ProSiebenSat1 Stock: Restructuring Amid Financial Pressures

ProSiebenSat1's stock continues to face challenges, trading at €5.95 on Thursday morning after falling 1.2% on XETRA. This price represents a significant 34% decline from its 52-week high of €7.98 reached in April 2024. The media giant forecasts 2025 revenues between €3.85-4.15 billion and adjusted EBITDA of €500-600 million, reflecting market uncertainties. Last fiscal year showed mixed results with revenue increasing by nearly 2% to €3.9 billion, while adjusted EBITDA decreased by 4% to €557 million, primarily due to investments in streaming platform Joyn. The adjusted net profit rose marginally from €225 million to €229 million. The company plans to maintain its dividend at five cents per share despite weakened consumer spending, which particularly affected the crucial fourth quarter.

Strategic Transformation Under Shareholder Pressure

Major shareholder MediaForEurope (MFE), holding 29.99% of shares, continues pressuring ProSiebenSat1 to divest its e-commerce division and focus on core media operations. In response, the company is negotiating with financial investor General Atlantic to acquire full ownership of NuCom Group and ParshipMeet Group. This transaction could potentially bring General Atlantic in as a new shareholder through a mandatory convertible bond or share transfer. The deal hinges on ProSiebenSat1 selling at least one of its non-core businesses-either online perfumery Flaconi or comparison portal Verivox. The Czech PPF Group remains the second-largest shareholder with approximately 13% of shares.