Inside Information / Other news releases

 Paris, September 20, 2024  

Vivendi:  Canal+’s new perimeter and reporting segments 

Some Vivendi-owned assets, whose operations are closely aligned with those of Canal+, are currently in the process of being transferred to the latter for the sake of consistency.

Canal+ will consolidate together with its current business GVA, which provides telecommunication services in Africa, including high-speed Internet access marketed under the brand Canalbox; the video streaming platform Dailymotion; the performance venues L’Olympia and the L’Œuvre theater in France as well as the cinema theaters CanalOlympia in Africa. 

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 December 31, 2023. 

Its total number of subscribers would amount to approximately 26.8 million at such date, of which  16.0 million outside of France (c. 60%). Between Dailymotion and the OTT platform myCanal, Canal+ Group would record a global audience of over 400 million monthly active users. 

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 Dailymotion platforms. 

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 advertisingsupported free-to-air (FTA) TV businesses across France, 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 in Vietnam, Myanmar and Pacific territories;

•      Content Production, Distribution and Other – encompassing Studiocanal, Dailymotion, Thema^[1] 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 Vivendi

Since 2014, Vivendi has been building a world-class content, media and communications group. Canal+ Group is a major player in the creation and distribution of cinema and audiovisual content on all continents. With Lagardère, Vivendi is the world’s third-largest book publisher for the general public and educational markets, and a leading global player in travel retail. Havas is one of the largest global communications groups with a presence in more than 100 countries. Vivendi is also active in the magazine business (Prisma Media), and in video games (Gameloft). It also owns a global digital content distribution platform (Dailymotion) and a subsidiary dedicated to providing very high-speed Internet access in Africa (GVA). Vivendi’s various activities work closely together as an integrated group committed to transforming its businesses to meet the expectations of the public and anticipate constant changes. As a committed group, Vivendi contributes to building more open, inclusive, and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education, and its industries, and increasing awareness of 21st century challenges and opportunities. www.vivendi.com.

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 Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of completion of Vivendi’s future performance. Actual results may differ materially from the forwardlooking statements as a result of a number of risks and uncertainties, many of which are outside our control, including, but not limited to, the risks related to obtaining regulatory, administrative, third - party or any other approvals, and the risks described in the documents of the Group filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi’s website (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amffrance.org, or directly from Vivendi. Accordingly, we caution readers against relying on such forward-looking statements. These forward-looking statements are made as of the date of this press release. Vivendi disclaims any intention or obligation to provide, update or revise any forward- looking statements, whether as a result of new information, future events or otherwise. This press release does not contain or constitute an offer of securities or a solicitation of an offer to subscribe to or purchase, nor an invitation to sell, buy, or subscribe to securities in France or abroad. This press release must in no way be interpreted as a recommendation to readers.

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Appendix: Key figures² for the Canal+ Group

(new scope of consolidation)

²  Extracted from the Combined Unaudited Financial Statement for the years ended December 31, 2023, 2022 and 2021

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

By operating segment

Canal+ Group revenues by geographic area^[2]

Canal+ Group revenues by activity 2021-2023