Canal+ SA (LSE:CAN) shares gained 3.8% on Tuesday after the group released its first-quarter 2026 trading update and reaffirmed its full-year outlook.
The French pay-TV operator reported revenue of €2,169 million for the quarter, representing a 41% increase when excluding MultiChoice. Including the South African broadcaster, acquired last year, total group revenue edged down 0.4% compared with the same period in 2025.
Canal+ said integration of MultiChoice is progressing as planned. Chief executive Maxime Saada noted that initial steps in the turnaround are underway, including enhancements to commercial operations and the hiring of additional sales teams. In South Africa, MultiChoice (PTY) Ltd has also halted its longstanding policy of annual price increases.
The company maintained its guidance for 2026, describing the start to the year as solid, with revenue broadly stable.
Canal+ also confirmed it will become the first French company to list in South Africa, with shares set to begin trading on the Johannesburg Stock Exchange on June 3, 2026. The move fulfills a commitment made during last year’s acquisition of MultiChoice, while the company will retain its primary listing in London.
The stock initially surged as much as 7.5% in early trading before easing back to close 3.8% higher.
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