Slide 1: RTL Group Interim results 2026 Analyst call
11 August 2026 RTL Group Interim results 2026 Analyst call
Slide 2: Agenda
Agenda 01 02 03 05 Highlights Financials Strategy & outlook RTL Group interim results 2026 2
Slide 3: Highlights
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Slide 4: Highlights: RTL Group delivers on transformation strategy
Highlights RTL Group delivers on transformation strategy ꟷ Sky Deutschland (DACH) acquisition closed on 1 June 2026 ꟷ Dynamic growth of streaming services; streaming businesses profitable ꟷ Streaming businesses to contribute ~€100 million to Adjusted EBITA in full year 2026 ꟷ TV advertising and audi
Slide 5: Financials
02 Financials
Slide 6: Key financials H1/2026
Key financials H1/2026 Group revenue Adjusted EBITA1 Group profit in € million Continuing operations Adjusted Organic growth1 +0.1% EBITA 5.8% 8.3% margin1 +3.9% 2,781 2,890 239 61 160 6 H1/2025 H1/2026 H1/2025 H1/2026 H1/2025 H1/2026 Basic & diluted Adjusted EBITDA1 273 347 EPS €(0.14) €0.30 Adjust
Slide 7: Adjusted EBITA development in H1/2026
Adjusted EBITA development in H1/2026 Adjusted EBITA Broadcaster1) Streaming Fremantle Sky DACH in € million & Other (June) +61 239 Fifa World Cup at Groupe M6 +21 160 +65 -68 H1/2025 H1/ H1/ H1/2026 2025 2026 Note: 1. Without streaming and Sky DACH RTL Group interim results 2026 7
Slide 8: Key financials: main business units
Key financials: main business units RTL Deutschland Groupe M6 Fremantle in € million in € million in € million +11% 26.3% 22.0% Audience share Audience share 14 to 59, 25 to 49 excl. Sky DACH -8% Adjusted EBITDA (margin) +2% 1,296 65 83 1,167 7.2% 9.9% 905 >100% 835 -51% +54% 633 644 39 129 110 (4.3
Slide 9: Group profit
Group profit in € million H1/2026 H1/2025 Adjusted EBITA 239 160 Significant special items (107) (74) EBITA 132 86 Impairment of goodwill of subsidiaries - - Amortisation and impairment of fair value adjustments on acquisitions of subsidiaries (25) (24) Impairment and reversals of impairment losses
Slide 10: Cash flow
Cash flow in € million H1/2026 H1/2025 Net cash from/(used in) operating activities (25) (5) Operating free cash flow (71) 25 Income tax paid (40) (103) Acquisitions/disposals of subsidiaries, at-equity investments and other financial assets (50) (1) Transactions with shareholders and their subsidia
Slide 11: Strategy & outlook
03 Strategy & outlook
Slide 12: Strategy framework
Strategy framework Alliances & Core Growth partnerships Portfolio transformation Creativity & Communications & People Regulation AI Entrepreneurship Marketing Enabler RTL Group interim results 2026 12
Slide 13: Strategy update – Core: Fifa World Cup 2026
Strategy update – Core Fifa World Cup 2026 Unprecedented audience success 60m viewers in France on M6 & M6+ 20m viewers for the France vs Spain match; 2nd-highest audience ever recorded by M6 4.2m new users registered on M6+ during the World Cup 1.4bn video views in France on M6 & M6+ social media c
Slide 14: Strategy update – Core
Strategy update – Core Reduction of ~600 positions at RTL Deutschland in 2026, with mid- double-digit million annualised savings Migration of RTL+ (Germany) Significant cost reduction completed end of April 2026, which programmes underway will generate significant cost savings Cost reduction program
Slide 15: Strategy update – Growth: Sky Deutschland (DACH) acquisition
Strategy update – Growth RTL Group acquired Sky Deutschland (DACH)… … becoming the clear #3 − Transformational move for RTL Group, bringing full-year revenue to €8 billion − Combination of RTL Deutschland and ~12.4 Sky Deutschland (DACH) unique proposition across free TV, pay TV, streaming highl
Slide 16: Strategy update – Growth: Entertainment and information at scale
Strategy update – Growth Entertainment and information at scale Content Consumer >€2.5bn content spend 100m people in the DACH region Entertainment Films & series Sports News Free-TV Pay-TV Streaming Digital publishing Audio 47 channels 10+ 31 magazines radio stations 180 podcasts RTL Group interim
Slide 17: Strategy update – Growth: streaming
Strategy update – Growth Paid subscriptions Streaming revenue1 Adjusted EBITA from streaming2 in million in € million in € million +21% ~9 ~600–650 8.73 M6+ 1.13 RTL+ HU 7.23 +27% 6.27 0.87 0.68 5.03 0.54 ~100 7.60 RTL+ DE +65 6.36 299 5.59 31 4.49 235 185 -13 -34 3.43 -59 -74 130 -89 -84 2.03 79 0.
