Prosiebensat.1 Media Se · XETR:PSM

Prosiebensat.1 Media — Investor Presentation (May 2026)

54 slides from Prosiebensat.1 Media's investor presentation, May 2026

  1. Slide 1: Company presentation

    Company presentation © ProSieben / Daniel Graf

  2. Slide 2: Agenda

    AGENDA 01 WHO WE ARE O5 ESG 02 STRATEGY O06 SHARE 03. FINANCIALS / OUTLOOK O7 APPENDIX 04 SEGMENT DEEP DIVES ProSiebenSat1 ‘el MediaSE

  3. Slide 3: ProSiebenSat.1 at a glance

    PROSIEBENSAT.1 AT A GLANCE Prosiebensat.1 group revenues: 3,595m -8% Revenues reported; LTM Q1 2026; in EUR; growth in % ENTERTAINMENT | 2,129m -7% COMMERCE & DATING | 1,466m -10% CONSUMER ADVICE 114M -61% TV CORE * ADVERTISING 1,348M -11% BEAUTY & LIFESTYLE 682M +27% DIGITAL & SMART ADVERTISING EXP

  4. Slide 4: Our management

    OUR MANAGEMENT Career Background Previous Experience Marco • 30+ years of senior leadership experience at European listed companies, with deep • Since Oct 2025: Group CEO, P7S1 • 2000 – Oct 2025: CFO, MFE Giordani expertise in finance, strategy, corporate management, and digital transformation. • 19

  5. Slide 5: Agenda: Strategy

    AGENDA 01 WHO WE ARE O5 ESG ( 02 STRATEGY ) O06 SHARE 03. FINANCIALS / OUTLOOK O7 APPENDIX 04 SEGMENT DEEP DIVES ProSiebenSat1 ‘el MediaSE

  6. Slide 6: Strategic direction ProSiebenSat.1 Group

    Strategic direction prosiebensat.1 Group ProSiebenSat.1 to become the leading Entertainment From diversified Group to player in the DACH-region Empowering growth focused media powerhouse while leveraging MFE as through financial discipline multiplier on a pan- European basis Image sources: “Germany’

  7. Slide 7: Moving forward with five priorities

    MOVING FORWARD WITH FIVE PRIORITIES Content Multi-Platform Monetization Tech & AI Financials We invest We increase We expand We innovate We focus in distinctive local and total video reach monetization to leveraging cutting- on cost discipline and live content to deepen through a broadened multiple

  8. Slide 8: Content: strengthen attractive local genres

    CONTENT | WE STRENGTHEN ATTRACTIVE LOCAL GENRES THAT DIFFERENTIATE PROSIEBENSAT.1 FROM THE COMPETITION IN TV AND STREAMING NEWS / SHOW / COMEDY FICTION SPORTS Social / FACTUAL REALITY Creator Image sources: ":newstime“ © Seven.One / Nadine Rupp; "RONZHEIMER – Wie geht's, Deutschland?" © SAT.1 / Joyn

  9. Slide 9: Content: building on popular formats with mass reach

    CONTENT | OUR STRATEGY BUILDS ON EXISTING POPULAR FORMATS THAT OFFER MASS REACH ON TV AND DIGITAL PLATFORMS SELECTION OF FORMAT HIGHLIGHTS Cross platform reach of selected formats Germany‘s Next Wer stiehlt mir Joko & Klaas gegen The Voice of Germany Villa der Versuchung Promi Big Brother Morlock Mo

  10. Slide 10: Content: creative offering sharpened around local relevance

    CONTENT | CREATIVE CONTENT OFFERING TO BE SHARPENED AROUND LOCAL RELEVANCE, EMOTIONAL CONNECTION, AND DISTINCTIVE BRAND CHARACTER EXEMPLARY GALILEO REACH & MONETIZATION ECOSYSTEM Brand & Thematic Ecosystems: • Brand Worlds: We leverage our key local brands to create immersive content ecosystems that

  11. Slide 11: Multi-platform: strategy adapted to changing user behavior

    MULTI-PLATFORM | OUR STRATEGY IS BEING ADAPTED TO ACCOUNT FOR CHANGES IN USER BEHAVIOR IN THE GERMAN-SPEAKING ENTERTAINMENT MARKET CHANGING USER BEHAVIOR IN MARKET … … REQUIRES EVOLUTION OF OUR STRATEGY FRAGMENTATION LEARNED PLATFORM FROM PURE JOYN-CENTRIC TO EXPANDED AND BUNDLING PREFERENCES MULTI-

