Strong First Quarter Performance#
Canal+ SA, a French pay-TV company, saw its shares increase by 3.8% on Tuesday after releasing its trading update for the first quarter of 2026. The company reported a revenue of €2,169 million for the quarter, which is a significant increase of 41% when excluding its recent acquisition, MultiChoice Group. However, when including MultiChoice, the overall revenue saw a slight decline of 0.4% compared to the same period last year.
Integration of MultiChoice Group#
The integration process of MultiChoice Group is reportedly going well. Canal+ CEO Maxime Saada mentioned that initial steps have been taken to improve MultiChoice's operations, which include enhancing its commercial strategies and bringing in new sales teams. Notably, MultiChoice has also decided to stop its longstanding practice of annual price increases in South Africa, which could positively impact customer retention.
Guidance and Future Plans#
Canal+ reaffirmed its guidance for 2026, indicating a solid start to the year with generally stable revenue. This stability is crucial as the company navigates the challenges of integrating MultiChoice into its operations.
Upcoming South Africa Listing#
In a significant move, Canal+ announced it will be the first French company to list on the Johannesburg Stock Exchange, set for June 3, 2026. This secondary listing is part of the commitments made during the acquisition of MultiChoice Group, while Canal+ will continue to maintain its primary listing in London. Following the announcement, Canal+ shares initially surged by 7.5% in early trading before settling at a 3.8% increase by the end of the day.