Broadcaster RTL raises 2026 revenue target to include Sky Deutschland

By Cian Muenster, Basile Day and Klaus Lauer

Aug 11 (Reuters) - European broadcaster RTL raised its full-year revenue forecast on Tuesday, accounting for the June acquisition of Sky Deutschland which has increased its revenue base.

The TV and streaming group said it expects 2026 revenue of €7.1 billion to €7.2 billion ($8.2 billion to $8.3 billion), up from its March forecast of €6.1 billion to €6.2 billion. It maintained the guidance for adjusted earnings before interest, taxes and amortization of around €725 million. 

RTL's first-half revenue rose nearly 4% on a reported basis to €2.9 billion, though it was flat organically. Adjusted EBITA grew nearly 50% from a year ago to €239 million in the January-June period.

Sky Deutschland, consolidated into the group from June, contributed adjusted EBITA of €61 million. However, this figure was inflated by the absence of Bundesliga production and licensing costs, RTL said, forecasting the business to be broadly break-even this year.

Group CEO Clément Schwebig said a break-even performance this year would already mark an achievement for Sky Deutschland, given its history of standalone losses.

RTL expects to realise annual savings of €250 million from the Sky Deutschland acquisition within three years.

"These synergies will ramp up over time. Most of them will be realized in 2027 and 2028. We have identified that ... around 75% of it would be cost related," Schwebig said during a media call. The group will reduce overlapping structures, among other things, he added.

In April, sources familiar with the matter said the Sky Deutschland integration was likely to affect a three-digit number of jobs in the group.

RTL Group's shares grew 0.9% as of 0847 GMT.

($1 = 0.8658 euros)

(Reporting by Cian Muenster, Basile Day and Klaus Lauer; editing by Bartosz Dabrowski and Milla Nissi-Prussak)