ProSiebenSat.1 raises first-quarter EBITDA despite weaker revenues
May 13, 2026 07.40 Europe/London By Jörn Krieger

ProSiebenSat.1 Media increased earnings in the first quarter of 2026 despite lower revenues, as cost cuts and portfolio restructuring offset continued weakness in the advertising market.

The German broadcaster reported revenues of €775 million for the first three months of the year, down 9% from €855 million a year earlier. On an organic basis, adjusted for currency effects and portfolio changes, revenues fell 3%. EBITDA rose by €50 million to €44 million, while EBIT improved by €59 million to €3 million.

“We are satisfied with our performance in the first quarter, as our strategy is delivering results in a challenging market and economic environment,” said Marco Giordani, Group CEO of ProSiebenSat.1. “We are driving the shift toward more agile structures and further cost efficiency, and we are consistently pursuing our portfolio strategy with a clear focus on value creation. Since the beginning of the year, we have divested companies that are not part of our strategic focus.”

According to the company, the result was supported by disciplined cost management and by the absence of one-off charges linked to the 2025 disposal of Verivox, which had weighed on the prior-year quarter.

In the core entertainment division, revenues fell 8% to €453 million as the weak German TV advertising market continued to affect linear television. The decline in traditional TV advertising reflected both cyclical macroeconomic factors and the ongoing shift of ad budgets towards digital platforms, according to the broadcaster.

At the same time, digital advertising revenues in the entertainment segment rose 10%, supported by growth at streaming platform Joyn, content sales to third-party platforms and the audio business. Joyn increased AVOD revenues by 14% and SVOD revenues by 19%, while distribution revenues rose 4%.

ProSiebenSat.1 said its combined linear and digital video brands reached an average of around 61 million viewers per month in Germany during the quarter.

The commerce & dating segment posted revenues of €323 million, down 11%, mainly due to the sale of Verivox in March 2025. Excluding portfolio effects and currency changes, the segment grew 6%, driven by continued double-digit revenue growth at beauty retailer Flaconi.

The group confirmed its EBITDA guidance for 2026, expecting a significant year-on-year increase from €241 million in 2025. However, following the April sale of its North American creator business under the Studio71 brand, it revised its revenue outlook and now expects a moderate decline in reported revenues for the full year. On an organic basis, it continues to forecast slight growth.

Bob Rajan, Group CFO of ProSiebenSat.1, said: “We are currently seeing a positive trend in the advertising business with April performing better than the first quarter, even though the market environment remains challenging.” He added: “This supports our view that Entertainment revenues should improve again in the second half of the year.”

Net financial debt increased to €1.46 billion at the end of March from €1.34 billion at the end of 2025, mainly due to severance payments linked to the group’s reorganisation and seasonal cash flow effects.