Canal+ reports €6.4 billion in nine-month revenue

Canal+ has reported a 37.5% increase in revenue for the first nine months of 2026, reaching €6.41 billion. This significant rise is primarily attributed to the inclusion of results from MultiChoice, the South African pay-TV group acquired by Canal+ last year.

On a like-for-like basis, excluding currency and portfolio changes, revenue decreased by 0.3%. Third-quarter revenue reached €2.13 billion, representing a 1.9% increase on a comparable reported basis but a 1% decline like-for-like.

The company maintained its full-year guidance, projecting flat revenue, an adjusted operating profit of €735 million, and free cash flow exceeding €250 million before restructuring costs and a VAT settlement. Chief Executive Maxime Saada stated that the company is making progress with the MultiChoice turnaround plan and remains on track to meet 2026 synergy targets.

The results highlight Canal+’s strategic shift toward international markets, with Africa and Asia now accounting for approximately 41% of group revenue. However, MultiChoice remains a challenge, as its nine-month revenue fell 3% like-for-like, driven largely by lower subscription revenue in South Africa.