Canal Plus reveals pre IPO earnings
Canal Plus Group reported a 5.8 per cent rise in full-year EBITDA as it moves closer to the planned initial public offering of Lagardere’s 20 per cent stake in its French unit, Canal Plus France.
EBITDA for the full year rose to €690 million while revenue rose 3.5 per cent to €4.71 billion as more subscribers signed up for pay TV, Vivendi said.
Vivendi currently owns 100 per cent of Canal Plus Group, which in turn holds 80 per cent of Canal Plus France, with the remaining 20 per cent held by Lagardere. Lagardere has been aiming for the IPO of its stake to take place in the second quarter of 2011.
“We are very happy to begin this IPO process for Canal+ France, which will allow institutional and private investors to become shareholders in the leading pay-TV company in mainland France and to take advantage of its prospects for growth,” Canal Plus CEO Bertrand Meheut said.