  12. Slide 12: Multi-platform: maximizing total video reach

    MULTI-PLATFORM | WITH OUR MULTI-PLATFORM APPROACH, WE ARE FIRST AND FOREMOST MAXIMIZING THE TOTAL VIDEO REACH OF OUR CONTENT… MULTI-PLATFORM APPROACH BENEFITS OF STRATEGY TOTAL VIDEO REACH (GERMANY) +• Incremental reach growth user and INTERNATIONAL STREAMING PLAYERS AND MORE SOCIAL NETWORKS e.g. ∅~

  13. Slide 13: Multi-platform: broadening revenue streams

    MULTI-PLATFORM | …WHICH LAYS THE FOUNDATION FOR BROADENING REVENUE STREAMS AND INCREASING RELEVANCE IN THE ADVERTISING MARKET MULTI-PLATFORM GROWTH STRATEGY COMMERCIAL ADVANTAGES OF AD MONETIZATION DIVERSIFICATION Own Linear • Deliver large-scale mass reach and strong brand-building impact • Ensure

  14. Slide 14: Multi-platform: growing bookings of various media

    MULTI-PLATFORM | MULTI-PLATFORM APPROACH TO ENABLE FURTHER GROWING BOOKINGS OF VARIOUS MEDIA BY PROSIEBENSAT.1’S ADVERTISING CUSTOMERS TV – INSTREAM – ATV – DIGITAL – AUDIO ADVERTISING REVENUE SHARE BASED ON NUMBER OF BOOKED MEDIA 2023 2024 2025 AMBITION 5 Media 16% 24% 24% 4 Media 24% 13% 18% 3 Med

  15. Slide 15: Monetization: digital transformation increases advertising effectiveness

    MONETIZATION | OUR DIGITAL TRANSFORMATION INCREASES ADVERTISING EFFECTIVENESS AND POSITIONS US AS INNOVATION LEADER AD PRODUCTS TECH FOUNDATION DATA & IDENTITY AI ENABLER Expanding monetization through Enabling unified monetization and Transitioning data silos to integrated, Moving static campaign e

  16. Slide 16: Monetization: Seven.One Media with MFE Advertising as multiplier

    MONETIZATION | COMBINING LOCAL MARKET LEADERSHIP OF SEVEN.ONE MEDIA WITH MFE ADVERTISING AS MULTIPLIER FOR INTERNATIONAL SCALE & TECHNOLOGY A European Entertainment & Advertising powerhouse Unrivaled local market execution combined with pan-European reach, advanced AdTech, and streamlined access for

  17. Slide 17: Tech & AI: share technology, localize intelligence

    TECH & AI | WE SHARE TECHNOLOGY, LOCALIZE INTELLIGENCE, AND EXECUTE WITH AI TO DRIVE MARGIN EXPANSION SHARED LOCALIZED AdTech Infrastructure Programming & Content Expand unified advertising technology components across Local TV and streaming formats with cultural nuances optimized Europe for maximum

  18. Slide 18: Financials: retaining Flaconi as value-accretive asset

    FINANCIALS | WE CONTINUOUSLY EVALUATE OUR PORTFOLIO AND RETAIN FLACONI AS LONG AS IT REMAINS A VALUE-ACCRETIVE ASSET EXTERNAL REVENUES [IN EUR M] • Flaconi closes a strong year with growth of +27% and reaches topline of EUR 651m, driven by an outstanding performance both 651 in e-commerce sales as w

  19. Slide 19: Financials: foundation for deleveraging and shareholder returns

    FINANCIALS | STRONG TOTAL VIDEO REACH AND MONETIZATION FORM THE FOUNDATION FOR CONTINUED DELEVERAGING AND SHAREHOLDER RETURNS Investm investment ntent en in local and live content to deepen emotional viewer Co t connection and drive content consumption Operating cash flow managed with strict financi

