Prosiebensat Q1 core profit beats estimates

May 13 (Reuters) - German broadcaster ProSiebenSat.1 Media PSMGn.DE reported first-quarter core profit above market expectations, helped by cost controls under its new owner MFE-MediaForEurope MFEB.MI.

Adjusted earnings before interest, taxes, depreciation and amortization reached 44 million euros ($52 million), ahead of the 37 million euros forecast in a company-provided consensus, it said.

MFE, the Italian media group controlled by the Berlusconi family, took control of ProSiebenSat.1 after a 2025 acquisition.

• Revenue fell to 775 million Euros from 855 million from the same period last year

• The company, which has struggled with a weak TV advertising environment for several quarters, confirmed its 2026 outlook

• It expects slight organic growth in revenue and a leverage ratio of between 3.0 - 3.5 by the year's end

• CFO Bob Rajan flagged a positive trend in its advertisement business, saying April performed better than in the first quarter

• "We are driving the shift toward more agile structures and further cost efficiency," CEO Marco Giordani said in a statement, adding that the company has divested companies that are not part of its strategic focus

• In April, Prosieben sold its North American creator business, continuing its strategy of divesting non-core segments

($1 = 0.8523 euros)