Atresmedia Corporación de Medios de Comunicación (A3M) Q3 2026 earnings summary

Executive summary

• 9M26 net revenue rose 4.0% YoY to €724.3 million, supported by content production and distribution, other revenue, and AMVIA’s initial contribution. Adjusted EBITDA was €88.2 million and net profit was €53.8 million.

• Audience leadership continued across TV, online, radio and out-of-home advertising; Antena 3 led commercial TV with a 12.5% share.

Financial highlights

• Net revenue reached €724.3 million versus €696.5 million in 9M25; reported EBITDA was €91.3 million versus €90.2 million.

• Adjusted EBITDA was €88.2 million, down 2.3% YoY; adjusted EBIT was €73.8 million, down 4.2%.

• EBIT was €74.3 million versus €77.1 million; profit for the period was €53.8 million versus €63.5 million, down 15.2%.

• Profit declined mainly because 9M25 included late-payment interest from the Spanish Taxation Authorities following a favorable court decision on tax-loss offsets.

Outlook and guidance

• FY26 EBITDA is forecast in line with 2025 on a like-for-like consolidation basis, supported by slight market growth and cost containment.

• AMVIA is expected to contribute roughly €100 million of full-year revenue with an EBITDA margin near 18%.

• Net debt, including the outstanding receivable from the Spanish Taxation Authorities, is expected to approach zero.