German media company ProSiebenSat.1 has cut its full-year outlook for 2025, citing continued weakness in the advertising market and a sluggish economic environment in Germany, Austria and Switzerland.
“The economic recovery predicted by many research institutes for this year is now unlikely to materialise,” the broadcaster said in a statement. This was increasingly evident in falling bookings for September and the first indications for October – both in traditional television and digital advertising.
As a result, ProSiebenSat.1 expects advertising revenues in its entertainment segment in the DACH region to decline by a mid-single-digit percentage in the third quarter and to fall slightly in the fourth quarter. For the full year, advertising revenues are forecast to be down in the mid-single-digit range compared with 2024.
The company now anticipates full-year revenues of around €3.65 to €3.80 billion, down from its previous forecast of roughly €3.85 billion. Adjusted EBITDA is expected between €420 and €470 million – well below the earlier projection of €520 million. In the previous year, the figure (adjusted for portfolio changes such as the sale of comparison portal Verivox) stood at €537 million.
Despite the lower operating profit, ProSiebenSat.1 expects adjusted net income to rise above last year’s €229 million, mainly due to tax effects. Net financial debt has decreased, but the group forecasts its leverage ratio will increase to 3.0–3.5 times EBITDA by year-end, up from 2.7 in 2024, as a consequence of the reduced earnings.
The focus remains on “profitability, cost and cash discipline, and the consistent implementation of strategic priorities”, stressed ProSiebenSat.1.
