French media and entertainment company Canal+ S.A (CAN.L) reported wider loss in full year 2024, despite higher revenues. The company also announced a dividend for the year.
Looking ahead, in fiscal 2025, the company expects revenues to grow organically.
For the medium term, Canal+ expects adjusted EBIT margin at constant scope of consolidation to continue to improve on a moderate basis.
The company posted net loss of 147 million euros in fiscal 2024, wider than a loss of 61 million euros in the previous year. This was mainly due to the expenses related to exceptional items costs, losses from equity affiliates, and provision for income taxes determined in the absence of tax group consolidation in France.
On an adjusted basis, loss was 33 million euros in full-year 2024, compared to a profit of 177 million euros in the prior year.
The company's pre-tax earnings for the year declined 41 percent to 60 million euros from 102 million euros a year ago.
Adjusted EBIT climbed 5.4 percent to 503 million euros in 2024 from 477 million euros a year ago.
In fiscal 2024, the company's revenues rose 3.6 percent to 6.45 billion euros from 6.22 billion euros last year. This growth was mainly due to a focus on high-value D2C subscriber base, by showcasing exclusive content like partnerships with major US studios and live premium sports events.
Further, Canal+'s Management Board proposed an ordinary dividend in cash of 0.02 euro per share for full-year 2024. Subject to shareholder's approval, the dividend would be payable from June 27 with the record date of June 26.
On the LSE, the stock is trading at 175.80 pence, up 0.57 percent.
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