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Investing.com -- Shares of Canal+ (LON:CAN) rose over 8% on Friday after the company said it had reached an agreement with the Centre national du Cinéma et de l’Image animée (CNC) over the calculation of the tax basis for the French Tax on Television Services.
The resolution ends a legal dispute over rules that applied to previous fiscal years and removes the risk of a material additional disbursement.
The French company said the agreement will not impact cash but will result in a one-off charge to its income statement in the first half of 2025.
The update came alongside confirmation of the company’s 2025 revenue and EBITA guidance, with full-year EBITA expected to reach around €515 million.
Canal+ said it continues to target organic growth next year, despite the end of the C8 channel and select contracts.
The group reported a higher-than-expected cash position, helped by a one-off working capital improvement from phasing changes to some payment terms.
As a result, Canal+ now expects 2025 cash flow from operations to exceed €500 million. The company also anticipates lower restructuring costs than previously planned, with most of those outflows now expected in 2026.