Prosiebensat.1 Media Se · XETR:PSM

Prosiebensat.1 Media — Q3 2025 Earnings Presentation

31 slides from Prosiebensat.1 Media's earnings presentation, Nov 12, 2025

  1. Slide 1: Q3 2025 Results Presentation

    Q3 2025 Presentation Results Presentation November 12, 2025 © Joyn / Christoph Köstlin/Dung Nguyen

  2. Slide 2: Summary, Financials, Operations, Outlook

    © Joyn © Joyn / Nadine Rupp © Joyn / Renè Lohse © Joyn / Christoph Köstling 01 02 03 04 Summary Financials Operations Outlook

  3. Slide 3: Summary

    01 Summary © ProSieben / Richard © Joyn Hübner / Claudius ©Pflug Joyn

  4. Slide 4: Key Financial and Operational Summary

    Group revenues Stable Digital & MFE increased Prosiebensat.1 ProSiebenSat.1 of EUR 820m in q3 Smart its stake in signed New EUR confirms 2025 (-2% yoy advertising ProSiebenSat.1 2.1bn debt revenue organically), revenues in Q3 to 75.61% financing targets adjusted EBITDA 2025 of EUR 76m reflecting ong

  5. Slide 5: Financials

    To be updated Picture to be updatedIR by by IR 02 Financials © Joyn, © Joyn / Julien © Joyn ProSieben Mathieu / /Theis Nadine Rupp Poulsen © Seven.One / Florida TV / Julian Mathieu

  6. Slide 6: Group revenue and adjusted EBITDA development reflects still difficult market environment

    GROUP REVENUE AND ADJUSTED EBITDA DEVELOPMENT REFLECTS STILL DIFFICULT MARKET ENVIRONMENT COMMENTS • Group revenues amounted to EUR 820m in REVENUES, EARNINGS AND CASH FLOW KPIS [IN EUR M] Q3 2025 and EUR 2,515m in 9M 2025, reflecting demanding macroeconomic environment in our core markets and Q3 20

  7. Slide 7: Joyn's AVoD and SVoD business continue to support Entertainment segment

    JOYN'S AVOD AND SVOD BUSINESS CONTINUE TO PROVIDE SUPPORT TO ENTERTAINMENT SEGMENT COMMENTS • Entertainment revenues decreased by 6% ENTERTAINMENT EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] in Q3 2025 and by 5% in 9M 2025. On portfolio and currency-adjusted basis revenues declined by 5% in both Q3

  8. Slide 8: Commerce & Ventures showed strong organic revenue growth

    COMMERCE & VENTURES SHOWED STRONG ORGANIC REVENUE GROWTH OF +16% IN Q3 2025 AND 9M 2025 COMMENTS • Commerce & Ventures reported revenues COMMERCE & VENTURES EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] decreased by 5% in Q3 2025 due to deconsolidation of Verivox at the end of Q1 2025. In 9M 2025 rev

  9. Slide 9: Dating & Video segment revenues still in decline, margin improved

    DATING & VIDEO SEGMENT REVENUES STILL IN DECLINE, BUT SEGMENT MARGIN HAS IMPROVED COMMENTS • Dating & Video segment revenues DATING & VIDEO EXTERNAL REVENUES AND ADJ. EBITDA [IN EUR M] amounted to EUR 66m in Q3 2025, representing a 23% decline year-on-year. 9M 2025 revenues decreased by 24% to Q3 20

  10. Slide 10: MFE's public takeover offer successful, new shareholder structure

    MFE’S PUBLIC TAKEOVER OFFER HAS BEEN SUCCESSFUL, RESULTING IN A NEW SHAREHOLDER STRUCTURE OF PROSIEBENSAT.1 SHAREHOLDER STRUCTURE PRIOR TO TAKEOVER OFFERS SHAREHOLDER STRUCTURE AFTER SETTLEMENT Treasury Shares Treasury Shares ProSiebenSat.1 ProSiebenSat.1 0.1% 0.1% Free Float 24.3% 33.3% Free 54.8%

