RESULTS

ProSiebenSat.1’s Group revenues for the first half of 2026 totaled EUR 1,544 million, compared with EUR 1,695 million in the previous year. In the second quarter of 2026, Group revenues amounted to EUR 768 million, compared with EUR 840 million in the second quarter of 2025. On an organic basis, revenues declined by 2% in both periods against the backdrop of a challenging economic and advertising market environment.

As expected, ProSiebenSat.1’s EBITDA increased significantly, improving by EUR 152 million in the first half of 2026. In the second quarter of 2026, the improvement compared with the previous year’s   quarter amounted to EUR 102 million. The significant decline in costs has once again led to a positive EBITDA, following a negative EBITDA in the previous year's period.

In the first half of 2026, ProSiebenSat.1 reached approximately 76% of people in Germany each month. This corresponds to a total reach (P7S1 total video reach) of an average of approximately 60 million people. In the previous year’s period, the figures were approximately 77% or 61 million people. The decline compared to the previous year is in line with expectations and reflects the reach of TV channels, which was impacted by the broadcast of the Winter Olympics and the FIFA World Cup. However, excluding the Olympic Games and World Cup time period, audience market share for the first half of the year remained at the previous year’s level.

For the financial year 2026, ProSiebenSat.1 continues to expect slight organic growth in Group revenues in a volatile economic environment. In addition, the Group expects a high increase in EBITDA. The target range for the leverage ratio at year-end remains unchanged at 3.0x to 3.5x. Net financial debt is expected to remain stable compared compared to the end of 2025.

Following an 8% decline in the first quarter of 2026, ProSiebenSat.1’s Entertainment segment’s external revenues for the first half of the year were 6% below the previous year’s figure, totaling EUR 952 million. Advertising revenues decreased by 9%, reflecting the industry-wide decline in investment in TV advertising in Germany. This decrease is attributable to both cyclical and structural factors. In addition, as expected, the broadcast of major sporting events by competing providers – and in particular, the FIFA World Cup – had an impact.