LONDON (Reuters) -Canal+, the French pay-TV broadcaster spun out of Vivendi in December, reported a 1.5% rise in organic group revenue in its first quarter on Tuesday, helped by a positive contribution from direct-to-consumer subscribers in Europe.
Organic revenue in Africa and Europe fell 2.3%, which it attributed to the exceptional popularity of the biennial African Cup of Nations a year earlier.
The group, whose movie production arm released the “Bridget Jones: Mad about the Boy” movie in the quarter, confirmed its 2025 outlook.
It said in March it expected to record organic growth this year, but it would be outweighed by the loss of free-to-air channel C8 in France and the termination of third-party contracts, including one with Disney.
Of the companies spun out of Vivendi – Canal+, Havas and Louis Hachette – the pay-TV group has performed the worst, with its shares down 40% since it debuted on the London exchange.
Last Tuesday a French court ordered the French stock exchange regulator to review the whole split project.
(Reporting by Paul Sandle; editing by Sarah Young)
