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Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
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Canal+ Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 TU earnings summary28 Apr, 2026
Executive summary
Group revenue for Q1 2026 was broadly flat year-over-year, with slight growth on a historical basis excluding MultiChoice.
MultiChoice revenue continued to decline as expected, while operational execution of the synergy and turnaround plans is underway.
Cost discipline in France and Poland is starting to yield profitability improvements in Europe.
STUDIOCANAL delivered strong box office results in France, Germany, Australia, and New Zealand.
Secondary listing on the Johannesburg Stock Exchange is scheduled for 3 June 2026.
Financial highlights
Total Group revenue increased by 41% to €2,169 million compared to Q1 2025 restated (excluding MultiChoice), reflecting the MultiChoice acquisition.
Group revenue excluding MultiChoice rose 1.8% to €1,567 million, driven by Pay-TV in French-speaking Africa and content production.
Europe revenue decreased by 1.6% to €1,127 million, impacted by channel terminations and divestments.
Africa & Asia revenue surged 242.6% to €889 million due to MultiChoice inclusion; on a like-for-like basis, revenue declined 1.2%.
Content Production, Distribution and Other revenue grew 9.0%, led by STUDIOCANAL's box office and library sales.
Outlook and guidance
Full-year 2026 guidance reiterated: revenue expected to be flat, Adjusted EBIT €735m, CFFO before VAT and restructuring above €600m, FCF before VAT and restructuring above €250m.
Macroeconomic and geopolitical risks acknowledged, but no change to outlook.
Explain MultiChoice price freeze impact on ARPU
Detail Showmax retirement and migration plan
Update on €250m Adjusted EBIT savings target
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Latest events from Canal+
- 2025 targets exceeded, synergy acceleration underway, and medium-term profitability outlook raised.CAN
H2 202511 Mar 2026 - Acquisition targets €400m+ annual cost synergies and €300m FCF by 2030, driving global scale.CANM&A announcement3 Feb 2026
- Solid 2024 growth, margin gains, and MultiChoice progress drive global expansion ambition.CANH2 20249 Dec 2025
- Strong cash flow, cost cuts, and MultiChoice deal drive upgraded FY25 outlook.CANH1 202529 Oct 2025
- Revenue up 1.2% organically, MultiChoice acquired, and full-year guidance confirmed.CANQ3 202516 Oct 2025
- Organic growth and strategic deals position CANAL+ for global expansion and profitability.CANQ1 20256 Jun 2025
Next Canal+ earnings date
H1 202628 Jul, 2026
Canal+
Next Canal+ earnings date
H1 202628 Jul, 2026
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