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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Promotora de Informaciones (PRS) investor relations material
Promotora de Informaciones Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
Operating and financial results for 9M 2025 were positive, with revenue and EBITDA up 4% year-over-year at constant currency, excluding the 2024 Cofina arbitration effect.
Free cash flow grew 115% year-over-year, and liquidity position remains robust.
Net debt reduced by €7m compared to September 2024, with a continued focus on deleveraging.
Strong performance in Santillana's learning systems (+19% subscriptions) and EL PAÍS digital subscriptions (+14%).
Advertising revenue grew 3% at constant currency, outperforming the market.
Financial highlights
Revenues reached €609m, up 4% year-over-year at constant currency, excluding Cofina and FX impacts.
EBITDA was €81m, up 4% year-over-year on a comparable basis, with a 13.3% margin.
Free cash flow increased by €11m to €20.7m, net debt reduced by 1% to €774m.
Net attributable loss was €48m, compared to a €37m loss in 9M 2024, mainly due to the absence of the 2024 Cofina arbitration award and lower associate contributions.
Financial results improved 17% year-over-year, driven by lower interest expenses and refinancing gains.
Outlook and guidance
Q4 is expected to be the most significant period, with results dependent on advertising, public education sales in Brazil, and FX trends.
Positive outlook for Brazil's public market in Q4, driven by Ensino Médio/PNLD sales.
The company is focused on delivering improved results versus 2024, excluding the Cofina effect, and continues to develop its 2025-2029 strategic plan.
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Next Promotora de Informaciones earnings date
Q4 202522 Feb, 2026
Next Promotora de Informaciones earnings date
Q4 202522 Feb, 2026
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Frequently asked questions
Promotora de Informaciones S.A. (PRISA) is a Spanish media and education group engaged in publishing, radio broadcasting, and educational content. The company owns brands such as El País, Cadena SER, and Santillana. It operates primarily in Spain and Latin America. The company is headquartered in Madrid, Spain, and its shares are listed on the BME.
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