Prosiebensat.1 Media (PSM) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened by the Chairman, welcoming shareholders, press, and board members, and confirming the meeting's virtual format for cost and efficiency reasons.

• Shareholders could participate and vote electronically via a dedicated portal, with live broadcasts in multiple languages and sign language.

• The agenda included financial statements, board reports, elections, compensation, and a domination agreement with Join GmbH.

Financial performance review

• 2024 revenues grew by 2% despite a weak TV ad market, with adjusted EBITDA at EUR 557 million and net income at EUR 229 million.

• Commerce & Ventures segment exceeded EUR 1 billion in revenue, with an 81% increase in adjusted EBITDA to EUR 106 million.

• Significant cost-cutting and efficiency programs were implemented, including a headcount reduction and operational restructuring.

Board and executive committee updates

• CEO Bert Habets' contract was extended by three years due to successful transformation efforts.

• Christine Scheffler stepped down from the Executive Board; Markus Breitenecker joined as COO.

• Supervisory Board elections were held for three seats, with Maria Kiriacou proposed as new Chairwoman.