The company’s London-listed shares dropped about 17 percent in early trading, marking their steepest single-day fall since the group debuted on the exchange roughly 15 months ago.
Canal+, which completed its takeover of MultiChoice in 2025, is positioning itself as a global entertainment platform spanning Europe, Africa, and Asia. The acquisition was central to its strategy to strengthen its presence in English-speaking African markets.
AlphaValue analysts said the early phase of integration and the group’s African development strategy were “unlikely to excite investors.”
Canal+ launches $116 million turnaround plan to revive MultiChoice
Chief executive Maxime Saada said the restructuring would shift the company from what he described as a “central heavy organisation to boots-on-the-ground”, acknowledging that implementing the changes across multiple markets would be complex.
The group is also pursuing cost savings from the acquisition, raising its expected synergies by 2026 to €250 million (about $290 million), up from an earlier estimate of €150 million. Part of the strategy includes shutting down the loss-making streaming service Showmax after concluding that it had little chance of recovery, a decision made with the platform’s board and partners.
Despite the market reaction, Canal+ reported 2025 earnings before interest, tax, depreciation, and amortisation of €527 million, about $611 million, beating its guidance. The combined group generated €8.665 billion in revenue, roughly $10.05 billion.
Looking ahead, Canal+ expects moderate revenue growth in 2026, and forecasts adjusted operating profit to rise to about €565 million, or roughly $655 million. The company also plans a secondary listing to deepen its long-term commitment to African media markets.
