German media company ProSiebenSat.1 has revised its financial outlook for 2025, citing persistent weakness in the advertising market and a slower-than-anticipated economic recovery in Germany, Austria, and Switzerland. “The economic recovery predicted by many research institutes for this year is now unlikely to materialise,” the broadcaster stated.
This downturn is increasingly reflected in reduced advertising bookings for September and preliminary figures for October, impacting both traditional television and digital advertising. Consequently, ProSiebenSat.1 anticipates a mid-single-digit percentage decline in advertising revenue within its entertainment segment in the DACH region during the third quarter, with a slight decrease projected for the fourth quarter. For the entire year, a mid-single-digit reduction in advertising revenue compared to 2024 is forecast.
The company now projects full-year revenues of approximately €3.65 to €3.80 billion, a reduction from its previous estimate of roughly €3.85 billion. Adjusted EBITDA is expected to fall within the range of €420 to €470 million – significantly lower than the earlier projection of €520 million. In 2024 (adjusted for portfolio changes like the sale of Verivox), this figure reached €537 million. Despite the reduced operating profit, ProSiebenSat.1 anticipates an increase in adjusted net income surpassing last year’s €229 million, primarily attributed to tax benefits. While net financial debt has decreased, the group anticipates a rise in its leverage ratio to 3.0–3.5 times EBITDA by year-end, compared to 2.7 in 2024, due to lower earnings. ProSiebenSat.1 emphasizes its continued focus on “profitability, cost and cash discipline, and the consistent implementation of strategic priorities”.