Canal+ Group saw its subscriber total increases by 558,000 to 15.8 million in the year to June 30 thanks to the strong performance of its international operations.
At the same time, the number of subscriptions in mainland France continued to fall, the 8.187 million total as of June 30 down 272,000 over the first half of 2016.
Canal+ Group’s revenues amounted to €2,639 million, down 3.5% compared to the first half of 2015 (-3.0% at constant currency and perimeter).
International pay-TV revenues increased thanks to growth in the individual subscriber base, notably in Africa where Canal+ Group had 2.2 million subscribers as of June 30, 2016, 615,000 more than at the end of June 2015, as well as in Vietnam, where the number of individual subscribers exceeded 900,000 at the end of June 2016 (+139,000 in one year).
The dynamic growth was driven by the enhancement of the offerings with the addition of the broadcasting of the UEFA Euro 2016 in Africa and Vietnam, and the broadcasting of the English Premier League in Vietnam for the next three seasons (2016/2017 to 2018/2019).
Canal+ Group’s income from operations amounted to €297 million, compared to €368 million in H1 2015, and EBITA amounted to €288 million (including re-organisation costs), compared to €388 million for the first half of 2015.
This decline was notably due to the difficulties faced by the pay-TV operations in mainland France and the lower profitability of Studiocanal and the FTA channels. EBITA from Canal+ channels in France amounted to a €106 million loss, compared to €47 million for the first half of 2015.
Meanwhile, Vivendi had revenues of €5,044 million in the first half of this year, 1% down on a year earlier and -0.9% at constant currency and perimeter.
In adjusted measures, EBITA was €387 million (-25%, -20.4%) and adjusted net income €286 million (-13.1%).
In its latest results, Vivendi notes that the full effects of the €300 million cost saving plan at Canal+ Group will be seen in 2018, with savings of around €60 million to €80 million expected ton be realised as soon as this year.
