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Section 4 - Business segment performance analysis
Financial Report
| Statutory Auditors’ Report on the Consolidated Financial Statements | Consolidated
Financial Statements | Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
4.2. Comments on the operating performance of business segments
4.2.1.
Canal+ Group
(in millions of euros)
Year ended December 31,
2014
2013
% Change
% Change
at constant
rate
% Change
at constant
rate and
perimeter
(a)
Pay-TV in Mainland France
3,454
3,544
-2.6%
-2.6%
-2.6%
Free-to-air TV in Mainland France
196
172
+14.8%
+14.8%
+14.8%
International pay-TV
1,273
1,122
+13.5%
+13.4%
+6.6%
Studiocanal
533
473
+12.5%
+11.6%
+2.8%
Total Revenues
5,456
5,311
+2.7%
+2.6%
+0.4%
Income from operations
618
660
-6.4%
-6.6%
-8.6%
Income from operations’ margin
11.3%
12.4%
Charges related to equity-settled share-based
compensation plans
(3)
(12)
Other special items excluded from income from
operations (including transition and restructuring costs)
(32)
(37)
EBITA
583
611
-4.7%
-4.8%
-6.3%
EBITA margin
10.7%
11.5%
Cash flow from operations (CFFO)
531
478
+11.1%
+10.9%
Canal+ Group’s pay-TV
Individual subscribers
(in thousands)
Mainland France
6,062
6,091
-29
International
4,986
4,352
+634
Poland
2,146
2,197
-51
Overseas
494
485
+9
Africa
1,552
1,083
+469
Vietnam
794
587
+207
Total Canal+ Group
11,048
10,443
+605
Subscriptions
(in thousands)
Mainland France
(b)
9,463
9,534
-71
International
5,886
5,137
+749
Total Canal+ Group
15,349
14,671
+678
Mainland France pay-TV
Churn, per individual subscriber with commitment
14.5%
14.9%
-0.4 pt
Net ARPU, in euros per individual subscriber
with commitment
44.0
44.2
-0.5%
Mainland France free-to-air TV’s rating shares (c)
D8
3.3%
3.2%
+0.1 pt
D17
1.2%
1.3%
-0.1 pt
i>Télé
0.9%
0.8%
+0.1 pt
Total
5.4%
5.3%
+0.1 pt
(a)
Constant perimeter excludes the impacts in 2014 of the acquisitions of Red Production Company (on November 22, 2013), of Mediaserv (on
February 13, 2014) and of Thema (on October 28, 2014).
(b)
Includes individual and collective subscriptions with commitment and without commitment (Canal+, Canalsat and Canalplay).
(c)
Source: Médiamétrie. Population four years and older.
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