Vivendi: Canal+’s New Perimeter and Reporting Segments
Some
Canal+ will consolidate together with its current business GVA, which provides telecommunication services in
In this new configuration, Canal+ Group will represent a unique international media operation with exposure to both mature and high-growth markets. It would have recorded €6.2 billion in revenues,
€472 million in Adjusted Earnings Before Interest and Income Taxes (EBITA) and €315 million in Cash Flow From Operations (CFFO) for the year ended
Its total number of subscribers would amount to approximately 26.8 million at such date, of which
16.0 million outside of
In recent years, Canal+ Group has made significant expenditure and investments amounting to approximately €1 billion annually in technology (including its broadcasting and streaming infrastructure, software development, CRM, etc.)to provide a highly distinctive and industry-leading customer experience on the myCanal and
The attached appendix sets out key figures of the new consolidation perimeter of Canal+.
Canal+ Group will have three operating segments:
-
Canal+
Europe – encompassing the Group’s subscription-TV (including OTT) and advertising-supported free-to-air (FTA) TV businesses acrossFrance , the French Overseas and adjacent territories,Poland ,Central Europe and Benelux (through its wholly-owned subsidiary M7) as well as telecommunication services in the French Overseas territories;
-
Canal+
Africa &Asia – encompassing the Group’s subscription-TV and advertising-supported FTA TV businesses, GVA and CanalOlympia venues across French-speaking Sub-Saharan Africa as well as subscription-TV business inVietnam ,Myanmar and Pacific territories;
-
Content Production, Distribution and Other – encompassing
Studiocanal ,Dailymotion , Thema1 as well as L’Olympia and the L’Œuvre theater.
Canal+ Group also holds a non-controlling 45.2% stake in MultiChoice with an ongoing mandatory takeover offer, a 36.8% stake in the OTT platform Viu and a 29.33% stake in Viaplay.
About
Since 2014,
Important disclaimers
This press release contains forward -looking statements with respect to Vivendi’s financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions, as well as related operations. Although
The dissemination of this press release may be restricted, limited, or prohibited by law in certain states, and anyone wishing to distribute it must inform themselves about the existence of such restrictions, limitations, or prohibitions, and adhere to them. Any failure to do so may constitute a violation of the applicable securities regulations in those states.
Unsponsored ADRs.
This document has been certified by
Appendix: Key figures2 for the Canal+ Group
(new scope of consolidation)
(in millions of euros) |
2023 |
2022 |
2021 |
Revenues |
6,223 |
6,010 |
5,870 |
EBITA3 |
472 |
444 |
401 |
Cash Flow From Operations (CFFO)4 |
315 |
252 |
355 |
(in millions) |
2023 |
2022 |
2021 |
Subscribers |
26.8 |
25.8 |
23.8 |
Of which Self Distributed5 |
19.5 |
19.3 |
19.1 |
By operating segment
|
2023 |
2022 |
2021 |
Canal+ |
|||
Subscribers (m) |
17.4 |
16.8 |
15.6 |
Revenues (€m) |
4,640 |
4,507 |
4,420 |
EBITA (€m) |
201 |
204 |
218 |
|
|||
Canal+ |
|||
Subscribers (m) |
9.5 |
8.9 |
8.2 |
Revenues (€m) |
1,002 |
970 |
858 |
EBITA (€m) |
212 |
196 |
159 |
|
|||
Content production, distribution & others |
|||
Subscribers (m) |
- |
- |
- |
Revenues (€m) |
713 |
654 |
698 |
EBITA (€m) |
59 |
44 |
24 |
Canal+ Group revenues by geographic area 6
(in millions of euros) |
2023 |
2022 |
2021 |
|
3,747 |
3,643 |
3,586 |
International |
2,476 |
2,367 |
2,284 |
Canal+ Group revenues by activity 2021-2023
(in millions of euros) |
2023 |
2022 |
2021 |
Subscriptions |
5,048 |
4,842 |
4,670 |
Advertising, content sales and other |
1,176 |
1,168 |
1,200 |
1
Thema is a company specializing in creating and distributing diverse content and channels.
2
Extracted from the Combined Unaudited Financial Statement for the years ended
3
EBITA, a non-GAAP measure, exclude most non-operating and non-recurring items from the measurement of the business segments’ performances. The difference between EBITA and EBIT consists of the amortization of intangible assets acquired through business combinations and through other catalogs of rights acquired by Vivendi’s content production businesses, the impairment of goodwill and other intangibles acquired through business combinations and through the other catalogs of rights acquired by Vivendi’s content production businesses, other income and charges related to transactions with shareowners (except where such transactions are directly recognized in equity), as well as items related to concession agreements (IFRS 16).
4
Cash Flow From Operations (CFFO), a non GAAP measure, exclude most non-operating and non-recurring items from the measurement of the business segments’ performances. Cash flow from operations is calculated as the sum of net cash provided by operating activities before income tax paid, as presented in the combined statement of cash flows (published in annual report), dividends received from equity affiliates and unconsolidated companies, as well as cash payments for the principal of lease liabilities and related interest expenses, which are presented as financing activities in the combined statement of cash flows. It also includes cash used for capital expenditures, net of proceeds from sales of property and equipment, and intangible assets, which are presented as investing activities in the combined statement of cash flows.
5
i.e. Direct to consumers subscribers
6
Based on customer location
View source version on businesswire.com: https://www.businesswire.com/news/home/20240920510029/en/
Source: