)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
MultiChoice Group Limited (MCG) investor relations material
MultiChoice Group Limited H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary12 Jun, 2025
Executive summary
FY2025 was marked by significant macroeconomic headwinds, including currency devaluation and weak consumer spending, leading to an 8% year-on-year decline in the customer base to 14.5 million active subscribers.
New revenue lines such as DStv Internet, DStv Stream, KingMakers, and Showmax showed strong growth, with Showmax's paying base up 44% year-on-year.
The business delivered ZAR 3.7 billion in cost savings, well above the revised target, offsetting topline pressure.
The proposed acquisition by CANAL+ is progressing, with regulatory milestones achieved, a mandatory offer extended to October 2025, and Competition Commission approval recommended.
Financial highlights
Trading profit before investments and FX was up 20% year-on-year, but reported trading profit fell 49% to ZAR 4 billion due to ZAR 3 billion in FX pressure and increased Showmax investment.
Group revenue reached ZAR 50.8 billion, up 1% organically but down 9% on a reported basis due to currency weakness.
Adjusted core headline earnings decreased by ZAR 2.1 billion to a loss of ZAR 800 million, down 19% year-on-year.
Free cash flow swung to a ZAR 516 million outflow, with year-end cash at ZAR 5.1 billion and a leverage ratio of 2.26x.
Subscription income fell 8% year-on-year, with both South Africa and Rest of Africa experiencing subscriber losses.
Outlook and guidance
Strategic focus remains on profitability, cash flow, and cost savings, with a ZAR 2 billion cost-saving target for FY2026.
Priorities include maintaining South Africa trading margins in the mid-20s, returning rest-of-Africa to profitability, and reducing Showmax trading losses.
Focus on closing the Canal+ deal before the 8 Oct 2025 long-stop date and fulfilling regulatory conditions.
Expanding partnerships, executing product and pricing initiatives, and driving growth in ancillary businesses.
Showmax cost reduction plan and timeline
Decoder subsidy strategy impact on subscriber mix
SuperSport packaging strategy post-acquisition
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next MultiChoice Group Limited earnings date
H1 202610 Dec, 2025
Next MultiChoice Group Limited earnings date
H1 202610 Dec, 2025
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
MultiChoice Group Limited is one of Africa's leading entertainment companies. It specializes in delivering a wide array of video entertainment to its subscribers through satellite and online services. The company's portfolio includes DStv, GOtv, Showmax, M-Net, SuperSport, and Irdeto MultiChoice provides a mix of local and international content across multiple channels, with a significant emphasis on supporting the African film and TV industry. The company is headquartered in South Africa, and its shares are listed on the Johannesburg Stock Exchange .
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage