Prosiebensat.1 Media Se · XETR:PSM
Prosiebensat.1 Media — Q1 2025 Earnings Presentation
28 slides from Prosiebensat.1 Media's earnings presentation, May 15, 2025
Slide 1: Q1 2025 Results Presentation
Q1 2025 Results Presentation May 15, 2025 © Joyn / Nadine Rupp
Slide 2: Summary, Financials, Operations, Outlook
© ProSieben / Richard Hübner © ProSieben / Richard © Seven.One Hübner / Nadine Rupp © Joyn / Julien Mathieu © Joyn / Claudius Pflug © ProSieben/Willi Weber 01 02 03 04 Summary Financials Operations Outlook
Slide 3: Summary
To be updated Picture to be updatedIR by by IR 01 Summary © ProSieben / Richard Hübner
Slide 4: Key Financial Highlights
Group revenues Entertainment 11% revenue Adjusted EBITDA FY 2025 outlook of EUR 855m in Q1 revenue decline growth of of EUR 44m confirmed 2025 almost at of -2% in Q1 2025 Commerce & reflecting prior years’ Ventures in Q1 anticipated level 2025 seasonality despite continued with Joyn, Distribution ma
Slide 5: Financials
To be updated Picture to be updatedIR by by IR 02 Financials © Joyn / Julien Mathieu © Seven.One / Florida TV / Julian Mathieu
Slide 6: Group revenues almost on previous year's level despite difficult ad market
GROUP REVENUES ALMOST ON PREVIOUS YEAR’S LEVEL DESPITE DIFFICULT AD MARKET ENVIRONMENT COMMENTS • Group revenues amounted to EUR 855m in REVENUES, EARNINGS AND CASH FLOW KPIS [IN EUR M] Q1 2025, almost at the same level as last year despite still demanding macroeconomic environment in our core Q1 20
Slide 7: TV advertising decline mitigated by increased content and distribution revenues
TV ADVERTISING DECLINE MITIGATED BY INCREASED CONTENT AND DISTRIBUTION REVENUES COMMENTS • Entertainment revenues decreased by 2% ENTERTAINMENT EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] in Q1 2025, both on reported basis and on portfolio and currency-adjusted basis Q1 2025 Q1 2024 YoY • Entertain
Slide 8: Commerce & Ventures continues to grow in Q1 2025 with flaconi
COMMERCE & VENTURES CONTINUES TO GROW IN Q1 2025 WITH STRONG CONTRIBUTION FROM FLACONI COMMENTS • Revenues of Commerce & Ventures COMMERCE & VENTURES EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] segment improved by 11% in Q1 2025, both on reported and portfolio and currency- adjusted basis Q1 2025 Q
Slide 9: Dating & Video segment decline driven by weaker performance in the U.S.
DATING & VIDEO SEGMENT DECLINE DRIVEN BY WEAKER PERFORMANCE IN THE U.S. COMMENTS • Dating & Video revenues declined by 22% DATING & VIDEO EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] to EUR 84m in Q1 2025. Both the Dating and Video businesses contributed to the decline Q1 2025 Q1 2024 YoY • On curre
Slide 10: Significant net debt reduction and stable financial leverage
SIGNIFICANT NET DEBT REDUCTION AND STABLE FINANCIAL LEVERAGE COMPARED TO END OF FIRST QUARTER 2024 NET FINANCIAL DEBT IN EUR M DEBT MATURITY PROFILE IN EUR M -124 SSD2) 2016 SSD2) 2021 Term Loan RCF3) 1,153 2.6x1) 2.7x1) 2.7x1) 1,553 1,512 1,429 500 (undrawn) 346 226 225 80 48 47 03/31/2024 12/31/20
Slide 11: Operations
To be updated Picture to be updatedIR by by IR 03 Operations © Joyn / Claudius Pflug
Slide 12: Entertainment advertising DACH revenues expected to grow in H2 2025
ENT ENTERTAINMENT | ENTERTAINMENT ADVERTISING DACH Controlling REVENUES EXPECTED TO GROW IN H2 2025 Lina ENTERTAINMENT DACH ADVERTISING REVENUES CHANGE YOY IN % Q1 Q2 Q3 Q4 • Decline in advertising DACH revenues in Q1 2025 reflects +5% stronger prior-year figures and Easter effect in March +1% • Ent
Slide 13: Content highlights in Q1 with strong TV audience shares and Joyn ranking
ENTERTAINMENT | SEVERAL CONTENT HIGHLIGHTS IN Q1 WITH STRONG TV AUDIENCE SHARES AND JOYN RANKING 8.4% full day March ‘25 with best market share A14-49 for two years PROSIEBEN SAT.1 KABELEINS TOP Market Share TOP Market Share TOP Market Share TOP Market Share TOP Market Share TOP Market Share TOP Mar
Slide 14: Die Landarztpraxis drives growth of Joyn
