Canaan Reports Strong H1 Financials Amid Integration of MultiChoice
Canal+ reported a significant increase in first-half revenue and profit for 2026 as the integration of MultiChoice contributed to growth. Revenue rose by 40% year-over-year, reaching €4.3 billion, with adjusted EBIT before exceptional items climbing 68% to €433 million. Free cash flow also improved substantially. The company remains on track for its full-year financial targets but noted that the FIFA World Cup and favorable cost timing provided one-time benefits unlikely to repeat in H2. The subscriber base grew by over 1 million, reaching more than 41 million globally, with MultiChoice showing early signs of recovery despite a flat subscriber count compared to last year. Canal+ has focused on content investment, pricing strategies, and distribution improvements as part of its turnaround plan for MultiChoice. The company also achieved €120 million in cost synergies during the first half, contributing largely from the discontinuation of Showmax and other efficiency measures. Management highlighted long-term sports rights acquisitions and increased African production investments to support growth. However, MultiChoice revenue still declined on a like-for-like basis due primarily to lower equipment sales.
Tickers: $CAN
Topics: EBIT increase free cash flow MultiChoice integration revenue growth subscriber base expansion