ProSieben’s core profit drops due to weak German ad market

March 26 (Reuters) – Media group ProSiebenSat.1 reported a 28% fall in its adjusted 2025 core profit on Thursday, as it ​continues to struggle with low advertising revenues and uncertainty in ‌its home market of Germany.

The company, controlled by Italy’s MFE after a 2025 acquisition, said its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were 403 ​million euros ($466 million) last year, down from 557 million euros ​in 2024 and below its own guidance of 420-450 million euros.

ProSieben ⁠has struggled with a weak TV advertising environment for several quarters, ​as consumer restraint in a difficult macroeconomic environment was met with cautious ​spending by TV advertisers, which forced the company to cut its 2025 outlook twice.

Advertising revenue for the entertainment unit in the German, Austrian and Swiss markets fell ​8% compared to the prior year.

For 2026, the broadcaster forecast slightly ​lower reported revenue compared with last year’s 3.68 billion euros, as it expects any improvement ‌in ⁠TV advertising to happen only in the second half of the year.

It said EBITDA would rise significantly, helped by continued cost reductions. It did not provide a guidance for the adjusted number that would ​exclude one-off effects ​that negatively affected ⁠2025 earnings.

Following MFE’s acquisition and the appointment of industry veteran Marco Giordani as ProSieben’s CEO, the broadcaster ​has sharpened its focus on its core entertainment operations ​and moved ⁠to streamline its portfolio and reduce debt.

The German group said earlier on Thursday it had sold comparison portals billiger-mietwagen.de and CamperDays for undisclosed amounts. ⁠It ​has also offloaded marketing company esome, retail ​media specialist Kairion and weather forecast platform Wetter.com since Giordani took the helm.

($1 = 0.8651 euros)