  11. Slide 11: New debt financing of EUR 2.1bn agreed

    NEW DEBT FINANCING IN THE AMOUNT OF EUR 2.1BN AGREED AS PREVIOUS LENDERS HAVE LARGELY EXERCISED THEIR TERMINATION RIGHT DUE TO CHANGE OF CONTROL PRO FORMA DEBT MATURITY PROFILE1) OF NEW FINANCING IN EUR M COMMENTS New Debt Financing • Previously announced extension of Senior Facilities Agreement did

  12. Slide 12: Operations

    To be updated Picture to be UpdateIR by updated IRIR by 03 Operations © © Joyn © Joyn /Joyn // Willi RenèWeber Claudius Pflug Lohse

  13. Slide 13: Updated macroeconomic estimates for H2 2025 indicate weaker development

    ENTERTAINMENT | UPDATED MACROECONOMIC ESTIMATES FOR H2 2025 PUBLISHED IN SEPTEMBER INDICATE A WEAKER DEVELOPMENT THAN PREVIOUSLY ASSUMED IFO REAL GDP IFO REAL PRIVATE CONSUMPTION IFO BUSINESS CLIMATE INDEX (2015=100) IN % VS. PY IN % VS. PY 93 Business Climate -1.0pts -0.6pts 92 Business Expectation

  14. Slide 14: Development of gross TV advertising spend deteriorated in most industries

    ENTERTAINMENT | DEVELOPMENT OF GROSS TV ADVERTISING SPEND DETERIORATED IN MOST INDUSTRIES IN Q3 2025 TOP 15 TV ADVERTISING INDUSTRIES, GROSS AD SPEND1) IN EUR M, YOY CHANGE IN +/-% Q3 2025 SPEND VS. PY 9M 2025 SPEND VS. PY Food 544 1% Food 1.431 -4% Cosmetics + Toiletries 454 -15% Cosmetics + Toilet

  15. Slide 15: AI is an increasingly integral part of our value chain

    ENTERTAINMENT | AI IS AN INCREASINGLY INTEGRAL PART OF OUR VALUE CHAIN, ENABLING ADVERTISING CUSTOMERS WITH SMALLER BUDGETS TO BE PRESENT ON TV Turn real Image to Ads with Find all types of Advertising Give your old Ads the Power of AI AI-generated a New Drive The unmatched precision of our AI-gener

  16. Slide 16: ProSiebenSat.1 strengthened channel performance and narrowed gap to Ad Alliance

    ENTERTAINMENT | PROSIEBENSAT.1 STRENGTHENED CHANNEL PERFORMANCE AND NARROWED GAP TO AD ALLIANCE BOTH IN Q3 2025 AND 9M 2025 COMMENTS Performance • Full Day P7S1 continued in Q3 2025 with LINEAR AUDIENCE SHARE DEVELOPMENT [FULL DAY, A 20-59, IN %] reduced gap to Ad Alliance • Overall 9M 2025 gap decr

  17. Slide 17: Strong performing local highlights on linear TV and digital channels

    ENTERTAINMENT | STRONG PERFORMING LOCAL HIGHLIGHTS ON LINEAR TV AND DIGITAL CHANNELS SELECTED TV/JOYN FORMATS Q3 market share vs. slot average LTM Q3 video views on Joyn Existing formats New Joyn focus +3.5pts +2.3pts1) +1.5pts 10.9m 0.3m 7.2m 14.3m 27.1m +0.3pts +0.5pts +0.4pts Sports 1.9m 0.4m 0.2

  18. Slide 18: Our windowing approach relies on content usage across all channels

    ENTERTAINMENT | EXAMPLE | OUR WINDOWING APPROACH GOING FORWARD HEAVILY RELIES ON USAGE OF CONTENT ACROSS ALL OUR LINEAR AND DIGITAL CHANNELS Prime time/ Prime time/ Prime time Joyn Originals access time access time Q4 25 HIGHLIGHTS Das 1% Quiz The Taste Factual Highlights Die Abrechnung Willkommen b

  19. Slide 19: Continuing strong growth of all relevant Joyn KPIs

    ENTERTAINMENT | CONTINUING STRONG GROWTH OF ALL RELEVANT JOYN KPIS JOYN Another highly successful quarter especially for our users’ engagement on the platform 7.7m 12.7bn +42% Monthly Video Minutes Video Joyn AVoD Users Q3 20251) Viewtime Q3 20251) Revenues Q3 2025 vs. PY2) +13% vs. PY +42% vs. PY S

