August 31, 2013

 

 

 

SECP - 1st half 2013

Consolidated net income: ?20 million

 

This press release concerns the half-year income of SECP, a 48.48%-owned subsidiary of CANAL+ FRANCE, itself 80% owned by CANAL+ Group.

 

At its meeting on August 30, 2013, the Board of Directors of SECP approved the Company's financial statements for the period ended June 30, 2013, as follows:

 

Consolidated data (? millions) H1 2013 H1 2012 Change
Revenues Subscriptions 845 843 0.2%
Revenues Advertising and Other 104 106 -2.3%
Total Revenues 949 950 -0.1%
Operating expenses (811) (691) 17.3%
Distribution commission (106) (227) -53.4%
Guaranteed operating income 32 31 2.5%
Financial income 0 1 -77.4%
Income tax (12) (11) 10.6%
Consolidated net income 20 21 -7.0%
Net income attributable to the Group 20 21 -7.0%

The limited review of the financial statements was performed by the Statutory Auditors.

Highlights of the first half of 2013

The rights to the Premier League, the English football championship, were fully and exclusively acquired for three additional seasons, starting in August 2013. Subscribers to LES CHAINES CANAL+ will thus be able to follow the games of the biggest English teams as part of the most widely broadcast football championships in the world.

 

SECP also acquired full and exclusive rights to broadcast the Formule 1® World Championship. Since the start of the new 2013 season on Sunday, March 17 in Melbourne, subscribers to LES CHAINES CANAL+ can follow all the Formule1® Grands Prix as well as magazines and the exclusive rebroadcasting of free practice sessions and qualifications.

 

SECP and HBO have signed a five-year licensing agreement, covering linear second-window and catch-up television rights to all HBO's new series. Subscribers to the CANAL+ Group channels can thus follow the HBO series, a world standard in original production of very high quality shows.

 

Moreover, starting September 21, 2013, the CANAL+ offering will be enriched with a sixth channel, CANAL+ SERIES. Alongside CANAL+CINÉMA, CANAL+SPORT, CANAL+DÉCALÉ and CANAL+family, CANAL+SÉRIES will offer the best French and international series produced: first-run, exclusive broadcasting of event-creating series, new seasons of the greatest series, original-version, subtitled American series broadcast in the wake of their airing in the United States, marathons for (re)discovering entire seasons without interruption. and of course fiction works from CANAL+ ORIGINAL CREATION.
Key Indicators

At the end of June 2013, the total subscription portfolio which includes home and institutional subscribers to CANAL+ (in France, its overseas departments and territories and Africa) came to 5.5 million subscribers, a stable figure compared to one year ago.

The CANAL+ channels for the January-June 2013 period show an audience share of 4.2% among individuals four years of age and older in France overall. They posted an audience share of 14.1% in the first half of 2013, a historical high, amounting to +0.4% in one year, including 8.8% for CANAL+, by itself an increase of +0.3% in one year.

Revenues

The consolidated revenues of CANAL+ total ?949 million for the first half of 2013, a stable figure compared to the end of June 2012 despite a decline in the advertising market.

Earnings

Operating expenses, other than the distribution commission, increased by ?120 million over the previous year. This increase is mainly due to programming costs, in particular the impact at half year of the increased costs of broadcasting the LIGUE 1 starting from the 2012/2013 season.

In light of the guarantee mechanism contained in the distribution agreement with CANAL+DISTRIBUTION, income excluding financial income and taxes amounted to ?32 million, for growth of 2.5% over the first half of 2012.

The change in financial income is explained by changes in interest rates.

After financial income and tax expense, the consolidated net income amounted to ?20 million.  The Group's share of net income came to ?20 million.

The Company's cash position reached ?165 million at the end of the half year, meeting expectations.

 

SECP's half-year financial statements as of June 30, 2013, have been made available to the public and filed with the French Financial Markets Authority. The half-year financial report is available 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
Website: http://actionnaires.canalplus.fr/
Email: relations-actionnaires@canal-plus.com:
mailto:relations-actionnaires@canal-plus.com

 

SECP : consolidated net income H1 2013:
http://hugin.info/135428/R/1725421/575375.pdf


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Source: Canal + via Thomson Reuters ONE
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