ProSiebenSat.1 Media (PSM) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened by the Chairman of the Supervisory Board, welcoming shareholders, press, and employees, and confirming compliance with legal and statutory requirements for convening the meeting.

• The AGM was held virtually to enable broader participation, reduce costs, and align with ongoing efficiency programs.

• Shareholders could participate, vote, and speak via a secure online portal, with detailed instructions provided for electronic engagement.

• 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 advertising market and challenging macroeconomic conditions.

• Adjusted EBITDA reached EUR 557 million, and adjusted net income was EUR 229 million, meeting targets.

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

• Significant cost reduction and efficiency measures were implemented, including a voluntary workforce reduction program.

Board and executive committee updates

• CEO Bert Habets' contract was extended by three years, recognizing his leadership in transformation.

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

• Three Supervisory Board seats were up for election, with Maria Kiriacou proposed as new Chairwoman.