  20. Slide 20: Seven.One Studios establishes production company studio flitz for creator content

    ENTERTAINMENT | SEVEN.ONE STUDIOS ESTABLISHES PRODUCTION COMPANY STUDIO FLITZ FOR CREATOR CONTENT We founded studio flitz to fostering Long-Term Creator Partnerships • Younger audiences are driving a surge in demand for authentic creator content. • Joyn needs engaging, cost- effective formats to cap

  21. Slide 21: Flaconi and Aroundhome continuing strong momentum

    COMMERCE & VENTURES | FLACONI AND AROUNDHOME CONTINUING THEIR STRONG MOMENTUM WITH STRONG DOUBLE-DIGIT PERCENT REVENUE GROWTH EXTERNAL REVENUES IN EUR M +28% +15% 395 46 40 308 9M 2024 9M 2025 9M 2024 9M 2025 • Flaconi continues strong growth momentum in Q3 resulting in • Following its strong growth

  22. Slide 22: Flaconi continues growth story in a challenging market environment

    COMMERCE & VENTURES | FLACONI CONTINUES GROWTH STORY IN A CHALLENGING MARKET ENVIRONMENT NET ORDER INTAKE FROM INTERNATIONAL COUNTRIES IN EUR M • Flaconi significantly outperformed the German premium online beauty market and continuously increases its market share +108% to > 25% 24 • Q3 with over 10

  23. Slide 23: Outlook

    To be updated Picture to be UpdateIR by updated IRIR by 04 Outlook ©©ProSieben/Willi © Seven.One / Nadine Joyn / Christoph Rupp Weber Köstling

  24. Slide 24: ProSiebenSat.1 confirms revenue targets but specifies adjusted EBITDA range

    PROSIEBENSAT.1 CONFIRMS REVENUE TARGETS BUT SPECIFIES RANGE FOR ADJUSTED EBITDA AGAINST THE BACKDROP OF A CONTINUED WEAK ADVERTISING ENVIRONMENT FY 2024 (pro-forma FY 2025 TARGET FY 2024 Verivox/adjusted for currency and (as published on September 16, Adjusted COMMENT (reported) portfolio effects)1)

  25. Slide 25: Appendix

    Appendix © Joyn / Christoph Köstlin/Dung Nguyen

  26. Slide 26: Group P&L

    GROUP P&L [in EUR m] Q3 2025 Q3 2024 YoY 9M 2025 9M 2024 YoY Revenues 820 882 -7% 2,515 2,656 -5% Adjusted EBITDA 76 104 -27% 174 267 -35% Reconciling items -8 -6 +28% -135 -27 >+100% EBITDA 68 98 -31% 39 240 -84% Depreciation, amortization and -47 -47 -1% -147 -141 +4% impairments Thereof PPA + Goo

  27. Slide 27: Group and segment revenue breakdown Q3 2025

    GROUP AND SEGMENT REVENUE BREAKDOWN Q3 2025 Entertainment Commerce & Ventures Dating & Video Total Group External revenues [in EUR m] Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Advertising revenues 421 450 26 28 446 478 DACH 360 382 26 28 386 410 Thereof TV 288 311 288 311 There

  28. Slide 28: Group and segment revenue breakdown 9M 2025

    GROUP AND SEGMENT REVENUE BREAKDOWN 9M 2025 Entertainment Commerce & Ventures Dating & Video Total Group External revenues [in EUR m] 9M 2025 9M 2024 9M 2025 9M 2024 9M 2025 9M 2024 9M 2025 9M 2024 Advertising revenues 1,293 1,392 83 88 1,376 1,480 DACH 1,110 1,200 83 88 1,193 1,288 Thereof TV 896 9

  29. Slide 29: Operational KPIs

    OPERATIONAL KPIS Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 2024 2024 2024 2024 2024 2025 2025 2025 Linear TV Audience Share A 20-591) 20.1% 18.3% 18.3% 21.0% 19.4% 18.9% 21.0% 19.9% Joyn (DE+AT+CH)2) Monthly Video Users3) 6.54m 7.05m 6.76m 7.88m 7.06m 8.27m 9.21m 7.67m Video Viewtime in minutes3) 9.2bn 9.8bn 9.0bn 12

  30. Slide 30: 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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