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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Promotora de Informaciones
Promotora de Informaciones (PRS) investor relations material
Promotora de Informaciones Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Jul, 2026
Executive summary
Group revenue rose 26% year-over-year to EUR 513 million, with EBITDA up 70% to EUR 86 million and EBITDA margin improving by over 4 percentage points to 16.8%.
Both main business units delivered revenue, EBITDA, and margin growth, driven by Santillana's Brazilian public market, robust subscription growth, and solid advertising trends in Prisa Media.
Net debt to EBITDA ratio improved to 3.78x from 4.26x a year earlier, with net bank debt down 2% year-over-year, reflecting ongoing deleveraging.
Cash generation improved, with operating cash flow up EUR 13 million and total cash flow up 10%.
Financial highlights
Revenue: EUR 513 million (+26% YoY); EBITDA: EUR 86 million (+70% YoY); EBITDA margin: 16.8% (+4.3pp YoY).
Net result improved by 49% YoY.
Operating cash flow turned positive at EUR 6 million (vs. -EUR 7 million in H1 2025); total cash flow up EUR 3 million (+10%).
Net financial debt (including IFRS 16) stood at EUR 779 million, stable year-over-year.
Liquidity stood at EUR 209 million at period end.
Outlook and guidance
Confident in achieving 2026 targets: revenue above EUR 1 billion, EBITDA margin 18–19%, net debt/EBITDA below 3.9x.
Growth is expected to continue, driven by recurring subscription models and digital transformation.
Second half advertising growth expected to slow versus H1 due to absence of extraordinary events, but still outperforming the market.
Santillana private market EBITDA expected to recover in H2 as new projects consolidate.
The Group remains focused on deleveraging and strengthening its liquidity position.
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Latest events from Promotora de Informaciones
- Revenue and EBITDA rose, FCF beat guidance and leverage fell to 4.3x.PRS
Q4 2023 - All agenda items, including a share counter split and new strategic plan, passed with over 99% support.PRSAGM 2026
- Ambitious 2029 targets set: €1,120m revenue, €240m EBITDA, and Net Debt/EBITDA below 3.0x.PRSCMD 2026 Part 2
- 2029 targets: €1,120m revenue, €240m EBITDA, and Net Debt/EBITDA below 3.0x, led by digital and AI growth.PRSCMD 2026 Part 1
- Deferred Brazil PNLD revenue and FX headwinds led to lower results, but liquidity stayed strong.PRSQ4 2025
- Revenue and EBITDA up 4% at constant currency, with strong cash flow and digital growth.PRSQ3 2025
- EBITDA and revenues grew, refinancing improved stability, and digital subscriptions surged.PRSQ2 2025
- Solid H1 2024 growth in revenue, EBITDA, and digital subscriptions, with lower net debt.PRSQ2 2024
- EBITDA rose to €185M, net debt fell 10%, and digital subscriptions grew strongly.PRSQ4 2024
Next Promotora de Informaciones earnings date
Q3 202612 Nov, 2026
Promotora de Informaciones
Next Promotora de Informaciones earnings date
Q3 202612 Nov, 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.