Business
RESOLUTION OF FRENCH VAT DISPUTE
Canal+ S.A. has reached a settlement with French tax authorities regarding the VAT rate on television subscriptions, agreeing to a total commitment of €363 million, with the payment schedule to be determined later. The company believes future tax audits should not result in significant additional adjustments and has therefore decided not to make any further provisions in its accounts. This resolution follows clarifications from tax authorities in September 2025 concerning catch-up television services, confirming the application of a reduced VAT rate on these subscriptions. Disclaimer*
About this update from Canal+ Sa
Press release CANAL+ SA (LSE : CAN) Issy-les-Moulineaux, 19 December 2025 This announcement contains Inside Information CANAL+ announces resolution to its dispute with the French tax authorities regarding the VAT rate applicable to the Group's services CANAL+ (LSE: CAN, the "Company", the "Group") announced today that it has reached a settlement with the French tax authorities, resolving the dispute related to the VAT rate applicable to television subscriptions. This agreement follows the clarifications published by the tax authorities in September 2025, as well as the work jointly carried out on the definition and operational terms of catch-up television at Canal+. In this context, VAT applies at a reduced rate on television subscription services. The Company believes that future related tax audits for subsequent years should not result in any significant additional adjustments. The Company has therefore decided not to make any additional provision in its accounts in this respect. The total amount to which the Group has committed amounts to €363 million. The payment schedule for this sum will be defined at a later date. For further enquiries please contact: Andrew Swailes [email protected] Olivia Abehassera H2Radnor [email protected] [email protected] Market Abuse Regulation Statement This Announcement contains inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this Announcement via a Regulatory Information Service, this inside information is considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of Canal+ S.A is Laëtitia Ménasé, Company Secretary. ABOUT CANAL+ Founded as a French subscription-TV channel 40 years ago, CANAL+ is now a global media and entertainment company. On 22 September 2025, CANAL+ confirmed it is in effective control of MultiChoice Group and beginning the integration process. MultiChoice is Africa's leading entertainment platform, offering a wide range of products and services, including DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers. Together, the new combined group has 40 million subscribers worldwide, operates in over 70 countries and has approximately 17,000 employees. CANAL+ operates across the entire audio-visual value chain, including production, broadcast, distribution and aggregation. It is home to STUDIOCANAL , a leading film and television studio with worldwide production and distribution capabilities; Dailymotion , major international video platform powered by cutting-edge proprietary technology for video delivery, advertising, and monetization; CANAL+ Distribution , a production and distribution company specialising in creating and distributing diverse content and channels; and telecommunication services, through GVA in Africa and CANAL+ Telecom in the French overseas jurisdictions and territories. CANAL+ also has significant equity stakes in Viaplay (the Pay-TV leader in Scandinavia) and Viu (a leading OTT platform in Southern Asia) and UGC , a leading French cinema group. canalplusgroup.com/en