Slide 1: H1 2025 Results
H1 2025 Results 29 July 2025 TOUT POUR LA LUMIÈRE
Slide 2: Disclaimer
Disclaimer This presentation contains rounded figures and contains forward-looking information and statements about the TF1 group. Forward-looking statements are statements that are not historical facts, and include, but are not limited to: financial projections, forecasts and estimates and their un
Slide 3: Highlights
Highlights STABLE AD REVENUE CONTINUED STRONG CONSOLIDATED IMPACTED BY MACRO MOMENTUM FOR Leadership maintained REVENUE UNCERTAINTIES Group revenue Group advertising revenue Digital advertising revenue W<50PDM 25-49 YO €1,103m €782m +41.4% 33.7% 30.7% -0.1% vs H1 2024 -2.5% vs H1 2024 vs H1 2024 -0.
Slide 4: Business review, Financials, Strategy update and outlook
01. Business review P.5 02. Financials P.11 03. Strategy update and outlook P.16 04. Q&A P.19 4 H1 2025 FINANCIAL RESULTS
Slide 5: Business review
01. Business review DANSE AVEC LES STARS
Slide 6: A strong value proposition
A strong value proposition Unrivalled daily reach among media TF1 channels: the best ROI on the French TV market invested = ROI 77% TF1 DTT channels TF1 channel 53% 11% of TV 10% 43% of TV 41% sales contribution of investments sales contribution of investments 34% ROI: €6.3 ROI: €6.6 TF1 DTT 17% 17%
Slide 7: Audience leadership
Audience leadership Strong ratings in each genre Significant gap vs main competitor French drama News Entertainment 33.7 +9.2 pts W<50PDM vs main competitor 22.9 13.7 9.3 4.5 4.1 3.6 2.8 2.7 2.2 2.2 1.8 0.5 0.4 TF1 M6 F2 TMC W9 TFX 6ter F3 Gulli F5 LCI F.info -0.9 -0.4 +0.5 +1.0 -0.2 -0.2 +0.2 +0.3
Slide 8: Update on streaming
Update on streaming Virtuous linear & streaming strategy Progress on all building blocks 25-49 Y/O NON- LINEAR LINEAR Awareness Visibility Consumption Ad inventories CPM 79% 21% 35m STREAMERS3 monthly average in H1 2025 AIDED FIRST +7% vs H1 2024 AD AWARENESS1 VISIBILITY2 LOAD CPM DAILY SOAPS 81% 65
Slide 9: Expansion in French-speaking markets
Expansion in French-speaking markets Encouraging first steps in Africa French-speaking markets now TF1+ STREAMED HOURS IN AFRICA BELGIUM LUXEMBOURG Maghreb Sub-Saharan Africa SWITZERLAND 68% 32% FRENCH-SPEAKING AFRICA TOP 3 COUNTRIES % of TF1+ streamed hours in Africa FRENCH-SPEAKING MARKETS Morocco
Slide 10: Studio TF1 H1 highlights
H1 highlights Drama Production Distribution Revenue of €128m IN H1 2025 +6% year on year COPA of Cinema Unscripted €6m IN H1 2025 +€2m year on year 10 ~245k ~290k ~470k ~480k H1 2025 FINANCIAL RESULTS tickets sold tickets sold tickets sold tickets sold
Slide 11: Financials
02. Financials SECRET STORY
Slide 12: Consolidated revenue per segment
Consolidated revenue per segment (€m) Q2 2025 Q2 2024 CHG.% H1 2025 H1 2024 CHG.% MEDIA • Advertising revenue impacted by Media 514 530 (3.2%) 975 984 (0.9%) macro uncertainties; EURO 2024 base effect Advertising revenue 419 438 (4.4%) 782 802 (2.5%) • Continued strong momentum for TF1+, with advert
Slide 13: Current operating profit from activities per segment
Current operating profit from activities per segment (€m) Q2 2025 Q2 2024 CHG. H1 2025 H1 2024 CHG. MEDIA • Stable COPA in H1 in a challenging Media 81 88 (8) 125 125 0 o/w programming costs advertising market (230) (242) +12 (451) (459) +8 • Premium programming maintained; programming costs down €8
Slide 14: Consolidated income statement
Consolidated income statement (€m) Q2 2025 Q2 2024 CHG. H1 2025 H1 2024 CHG. Consolidated revenue 583 592 (1.6%) 1,103 1,104 (0.1%) Total costs of programmes (230) (242) +12 (451) (459) +8 Other charges, depreciation, amortisation and provisions (265) (259) (6) (521) (516) (5) Current operating prof
Slide 15: Solid net cash position at end-June 2025
Solid net cash position at end-June 2025 Free cash flow before changes in WCR €86 million 242 (6) 11 (2) (150) 506 473 €m (128) Free cash flow after changes in WCR €97 million Opening net cash Net cash Repayment of Net capital Changes in Acquisitions Dividends Closing net cash position at flow1 leas
Slide 16: Strategy update and outlook
03. Strategy update and outlook STAR ACADEMY
Slide 17: Outlook
Outlook A strong line-up Phase 2 of our strategic plan New premium Powerful unscripted Flagship French series franchises sports events 30 JUNE 2025 Expansion in French- speaking markets with the launch of TF1+ in Africa SEPTEMBER/OCTOBER 2025 Launch of a micro-payment offer on TF1+ Previews Movies E
Slide 18: Full-year 2025 guidance confirmed
Full-year 2025 guidance confirmed after a first part of the year marked by a more challenging advertising market than expected, and with visibility remaining very limited Strong double-digit revenue growth in digital Broadly stable margin from activities compared with 2024 Aiming for a growing divid
Slide 19: Q&A
Q&A 19 H1 2025 FINANCIAL RESULTS
Slide 20: Slide 20