Prosiebensat1 Media U/Adr (PBSFY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen. Welcome to our Q2 and H1 2026 results conference call of ProSiebenSat1 Media SE. This conference is being recorded. Today's call is hosted by Ms. Birte Stein. Please go ahead. Good morning ladies and gentlemen. Welcome to ProSiebenSat1 Investor and Analyst Q2 and H1 2026 results conference call. Today's call will be hosted by our CEO Marco Giordani and our CFO Bob Rajan. Marco will start with a performance overview and key transformation milestones. Bob will then provide you with a deeper dive into our financial performance. Going forward Marco will take over again and present the operational performance and share the outlook for the current financial year which we have confirmed today. Following the presentation, we will open the floor for a Q&A session. I now hand over to Marco. Thank you and thank you all for joining this call. I will take you through, let's say, some slides and then hand over to Bob for the financial highlights. First of all, I would like to underline immediately that our transformation is delivering results and then you will see the details in the P&L. Revenue in the first half was in line with the expectation. Digital and smart revenue grew by almost 6% and that's clearly a combination of joint performance and also other activities performance. Our IBDA grew significantly by 152 million euros in the first half 2026 versus first half 2025. That's clearly mainly driven by cost discipline and focus on savings and efficiency. Our debt was fully under control. At the June end, the debt level was €1,467,000,000. And in terms of ratio and leverage, it was 3.2%. Thank you very much. We deliver on our target of simplifying the portfolio structure. Bob will tell you more about that, but clearly we achieve several dispos...