German media company ProSiebenSat.1 expects adjusted EBITDA of around €405 million for the 2025 financial year, falling below the €420 million lower end of its most recent guidance, as continued weakness in the TV advertising market weighed on performance.
Based on preliminary and unaudited figures, group revenues are expected to amount to approximately €3.68 billion, compared with €3.92 billion in the previous year. On an organic basis, revenues are forecast to be around 2% lower year on year, but within the company’s target range.
The earnings shortfall reflects a challenging market environment in Germany, characterised by an industry-wide decline in TV advertising investment. According to ProSiebenSat.1, this had a negative impact on its TV advertising business, with pressure particularly evident in the fourth quarter, traditionally the group’s most important period.
According to data from Nielsen, gross TV advertising investment in Germany declined by around 4% in 2025 to €16.57 billion, down from €17.30 billion a year earlier. The fourth quarter also recorded a similar fall to €5.49 billion. On a net basis, ProSiebenSat.1 assumes the TV sector was significantly impacted in the final quarter, following declines over the first nine months of the year.
The preliminary figures are subject to ongoing internal validation. ProSiebenSat.1 will publish its fully audited results for the 2025 financial year on 26 March 2026.
