ProSiebenSat.1 forced to adjust financial outlook downwards once more

Germany’s ProSiebenSat.1 has revised its financial outlook downwards for the second time this year amidst continuing struggles of the German ad market.

Bert Habets

ProSiebenSat.1/Amelie Niederbuchner

In a statement this morning the broadcaster said: “Based on an evaluation of current business and forecast data on the expected business development in the Entertainment segment for the second half of 2025, the executive board of ProSiebenSat.1 Media decided today to adjust the outlook for the financial year 2025.”

It follows a similar forecast in March and despite Italy’s MFE acquiring a majority stake in the business earlier this month.

ProSiebenSat.1 blamed the macroeconomic environment in the German-speaking region which “continues to be characterised by considerable uncertainty”. It says the economic recovery previously forecasted by research institutes is now unlikely to materialise.

The advertising demand for September and in the first indications for October are below expectations in both linear TV and digital advertising products, according to the broadcaster.

Therefore, ProSiebenSat.1 now assumes the economic situation in the German-speaking region will remain difficult in the fourth quarter, which is the most important quarter for the company.

As a result, the company now expects entertainment advertising revenues in the German-speaking region to decline by a mid-single-digit percentage range in the third quarter and to decline slightly in the fourth quarter. Due to the significant declines in the first half year, this is expected to result for the entire year in a decline in entertainment advertising DACH revenues in the mid-single-digit percent.

As a result of the updated expectations for market and business development, ProSiebenSat.1 is adjusting its outlook for group revenues and adjusted EBITDA.

The group now aims for revenues of around €3.65-3.8bn for the 2025 financial year, taking into account the sale of Verivox (previous year adjusted for currency effects and portfolio changes: €3.77bn). Previously, the company had expected a slightly higher group revenue figure for 2025 of around €3.85bn with a variance of plus/minus €150m.

Furthermore, the group now expects adjusted EBITDA to be between €420-470m. Previously, the forecast for adjusted EBITDA was €520m with a variance of plus/minus €50m.