Bertelsmann made a very promising start to the year in every respect. Alongside the encouraging operating performance across nearly all divisions, we achieved important strategic milestones. The antitrust approval for RTL Group’s acquisition of Sky Deutschland, as well as the planned combination of BMG and Concord, will sustainably strengthen Bertelsmann’s business portfolio in the years ahead.

We look back on a good first quarter of 2026. We confirm our outlook for the full year and continue to expect revenue and earnings growth. Taking into account the acquisition of Sky Deutschland, we expect revenues of more than €20 billion.