Promotora de Informaciones (PRS) CMD 2026 Part 1 summary

Strategic vision and financial evolution (2022–2025)

• Achieved significant digital transformation and operational stability, with revenues growing at a 5% CAGR from €741m in 2021 to €904m in 2025 and EBITDA margin rising from 14% to nearly 20%.

• Operational cash generation doubled, reaching EUR 252 million, supporting substantial debt reduction from EUR 926 million to EUR 757 million.

• Net debt reduced by €170m since 2022, with leverage improving from 8.0x in 2021 to 4.3x in 2025.

• Faced macroeconomic headwinds—war in Ukraine, inflation, rising interest rates, and FX impacts—offset by efficiency measures and new revenue streams.

• Successful capital increases and refinancing in 2025 extended maturities to 2029, lowered average debt cost, improved credit ratings, and saw share price rise 18%.

2026–2029 strategic plan and growth targets

• Targeting €1,120m in revenues, €240m EBITDA (21% margin), €100m operating cash flow, and Net Debt/EBITDA below 3x by 2029.

• Growth driven by Santillana (7% CAGR, €600m revenue, €175m EBITDA) and Prisa Media (4% CAGR, €520m revenue, €74m EBITDA), leveraging digital expansion and operational improvements.

• Both business lines expect digital revenues to rise from 39% in 2025 to 46% in 2029, with higher international contributions.

• Focus on further deleveraging, increased cash generation, and access to capital markets, with cost discipline to improve group EBITDA margin to 21% and cash conversion ratio above 40%.

• ESG and sustainability remain core, with top-tier ESG ratings, validated science-based targets, and a focus on quality education across 19 countries.

Santillana business transformation and innovation

• Santillana leads K-12 education in Latin America, impacting 30 million students and 10,000 schools, with 3.6 million subscribers.

• Subscription models now represent 50% of private business revenues, targeting 80% by 2029 and >4.5m subscriptions.

• Heavy investment in technology, AI, and big data, including EUR 6 million in 2023 and ongoing annual investments of EUR 5–7 million.

• Launching disruptive projects: Summun (personalized, AI-driven learning) and Richmond Pro (higher education English certification), expanding into new markets.

• AI initiatives target both user experience (personalized learning, analytics, engagement) and internal efficiencies (content creation, supply chain, marketing).