Canal+Sa (CNALF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.216 Good morning, everyone, and thank you for joining us today. 00:00:03.216 -- 00:00:07.762 This is Maxime Seyda, CEO of Canal+. 00:00:07.762 -- 00:00:11.007 And I'm Amandine Ferret, CFO of Canal+. 00:00:11.007 -- 00:00:15.193 We are delighted to be with you today. Together, we'll present the Canal+, results for 00:00:15.193 -- 00:00:17.874 the first half of 2025. 00:00:18.778 -- 00:00:20.841 Starting with our 00:00:20.841 -- 00:00:25.849 key strategic and financial priorities before I hand it over to Amandine 00:00:25.849 -- 00:00:29.630 Ferret, and she digs into our H1 financials and beyond. 00:00:29.630 -- 00:00:35.295 I would like to provide some detail on how we have made progress on each of our priorities 00:00:35.379 -- 00:00:40.146 with, of course, our key objective to generate profitable growth and cash on all activities 00:00:40.146 -- 00:00:45.033 by building the best global and local content value proposition, by extending our distribution 00:00:45.033 -- 00:00:50.221 through innovation and strategic partnerships, and by growing our scale. 00:00:50.221 -- 00:00:56.022 Let's start by focusing on how we are generating profitable growth and cash on all activities. 00:00:56.022 -- 00:01:00.547 As you will see, we are on track to deliver our upgraded guidance for the full year. 00:01:00.547 -- 00:01:02.890 In H1 2025, 00:01:02.890 -- 00:01:08.036 our organic revenue grew by 0.9%, reaching close to 3.1 billion euros, 00:01:08.036 -- 00:01:13.243 confirming our 2025 expectation to achieve organic growth. 00:01:13.243 -- 00:01:17.327 EBITDA is right where we expected it to be, 246 00:01:17.327 -- 00:01:19.931 million euros before exceptionals, 00:01:19.931 -- 00:01:24.156 and we anticipate a much stronger second half of the year. ...