Slide 18: Strategy update – Growth: Fremantle
Strategy update – Growth Highly diversified revenue streams Strategic priorities H1/2026, in % 1. Ramp-up of own IP development By genre1 By region1,2 2. AI deployment across the value chain 3. Focus on IP-driven small to medium-size M&A Entertainment Europe3 4. Expansion into attractive new geograp
Slide 19: Strategy update – YouTube monetisation
Strategy update – YouTube monetisation − Enhance monetisation of Channels 452 495 content libraries & IP Views1 6bn 10bn − Reach complementary audiences H1/2025 H1/2026 beyond linear TV and streaming − Drive inflow to streaming services − Strengthen brands & audience Channels 47 70 engagement Views
Slide 20: Outlook
Outlook 2026 Contribution 2025 2026e 2026e Sky DACH 2026e old new Jun to Dec new (excl. Sky DACH) (excl. Sky DACH) 20262 (incl. Sky DACH) ~€6.1bn to ~€6.1bn to ~€7.1bn to Revenue €6,018m ~€1bn €6.2bn €6.2bn €7.2bn Adjusted EBITA €661m ~€725m ~€725m ~€0m ~€725m Adjusted EBITA ~€25m to €(47)m ~€100m N
Slide 21: Accelerated transformation
Accelerated transformation − Portfolio: focused on core markets Adjusted EBITA in € ~1bn − Streaming: continuous profitable growth − Sky Deutschland acquisition with ~725 m ~€250m synergies 661 m − Fremantle: return to growth and further margin expansion, selected M&A − AI: significant benefits acro
Slide 22: #RTLresults
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Slide 23: Financial calendar 2026
Financial calendar 2026 January RTL Group Financial Results 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 12 March 2026 February at 08:00 CET 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Full-Year Results: January to December 2025 M
Slide 24: Definitions
Definitions Alternative performance measure Explanation Adjusted EBITA represents a recurring operating result and excludes significant special items. RTL Group management has established an ‘Adjusted EBITA’ that neutralises the impacts of structural distortions for the sake of transparency. Based o
Slide 25: Definitions
Definitions Alternative performance measure Explanation In line with RTL Group’s strategy, the company continued to invest heavily in its streaming services, RTL+ in Germany and Hungary and M6+ in France. The Group’s streaming services have seen a rapid increase in the number of paying subscribers (
Slide 26: Definitions
Definitions Alternative performance measure Explanation Operating free cash flow is equal to net cash from operating activities adjusted by income tax paid; transaction-related costs with regard to Operating free cash flow significant disposals of subsidiaries; cash outflows from the acquisitions of
Slide 27: Disclaimer
Disclaimer This presentation is not an offer or solicitation of an offer to buy or sell securities. It is furnished to you solely for your information and use at this meeting. It contains summary information only and does not purport to be comprehensive or complete, and it is not intended to be (and