Canal + : SECP : 2012 annual consolidated net income
February 27, 2013
SECP - Year 2012
Consolidated net income: €42 million
This press release concerns the annual financial results of SECP^1, a
48.48%-owned subsidiary ofCANAL+ FRANCE, itself 80% owned byCANAL+ Group.
At its meeting on February 13, 2013, the Board of Directors of SECP approved
the company's accounts for the year ended December 31, 2012, as follows:
Consolidated data (M€) 2012 2011 Change
Subscriptions 1,680 1,653 1.6%
Advertising 161 159 1.7%
Other revenues (1) 37 34 9.8%
Total Revenues 1,878 1,846 1.7%
Operating expenses (1,540) (1,430) 7.7%
Distribution commission (276) (355) -22.3%
Guaranteed operating income 62 60 2.5%
Net interest income 1 6 -80.3%
Income tax (21) (7) 24.3%
Consolidated net income 42 49 -15.5%
Net income, Group share 42 49 -15.5%
(1) primarily fees paid to SPORT+
(2) proforma of reclassification of certain income by reducing operating costs
in accordance with accounting standards
The audits were performed by the Statutory Auditors. Their reports are
currently being issued.
Highlights of the fourth quarter of 2012
SECP signed an agreement with the Confederation of African Football on
exclusive* and full broadcasting rights for the official African senior men's
football competitions, in partnership with the channel FOOT+ published by
theCANAL+ Group. The games of the Orange Africa Cup of Nations 2013 and of
the Orange Africa Cup of Nations 2015 will thus be offered to subscribers, in
addition to: the international qualifying games of the African Cups of Nations
2013 and 2015, the Orange Champions League of the Confederation of African
Football (CAF) 2012/13 to 2015/16, the Orange CAF Confederation Cups 2012/13
to 2015/16, the Orange African Nations Championships 2014 and 2016 and the
Orange CAF Super Cups 2013/14 to 2015/16.
* except for the co-broadcasting on D8 of four games of each Africa Cup of
In December 2012, CANALPLUS.FR created MUSIC, a universally accessible website
devoted entirely to music and for this partners with SPOTIFY, the sharing and
The already available CANAL FOOTBALL App tablet application is now being
offered for smartphones, making the second screen experience accessible to a
growing number of subscribers.
Beyond screens, in 2012 CANAL+ launches into the unprecedented television
adventure entitled KINDIA 2015. Until 2015, in partnership with associations
and non governmental organizations, the Channel's teams will accompany
development projects involving France and the Kindia region in Guinea. The
report on their progress will be broadcast in an annual documentary.At the
same time, CANAL+ created the Kindia+ endowment fund to provide financial
support for the selected projects, with the help of individual contributors.
The total subscription portfolio, which includes home and institutional
subscribers toCANAL+ (in France and its overseas departments and territories)
came to 5.5 million subscriptions as of December 31, 2012, a stable figure
compared to a year ago.
LES CHAINES CANAL+posted a total audience share of 4.2% in 2012, following an
exceptional 2011 year at 4.6%.In spite of greater competition and an
unfavorable sports events calendar (Euro and Olympic Games), the CANAL+
channel maintained its average audience over the entire day and confirmed the
attractiveness of its offerings, by its ability to create popular major events
for its subscribers, with many historical records in 2012; for example the
record for an ORIGINAL CREATION series was taken by LES REVENANTS at 23.6%.
The solidity of the channel's three pillars (Series, Movies and Sports) was
validated early in the season (from September to December 2012) at the highest
level since 2008 among subscribers: a 9.4% audience share, representing an
increase of 0.3 points in one year.
In 2012, unique visits to the CANALPLUS.FR website were on average 3.9 million
per month, representing an increase of 25% over 2011.
Consolidated revenues forCANAL+ totaled €1,878million in 2012, compared to
€1,857million in 2011, reflecting the combined impact of the rise in revenues
from Subscriptions (€26 million), in spite of the higher VAT rate, and the
increased Advertising revenues (€3 million), up 2% on LES CHAINES CANAL+.
Operating expenses, other than the distribution commission, increased by €110
million over the previous year, mainly due to the increased cost of programs.
In light of the guarantee mechanism contained in the distribution agreement
with CANAL+DISTRIBUTION, income excluding net interest income and taxes
amounted to €61.7 million, up 2.5% compared to 2011.
After net interest income and income tax, consolidated net income amounted to
€42 million. Net income, group share, came to €42 million.
The company's cash position stood at €151 million at the end of the period,
impacted by a higher level of disbursement for program purchases and tax
An annual dividend distribution of €0.27€ per share will be proposed at the
April 19, 2013 General Meeting. Subject to approval by the General Meeting,
the ex-dividend date is set for May 13, 2012.
The notice of approval of the accounts will be published in the BALO (French
legal notices bulletin). The entire annual financial report will be available
on March 29, 2013 on the Company's website at the address indicated below.
Investor Relations Corporate Communication
Marine SCHENFELE Laurence GALLOT Antoine BANET-RIVET
+33 (0)1 71 35 35 36 +33 (0)1 71 35 02 22 +33 (0)1 71 35 00 26
SECP : 2012 annual consolidated net income
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information contained therein.
Source: Canal + via Thomson Reuters ONE
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