The most important event of the past year, also from a financial perspective, was the acquisition of RTL Nederland on 1 July 2025. In the income statement, the results of this company were included in the consolidation for the second half of the year. During that period, the acquired activities contributed €338 million in revenue, versus €643 million on a full-year basis. The EBITDA contribution amounted to €87 million, versus €159 million on a full-year basis. The EBITA contribution was €63 million, versus €133 million on a full-year basis, and was negatively impacted by €29 million due to acquisition-related costs in the consolidation.

As a result of this acquisition, the group achieved consolidated revenue of €2.054 billion in 2025. Organically, revenue grew by 1% over the past year. Readership revenue increased by 2% to €828 million, mainly driven by higher revenue from news media. At magazines, readership revenue declined slightly. In streaming, consumer revenue amounted to €84 million, primarily driven by Videoland subscription revenue in the second half of the year.

Advertising revenue came in at €753 million, of which €200 million was attributable to the RTL acquisition. Organically, advertising revenue declined by 2%. Radio and digital revenue drove growth, which was offset by a decline in print and linear TV revenue. Digital and audiovisual advertising now account for more than 90% of total advertising revenue.

Affiliate and classifieds revenue grew by 4%, thanks to growth at Independer and Tweakers. Revenue came in at €121 million last year. At the end of 2025, the stake in Automotive MediaVentions was sold. As a result, these activities have been reported as discontinued operations in the income statement since January 2024.

The group’s EBITDA amounted to €440 million last year, representing 21.4% of revenue. Of this €440 million, 71% was generated in the Netherlands and 29% in Belgium. Depreciation totalled €100 million, of which €22 million related to acquisitions. EBITA came in at €339 million. The result from participations was roughly break-even.

Less financial expenses (€25 million) and corporation taxes (€76 million), the result from continued operations amounted to €238 million, an increase of 31%. The result from discontinued operations totalled €151 million for the year. Final net profit amounted to €389 million. Group equity grew to €1,478 million, or 45% of total assets.

Net operational free cash flow after tax amounted to €343 million. Net investment cash flow was €988 million, of which €43 million related to CapEx investments.

In 2025, free cash flow once again enabled rapid debt reduction. Just six months after the largest acquisition in DPG Media’s history, net financial debt has already been reduced to 1.4 times EBITDA.