The group reported a sharp increase in 2025 earnings driven by exceptional items, despite a more challenging operating environment marked by declining advertising revenues.
NRJ reported a group share of net income of 83.8 million euros (consensus: 53.6 million euros), up 99.5% year-on-year. This figure includes 53.2 million euros in net income from discontinued operations, largely related to the disposal of Chérie 25. The bottom line doubled compared to the 42 million euros recorded in 2024.
Conversely, net income from continuing operations fell by 32.9% to 30.6 million euros, reflecting a deterioration in operating performance.
Consolidated revenue (excluding barter) came in at 321 million euros, down 3.3%, penalized by the shutdown of NRJ 12 and an unfavorable advertising climate, though remaining in line with the consensus (322 million euros).
Breaking down the results, the Media division saw revenue decline by 4.4% to 237.3 million euros, with a sharp drop in current operating income (-42.6%) affected by lower revenues and increased investment in programming. The Broadcasting division remained virtually stable (-0.1% at 83.7 million euros).
Meanwhile, EBITDA (excluding barter) decreased by 21% to 65 million euros, while current operating income (excluding barter) slumped by 34.1% to 33.2 million euros, under the combined effect of lower activity and a 2.2% increase in operating expenses.
Total free cash flow amounted to 99.7 million euros, a significant increase from 43.6 million euros in 2024, again benefiting from discontinued operations. The net cash surplus reached 398 million euros, up 24.8%, confirming the strengthening of the group's financial structure.
Regarding shareholder returns, NRJ Group will propose a total dividend of 0.40 euros per share, up 38%, comprising an ordinary dividend of 0.23 euros and a special dividend of 0.17 euros.
In terms of outlook, the group highlighted its financial strength to continue developing its Media and Broadcasting activities, with a focus on digital transformation and diversification.
NRJ GROUP is one of France's leading private media groups, a publisher, producer, broadcaster, and advertising sales house. In France, the Group is a leader in the private market for national and local radio and audio with its 4 powerful and complementary brands (NRJ, CHERIE FM, NOSTALGIE and RIRE & CHANSONS), which provide an editorial offering focused on music and entertainment. NRJ GROUP is also the leading private digital radio group. Drawing on the strength of its brands, the Group has developed a digital ecosystem comprising a wide range of content (live digital streams, almost 270 topical digital radio stations, original and catch-up podcasts), accessible via a variety of media (websites, mobile apps, smart speakers, third-party platforms) to optimise access thereto. The Group markets the content it publishes, but also positions itself as an external content aggregator. This approach allows the Group to provide advertisers on the digital audio market with a significant, context-appropriate offering as part of a secure communication environment. On the international market, the Group operates in 13 other countries directly, through partnerships or licensing agreements, primarily with NRJ, the number one international radio brand, and NOSTALGIE. The Group is also the 2nd largest operator on the French terrestrial broadcasting market, through its TowerCast subsidiary, which broadcasts FM and DAB+ radio stations and DTT television channels, thanks to its dense infrastructure network, technological expertise and knowledge of the territories.
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