Métropole Télévision (MMT) Q1 2025 earnings summary

Executive summary

• Achieved best Q1 video advertising performance since 2019, with consolidated revenue of €314.9m and video advertising revenue of €222.0m, up 0.8% year-over-year.

• Streaming revenue grew 25.9% to €24.7m, now 9.9% of total video revenue, reflecting digital transformation.

• Non-advertising revenue declined 13% year-over-year, mainly due to weaker cinema activity after a record Q1 2024.

Financial highlights

• Consolidated revenue: €314.9m, down 2.3% year-over-year.

• EBITA: €48.1m, impacted by higher streaming costs and lower production & audiovisual rights performance.

• Net cash position: €277.6m at March 31, 2025, up from €256.5m at December 31, 2024.

• Dividend of €1.25 per share proposed, yielding 11.1% based on 2024 closing price.

Outlook and guidance

• Q2 2025 expected to be weaker than Q2 2024 due to absence of UEFA Euro 2024 boost.

• Visibility for the remainder of 2025 remains low amid global economic and political uncertainty.