Métropole Télévision (MMT) Q4 2024 earnings summary

Executive summary

• M6 Group achieved stable consolidated revenue of €1,311.2M in 2024, driven by digital and streaming focus, strong brand/content, and a successful M6+ launch.

• EBITA declined 19.5% to €242.1M, reflecting digital transformation investments and a weaker H2 ad market.

• Net profit dropped 27% to €173.1M.

• Major sporting events (UEFA EURO2024, Paris 2024) boosted advertiser interest and audience engagement.

• Cinema division had an excellent year, with M6 Group films accounting for 33% of French film admissions.

Financial highlights

• Consolidated revenue was €1,311.2M in 2024, stable year-on-year; group advertising revenue €1,061.6M (-0.5%).

• Video advertising revenue grew 0.8% to €912.3M; streaming revenue up 34.2% to €99.5M.

• EBITA margin fell to 18.5% (from 22.9%); net profit €172.8M (down from €234.1M).

• Net cash and cash equivalents at year-end: €256.5M, down due to bond repayment.

• Cash flow from operating activities was €199.0M, down from €306.7M.

Outlook and guidance

• Streaming and digital transformation remain key priorities, with continued investment planned for 2025.

• Streaming revenue target of over €200M and more than 1 billion hours viewed by 2028 reaffirmed.

• Strong start to 2025 with highest year-on-year growth on the commercial target in January.

• Flexible content investment model to be maintained.