ENTERTAINMENT | “DIE LANDARZTPRAXIS” – SUCCESSFUL DAILY SOAP DRIVES GROWTH OF JOYN Video Views Market Share Weekly Returning >20m per Episode F 14 – 59 in % Viewers in %2) net reach1) +25.0% +0.8%pts +10.0%pts Season 1 Season 3 Season 1 Season 3 Season 1 Season 3 • Most successful SAT.1 format on Jo
Slide 15: Joyn delivers a strong start into 2025
ENTERTAINMENT JOYN DELIVERS A STRONG GROWTH DRIVEN BY STRATEGIC START INTO 2025 CONTENT FOCUS ON REALITY with the best quarter in its history Exceptional Q1 performance driven by the 20th anniversary season of GERMANY’S NEXT TOPMODEL – including the exclusive GNTM 8.3m 13.5bn +39% STORIES on Joyn –
Slide 16: New Joyn distribution deals and broad HD penetration
ENTERTAINMENT | NEW JOYN DISTRIBUTION DEALS AND BROAD HD PENETRATION SECURING REACH & REVENUE GROWTH 13.9m HD FTA subscribers1) in Q1 2025 EUR 53m Distribution revenues in Q1 2025 +5% vs PY EXTENSIVE DEAL RENEWAL W/ NEW JOYN IN-CAR ENTERTAINMENT SES ASTRA & HD+ DEAL WITH MERCEDES BENZ Deal renewal f
Slide 17: Joyn as premium content aggregator
ENTERTAINMENT | CONTINUOUS EXPANSION OF JOYN’S AGGREGATOR APPROACH JOYN AS PREMIUM CONTENT AGGREGATOR Securing Securing reach of reach of 3 FTA 6 FTA channels channels JOYN CHANNEL DEAL WITH PARAMOUNT / VIACOM JOYN CHANNEL DEAL WITH WARNER BROS. DISCOVERY Deal renewal with Paramount / Viacom to secu
Slide 18: Sale of Verivox to Moltiply; buyout of General Atlantic minority stake
M&A | P7S1 TO BECOME SOLE OWNER OF NUCOM AND PARSHIPMEET GROUP BY BUYING OUT GENERAL ATLANTIC’S MINORITY STAKE IN BOTH ENTITIES SALE OF VERIVOX TO GENERAL ATLANTIC MOLTIPLY TRANSACTION • Alongside the Verivox sale, P7S1 to acquire General Atlantic’s entire minority shareholdings in NuCom Group (excl
Slide 19: Successful exits of two minority participations
COMMERCE & VENTURES | SUCCESSFUL EXITS OF TWO MINORITY PARTICIPATIONS • Urban Sports Club (USC) is a leading sports and wellness platform based in Berlin with offices in Germany, Austria, Switzerland, the Netherlands, Spain, France, Portugal, and Belgium • In June 2021, ProSiebenSat.1 acquired a 15.
Slide 20: flaconi continues strong growth momentum into Q1 2025
COMMERCE & VENTURES | FLACONI CONTINUES ITS STRONG GROWTH MOMENTUM INTO Q1 2025 Flaconi continues its strong growth momentum, showing REVENUE GROWTH IN EUR M double-digit growth in revenue Q1 2025 vs. Q1 2024 while substantially improving adjusted EBITDA +26% Topline growth driven by strong organic
Slide 21: Outlook
To be updated Picture to be updatedIR by by IR 04 Outlook © ProSieben/Willi Weber
Slide 22: Confirming FY 2025 outlook adjusted on March 21, 2025
WE ARE CONFIRMING OUR FY 2025 OUTLOOK ADJUSTED ON MARCH 21, 2025, TAKING INTO ACCOUNT SALE OF VERIVOX FY 2024 FY 2024 PREVIOUS FY 2025 COMMENT (reported) (pro-forma FY 2025 TARGET Verivox/adjusted TARGET ADJUSTED for currency and FOR VERIVOX portfolio effects)1) Group ~EUR 4.00bn ~EUR 3.85bn EUR 3,9
Slide 23: Appendix
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Slide 24: Group P&L
GROUP P&L [in EUR m] Q1 2025 Q1 2024 YoY Revenues 855 867 -1% Adjusted EBITDA 44 72 -39% Reconciling items -50 -7 >+100% EBITDA -6 65 n/a Depreciation, amortization and -51 -47 +7% impairments Thereof PPA -4 -6 -27% Operating result (EBIT) -56 18 n/a Financial result -23 -11 >+100% Thereof interest
Slide 25: Group and segment revenue breakdown Q1 2025
GROUP AND SEGMENT REVENUE BREAKDOWN Q1 2025 Entertainment Commerce & Ventures Dating & Video Total Group External revenues [in EUR m] Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Advertising revenues 428 451 26 28 453 480 DACH 366 393 26 28 392 421 Thereof TV 301 326 301 326 There
Slide 26: Operational KPIs
OPERATIONAL KPIS Q1 Q2 Q3 Q4 FY Q1 2024 2024 2024 2024 2024 2025 Linear TV Audience Share A 20-591) 20.1% 18.3% 18.3% 21.0% 19.4% 18.9% Joyn (DE+AT+CH)2) Monthly Video Users3) 6.54m 7.05m 6.76m 7.88m 7.06m 8.27m Video Viewtime in minutes3) 9.2bn 9.8bn 9.0bn 12.3bn 40.2bn 13.5bn AVoD Revenues (YoY)4)
Slide 27: 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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