  20. Slide 20: Transforming ProSiebenSat.1 into a focused entertainment company

    Summary TRANSFORMING PROSIEBENSAT.1 INTO A FOCUSED ENTERTAINMENT COMPANY 1 Focus on Entertainment in the German-speaking region, driven by strong local content, broad reach, and multi-platform distribution 2 Maximizing Total Video Reach and monetizing content across all relevant platforms 3 Technolo

  21. Slide 21: Agenda: Financials / Outlook

    AGENDA 03 FINANCIALS / OUTLOOK 21

  22. Slide 22: EBITDA increased significantly while group revenues declined in Q1 2026

    EBITDA INCREASED SIGNIFICANTLY WHILE GROUP REVENUES DECLINED IN Q1 2026 • Reported Group revenues decreased by 9% to EUR 775m in Q1 2026, reflecting ongoing REVENUES, EARNINGS AND CASH FLOW KPIS [IN EUR M] macroeconomic uncertainty and continued cautious advertising spending. In addition, Absolute C

  23. Slide 23: Entertainment EBITDA up 62% in Q1 2026

    EBITDA OF ENTERTAINMENT SEGMENT INCREASED BY 62% IN Q1 2026 DESPITE REVENUE DECLINE • Entertainment segment revenues declined by 8% in Q1 2026, both on reported and on ENTERTAINMENT EXTERNAL REVENUES AND EBITDA [IN EUR M] currency- and portfolio-adjusted basis • TV advertising revenues decreased by

  24. Slide 24: Commerce & Dating organic revenue growth of 6%

    COMMERCE & DATING SEGMENT WITH ORGANIC REVENUE GROWTH OF 6% IN Q1 2026 • Commerce & Dating revenues declined by 11% in Q1 2026. On a currency- and portfolio- COMMERCE & DATING EXTERNAL REVENUES AND EBITDA [IN EUR M] adjusted basis, however, revenues increased by 6% Absolute Change • Digital Platform

  25. Slide 25: Change in net debt and debt maturity profile

    CHANGE IN NET DEBT REFLECTS EXCEPTIONAL CASH EXPENSES AS WELL AS M&A ACTIVITIES NET FINANCIAL DEBT [IN EUR M] DEBT MATURITY PROFILE [IN EUR M, AS OF MARCH 31, 2026] Promissory Loans RCF (undrawn) Amortization/Repayment of Term Loan Bridge Facility Term Loan 400 +34 1,429 1,463 1,343 2.7x1) 3.3x1) 3.

  26. Slide 26: Confirming FY 2026 outlook

    WE ARE CONFIRMING OUR FY 2026 OUTLOOK UPDATED ON APRIL 21, 2026, AS A CONSEQUENCE OF SALE OF STUDIO71 US FY 2025 FY 2026 (REPORTED) TARGET GROUP REVENUES EUR 3,675m Moderate • Economic conditions in DACH-region are volatile, in Germany the decline economy is expected to gain momentum only as the yea

  27. Slide 27: Agenda: Segment deep dives

    AGENDA 04 SEGMENT DEEP DIVES 27

  28. Slide 28: Entertainment

    Entertainment 28

  29. Slide 29: Macro weakness burdening German TV advertising market

    MACRO WEAKNESS AND POLITICAL UNCERTAINTY BURDENING GERMAN TV ADVERTISING MARKET DEVELOPMENT CUMULATIVE REAL GDP GROWTH [2019-2025 IN %] TV NET ADVERTISING MARKET [INDEXED TO 2019] 10.1 105 100 95 6.6 6.4 90 5.4 5.2 85 80 15%pts 75 0.3 70 2019 2020 2021 2022 2023 2024 2025E Spain Euro area Italy UK F

  30. Slide 30: Audience share almost stable in Q1 2026

    PROSIEBENSAT.1 KEEPS AUDIENCE SHARE ALMOST STABLE IN Q1 2026 – STRONG TENTPOLES AND TARGET GROUP CHANNELS DRIVE PERFORMANCE LINEAR AUDIENCE SHARE DEVELOPMENT Performance Highlights [FULL DAY, A 20-59, IN %] • P7S1 managed to keep Full Day share almost stable (-0.2%pts) despite strong competition by,

