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Canal Plus to redress drop in profit with cost cutting plan

Friday 26 August 2016 | 10:55 CET | News
Update: 26 August 2016 | 12:30 CET
Vivendi disclosed that its Canal Plus French business unit is to implement a EUR 300 million cost reduction plan to improve profitability. Financial performance in the second quarter was below analysts' expectations, as Canal Plus Group posted a year-on-year drop in EBITA of 46.8 percent to EUR 119 million. This negative performance was mainly driven by increased losses in France, only partly offset by the positive trend in international operations. The EBITA loss in mainland France relating to Pay-TV channels worsened to EUR 106 million in the six months to June, compared to a EUR 47 million

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[26/08/2016 12:30 - Update: Clarification of EBITA loss in mainland France]


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Categories: Broadcast & Satellite
Companies: Canal Plus / Vivendi
Countries: France
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