Banijay Group N.V.

BNJ

Equity

ISIN NL0015000X07 / Valor 119402751

Euronext - Euronext Amsterdam (2026-07-28)

EUR 8.60+1.18%

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% at constant currency); Adjusted EBITDA €196.6m (+5.4%); Adjusted net income €56.9m (+18.1%); Adjusted free cash flow €161.4m (+7.7%) with an 82.1% conversion; reported net income €32.0m (down 10.9%).

Segment performance

Sports betting & Gaming: revenue €433.1m (+17.3%) driven by +20% Unique Active Players; sportsbook €326.5m (+14.4%), casino/poker/turf €70.2m (+27.0%). Entertainment & Live: revenue €714.5m (+4.5%) with Live experiences doubling to €139.0m (+101.5%) while content production was down (restated) to €502.2m due to phasing.

Profitability and margin drivers

Group adjusted EBITDA margin was 17.1% (Q1 2025: 17.6%); adjusted EBITDA would have been higher (+50bp to ~18.1%) when restating the French betting tax increase (~€11m). Excluding that tax effect, gaming EBITDA growth improves materially.

Cash, leverage and balance sheet

Net financial debt €2,589m at 31 Mar 2026 (stable vs. 31 Dec 2025) and leverage 2.7x LTM adjusted EBITDA; cash position €423.6m. Adjusted free cash flow remained strong at €161.4m and conversion target (~80%) was reiterated.

M&A and strategic developments

Tipico acquisition financing completed and the deal closed on 23 Apr 2026; combination with Tipico (and Admiral) is expected to materially increase Sports betting & Gaming scale with c.€100m mid‑term synergies. Strategic partnership to combine Banijay Entertainment with All3Media is progressing and expected to close in summer 2026, subject to approvals.

Guidance and medium‑term outlook

2026 guidance confirmed: adjusted EBITDA growth expected mid‑single‑digit (mid‑to‑high single‑digit excluding French betting tax increase) and adjusted FCF conversion c.80%. Management also presented 2026–2029 targets including >7% CAGR adjusted EBITDA (2025PF–2029) and >80% FCF conversion over the period.

One‑offs, tax and compensation items

Q1 included increased restructuring/M&A fees and a partial recognition of an exceptional LTIP charge (c.€25m in Q1 toward ~€100m expected for 2026). Income tax expense fell significantly (−27.2%) due to implementation of an IP Box regime in gaming.

Operational highlights & content

Live business delivered landmark events (Milano‑Cortina Opening Ceremony; Luminiscence expansion; launch of The Black Mirror Experience). Content distribution was strong (+20%) while production deliveries are skewed later in the year; digital initiatives and format acquisitions (e.g., Stop The Train) were highlighted.

Summarized from source with an LLMView Source

Key figures

-1.15%1Y

-6.52%3Y

%5Y

Performance

28.2%1Y

30.0%3Y

30.3%5Y

Volatility