  31. Slide 31: Multi-platform approach maximizes total video reach

    OUR MULTI-PLATFORM APPROACH MAXIMIZES THE TOTAL VIDEO REACH OF OUR CONTENT Ø~61m Monthly Total Video Reach of P7S1’s linear TV channels and Joyn (status quo)1) ~77% of total population1) SELECTION OF FORMAT HIGHLIGHTS Total Video Reach2) 29.4m 20.1m 23.4m 19.4m 17.5m 591m views 999m views Cross plat

  32. Slide 32: Joyn continues to deliver strong growth across all KPIs

    JOYN CONTINUES TO DELIVER STRONG GROWTH ACROSS ALL KPIS Another highly successful quarter especially for our users’ engagement on the platform Monthly Video Users Q1 20261) 9.5m +15% vs. PY Minutes Video Viewtime Q1 20261) NEW 16.2bn +20% vs. PY Creator Reality LOVE HUNTER, with 0.7m MVUs and 121m m

  33. Slide 33: Release pipeline of hybrid content for Q2 2026

    A STRONG RELEASE PIPELINE OF HYBRID CONTENT IS PLANNED FOR THE SECOND QUARTER OF 2026 CONTENT PRIORITIES 2026 UPCOMING CONTENT HIGHLIGHTS Q2 2026 Build upon value drivers for both linear and digital Increase incremental user and reach growth for Joyn Continue local content strategy with strong estab

  34. Slide 34: Audio business becoming another growth driver

    AUDIO BUSINESS BECOMING ANOTHER GROWTH DRIVER FOR DIGITAL & SMART ADVERTISING REVENUES 691m Ad impressions in Q1 20261) +13% vs. Q1 2025 Business & Entertainment & Familie & 340 Entrepreneurship Personality Podcasts Beziehung exclusive marketable For the first time, podcast & inhouse podcasts are re

  35. Slide 35: HD penetration and new distribution deal with Magenta TV

    INCREASING HD PENETRATION AND NEW COMPREHENSIVE LONG-TERM DISTRIBUTION DEAL WITH MAGENTA TV SECURING REACH & REVENUE GROWTH EUR 55m I +4% yoy HD FREE-TO-AIR SUBSCRIBERS DISTRIBUTION [IN M]1) DISTRIBUTION REVENUES in Q1 2026 LONG-TERM DEAL 40% 14,4 HD penetration 13,1 Complete renewal of long-term Di

  36. Slide 36: Complementary advanced TV product portfolio

    OUR COMPLEMENTARY ADVANCED TV PRODUCT PORTFOLIO ENABLES A WIDE RANGE OF USE CASES – ALWAYS WITH PREMIUM TV QUALITY ADDRESSABLE TV TOTAL VIDEO AUDiENCE TV PROGRAMMATIC TV based on CFlight The power hybrid of TV impact Germany's first fully integrated The new, efficient way to book Easiest linear TV a

  37. Slide 37: Commerce & Dating

    Commerce & DATING 37

  38. Slide 38: Commerce & Dating

    COMMERCE & DATING Note: esome , Kairion , billigermietwagen.de, Camperdays and Studio71 US were sold in 2026 38

  39. Slide 39: Agenda: ESG

    AGENDA 01 WHO WE ARE < OS ESG 02 STRATEGY O06 SHARE 03. FINANCIALS / OUTLOOK O7 APPENDIX 04 SEGMENT DEEP DIVES ProSiebenSat1 ‘el MediaSE

  40. Slide 40: Our approach to sustainability/ESG

    OUR APPROACH TO SUSTAINABILITY/ESG P7S1 has expanded the sustainability organization 3 in the last years by installing a Sustainability Committee and a P7S1 defines sustainable 1 Sustainability & DEI team; Executive entrepreneurial activity Board-level responsibility for non- as an integrated approa

  41. Slide 41: Sustainability strategy: mission and vision

    SUSTAINABILITY STRATEGY OUR GOAL Our goal is to implement sustainability, diversity and inclusion as an integral management concept in all areas of the P7S1 Group. Sustainable management as the basis for all our business decisions is to become a matter of course. We take our corporate and social res

  42. Slide 42: Selected non-financial key figures

    SELECTED NON-FINANCIAL KEY FIGURES ENVIRONMENTAL SOCIAL 2025 2024 ∆ 2025 2024 ∆ Total energy consumption in GWh 30.13 32.48 -7% Ratio of women (employees) 50.5% 49.8% +0.7 pp share of renewable energy in GWh 22.57 22.85 -1% Ratio of women (management) 38.2% 36.3% +1.9 pp share of non-renewable energ

