RTL Group stock trades at EUR 30.20 as streaming profit scales

RTL Group (ISIN LU0061462528) was trading at EUR 30.20 on Xetra on September 28, 2026, down 0.17 percent from the prior close. The market is weighing a streaming-led earnings improvement against the integration demands of Sky Deutschland.

Streaming lifts first-half earnings

RTL Group listed its H1 2026 interim results on August 11, 2026, with Sky Deutschland included for one month after the acquisition closed on June 1, 2026.

According to the Yahoo Finance transcript for the August 11, 2026 earnings call, first-half revenue grew 3.9 percent to EUR 2.9 billion. Adjusted EBITA increased from EUR 160 million in H1 2025 to EUR 239 million in H1 2026, lifting the adjusted margin from 5.8 percent to 8.3 percent.

Sky adds scale and execution risk

The acquisition is already changing the revenue base, but the contribution needs careful interpretation. The Yahoo Finance transcript says Sky Deutschland contributed EUR 61 million to adjusted EBITA in June, a month affected by favorable sports-rights timing.

RTL Group expects EUR 250 million in annual synergies from the combination within three years, according to the same August 11, 2026 earnings-call transcript. Management also confirmed a 2026 adjusted EBITA target of EUR 725 million and a medium-term target of EUR 1 billion, while streaming is expected to contribute EUR 100 million in 2026.

Analyst target stays above the quote

Deutsche Bank retained a Neutral rating and a EUR 35.00 price target on September 10, 2026, according to MarketScreener. That target is EUR 4.80 above the September 28, 2026 Xetra quote, putting the reference price 13.71 percent below the target.

RTL Group stock stays below EUR 31

RTL Group stock was trading at EUR 30.20 on Xetra on September 28, 2026, with a daily range of EUR 29.95 to EUR 30.50 and volume of 32,990 shares. Its 52-week range was EUR 28.80 to EUR 39.00, while market capitalization stood at EUR 4.7 billion.

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