Banijay Group N.V.

BNJ

Equity

ISIN NL0015000X07 / Valor 119402751

Euronext - Euronext Amsterdam (2026-10-02)

EUR 8.20%

Banijay Group N.V.
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About company

Banijay Group N.V. is a leading global content producer and distributor, headquartered in France and overseen by CEO Marco Bassetti. Established in 2008, the company encompasses over 130 production entities across 23 countries, generating more than 200,000 hours of diverse content annually. In 2024, Banijay Entertainment and its live events division, Banijay Live, reported revenues of approximately €3.348 billion and an EBITDA of €528 million. The group specializes in both scripted and non-scripted programming, launching over 250 new non-scripted titles and 110 scripted titles, alongside 80 shows tailored for streaming platforms and the creation of 33 unique formats across multiple territories. Banijay is recognized for developing and distributing high-quality intellectual properties, including well-known franchises such as Survivor, Big Brother, Peaky Blinders, and MasterChef, among others, underscoring its significant presence in the global entertainment industry.

Summarized from source with an LLMView SourceSector: Finance

Key headline numbers

Q1 2026 revenue €1,147.5m (+9.0% cc), Adjusted EBITDA €196.6m (+5.4% cc), adjusted net income €56.9m (+18.1%), reported net income €32.0m (‑10.9%), adjusted free cash flow €161.4m (+7.7%) with 82.1% conversion. Cash position ~€423.6m and net financial debt €2,589m (leverage 2.7x vs end‑2025).

Sports betting & Gaming performance

Sports betting & Gaming revenue €433.1m (+17.3% cc). Unique Active Players +20%. Sportsbook €326.5m (+14.4%); Casino/poker/turf +27.0% (new poker platform rollout, online casino ramp in Côte d’Ivoire). EBITDA in the segment was affected by French betting tax; Adjusted EBITDA would have grown materially higher excluding that tax impact.

Entertainment & Live trends

Entertainment & Live revenue €714.5m (+4.5% cc). Live experiences surged (+101.5% to €139.0m) driven by Milano‑Cortina Opening Ceremony and Luminiscence roll‑outs. Content production revenue down (phasing) to €502.2m (‑9.3% cc), distribution up 20.0% (format sale included).

Profitability and margins

Group Adjusted EBITDA margin was 17.1% in Q1 2026 (vs 17.6% prior year); restated for the French betting tax increase, margin would have risen to c.18.1%. Entertainment & Live delivered the quarter’s EBITDA growth; Sports betting & Gaming margins were temporarily compressed by the tax change.

Cash flow, balance sheet and capital structure

Adjusted free cash flow €161.4m (conversion 82.1%). Adjusted operating free cash flow €52.4m (impacted by working‑capital cut‑offs). Net financial debt €2,589m, stable vs end‑2025; leverage 2.7x. Tipico financing completed (multi‑tranche notes and term loans) to fund the acquisition.

M&A and strategic update

Tipico acquisition closed 23 April 2026 (combines Betclic, Tipico, Admiral — expected to double Sports betting & Gaming scale and deliver ~€100m mid‑term synergies). Combination of Banijay Entertainment and All3Media announced and expected to close in summer 2026 (subject to approvals). Group published a 2026–2029 strategic update targeting >7% Adjusted EBITDA CAGR (2025PF–2029), double‑digit adjusted EPS CAGR, >80% FCF conversion and deleveraging toward ~2x by 2029.

Other notable items

Management notes an exceptional LTIP-related charge partially recognized in Q1 (c.€25m of an expected ~€100m full‑year exceptional item). The increase in betting tax in France reduced reported EBITDA growth but guidance for 2026 is confirmed (mid‑single‑digit Adjusted EBITDA growth; mid‑to‑high single digits excluding the French betting tax effect).

Summarized from source with an LLMView Source

Key figures

-10.4%1Y

-7.34%3Y

%5Y

Performance

30.4%1Y

30.4%3Y

30.6%5Y

Volatility