France's Banijay H1 revenue rises on sports betting, gaming growth

Banijay NV

29/07/2026 06:40

Overview
France entertainment and gaming group's H1 revenue rose 16.9% yr/yr to €2.58 bln
Adjusted EBITDA up 18.5% yr/yr, stable on pro forma basis due to higher betting taxes
Company completed All3Media deal and announced exceptional €0.93/share dividend

Outlook
Banijay Group confirms FY2026 guidance with mid-single-digit adjusted EBITDA growth
Company expects adjusted free cash flow conversion of about 80% of adjusted EBITDA for 2026
Entertainment & Live content production revenue expected to normalise by year-end, with stronger Q4 contribution

Result Drivers
SPORTS BETTING & GAMING GROWTH - Double-digit revenue growth driven by record player engagement, especially during the FIFA World Cup and UEFA Champions League
LIVE EXPERIENCES STRENGTH - Strong growth in live experiences revenue, supported by major sporting event productions and international expansion
REGULATORY IMPACT - Higher betting taxes in France and Austria weighed on adjusted EBITDA growth

Company press release: ID:nGNE8ZRzl1

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
EUR 2.58 bln
 
H1 Adjusted Net Income
 
EUR 141.50 mln
 
H1 Adjusted EBITDA
 
EUR 502.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the entertainment production peer group is "buy."
Wall Street's median 12-month price target for Banijay Group NV is €11.25, about 30.8% above its July 28 closing price of €8.60
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
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July 28 - Canal+ legacy Africa, StudioCanal growth offset Europe and MultiChoice pressures
July 28 - Caesars Entertainment Q2 revenue slightly beats estimates on regional growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)