  43. Slide 43: ESG ratings and rankings

    ESG RATINGS AND RANKINGS Climate Change Score: B Rating: AA In line with Europe regional Industry-adjusted score: 8.6 average and media & telco average Top 26.8% of Media & Entertainment Quality Score EcoVadis Environment: 2 Silver Status 2025 Social: 1 Top 15% Governance: 3 Overall score: 73/100 (a

  44. Slide 44: Strategic goals

    STRATEGIC GOALS PUBLIC VALUE & CORPORATE CITIZENSHIP • Focus increasingly on socio-politically relevant issues in terms of media and content (Public Value) and social engagement (Corporate Citizenship) and structural expansion of sustainable storytelling DIVERSITY & INCLUSION • Structural support an

  45. Slide 45: Agenda: Share

    AGENDA 01 WHO WE ARE 02 STRATEGY 03. FINANCIALS / OUTLOOK 04 SEGMENT DEEP DIVES ProSiebenSat1 ‘el MediaSE O5 ESG O06 SHARE O7 APPENDIX 45

  46. Slide 46: ProSiebenSat.1 share

    PROSIEBENSAT.1 SHARE SHAREHOLDER STRUCTURE IN % Free Float 24.31% MFE- MEDIAFOREUROPE N.V. 75.61% Treasury Shares 0.08% ProSiebenSat.1 Media SE BASIC DATA SHARE CAPITAL EUR 233,000,000 STOCK EXCHANGES Frankfurt / Luxembourg ISIN DE000PSM7770 WKN PSM777 COMMON CODE 095725104 SEDOL BCZM1B2 Note: Treas

  47. Slide 47: Covered by financial analysts

    PROSIEBENSAT.1 IS CURRENTLY ACTIVELY COVERED BY 10 FINANCIAL ANALYSTS ANALYST COVERAGE BANK ANALYST LATEST RECOMMENDATION DZ Bank Armin Kremser Hold J.P. Morgan Daniel Kerven Buy Oddo-BHF Securities Jérôme Bodin Neutral Barclays Julien Roch Equal weight Bernstein Societe Generale Annick Maas Neutral

  48. Slide 48: Agenda: Appendix

    AGENDA 01 WHO WE ARE O5 ESG 02 STRATEGY O06 SHARE 03. FINANCIALS / OUTLOOK O7 APPENDIX 04 SEGMENT DEEP DIVES ProSiebenSat1 ‘el MediaSE

  49. Slide 49: Appendix

    Appendix © ProSieben / Daniel Graf

  50. Slide 50: Group P&L

    GROUP P&L Absolute Change [in EUR m] Q1 2026 Q1 2025 change in % Revenues 775 855 -80 -9% EBITDA 44 -6 +50 n/a Other depreciation, amortisation -41 -51 +9 +19% and impairments Thereof PPA + Goodwill -4 -4 +1 +17% Operating result (EBIT) 3 -56 +59 n/a Financial result -20 -23 +3 +11% Thereof interest

  51. Slide 51: Group and segment revenue breakdown Q1 2026

    GROUP AND SEGMENT REVENUE BREAKDOWN Q1 2026 Entertainment Commerce & Dating Total Group External revenues [in EUR m] Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Advertising revenues 344 381 64 72 407 453 DACH 344 381 11 11 355 392 Thereof TV 274 318 274 318 Thereof Digital & Smart 70 63 70 63 Re

  52. Slide 52: Operational KPIs

    OPERATIONAL KPIS Q1 Q2 Q3 Q4 FY Q1 2025 2025 2025 2025 2025 2026 Linear TV Audience Share A 20-591) 18.9% 21.0% 19.9% 20.7% 20.1% 18.9% Joyn (DE+AT+CH) Monthly Video Users2) 8.27m 9.21m 7.67m 9.60m 8.69m 9.53m Video Viewtime in minutes2) 13.5bn 12.6bn 12.7bn 16.3bn 55.2bn 16.2bn AVoD Revenues (YoY)

  53. Slide 53: Disclaimer

    DISCLAIMER This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objecti

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