Canal+ boss has no regrets over London listing

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The Boss of Canal+ says that the French Media Group has not regret picking London’s stock market despite its sharp decline in its market value since being listed in December.

Maxim White, CEO of Paris-based group, said that he was expected to sell the stalk because of the need to exit some French shareholders after he came out of Vivendi-but “this is no less”.

Group shares started trading at around 290p last year, which some analysts have come down to the expected level, and since then to 173P, it is a market price £ 1.7bn. It makes it smaller than the British broadcast ITV, which is worth about $ 2.7 billion despite having lower income than the French rivals.

White said that the company had no regrets about his decision, but added that the new UK and US investors were starting to attend the shareholder register. He told the Financial Times, “We don’t hurry.” “It’s a three -year story”.

He said that some investors were also waiting to end a “transformal” agreement to achieve the African Pay-TV company multichesion, which would enable the canal+ to the front. The transaction is expected to be final by the end of this year.

White said that this team was not looking for any larger size M&A when it was waiting for the multichys deal to end. He also added that he is not interested in buying ITV studios in British Broadcaster’s TV production, which has attracted interest from private equity groups and other rivals.

In his first result after the list in London, the canal+ its revenue stood at $ 1.6.5 billion in the fiscal year of Tuesday, encouraged by his film studio arm, as well as direct subscriptions. Prior to interest before exceptional items, earning 5.4 percent before the interest and tax increased to $ 503 million, it is 7.8 percent.

The team said on Monday that they signed an agreement with the French cinema industry that would enable them to be the only Pay-TV company in the film broadcast six months after their release of the drama minister in the country.

In comparison with € 220MN every year before Disney+, the canal will provide a minimum of € 480 million in the three-year period to support French films, after the Disney+ an agreement secured its films and other French produces, instead of nine months, instead of nine months, instead of nine months.

Other US streams have been stuck for more than a year before showing movies in the movie.

Group’s Studio Arm Studiyanal also released several successful films last year, including the biopic of Amy Winehouse Back to black, Wicked short letter And PaddingtonWhich has taken more than $ 160mN for the Global Box sales so far.

However, in addition to the decision to remove its channels from France’s Terrestrial TV, the group is expected to impress this year by the completion of several third -party content agreements in the country, including Disney.

White said that the company would focus on the cash generation in the future, with cash and income to have a more powerful link to manage the bonuses to re -sorting bonuses.