Impresa narrows loss as SIC swings to €2.3M profit; debt falls 18.6% in first half of 2026

SIC returns to profit

The television unit SIC posted a net profit of €2.3 million in the first six months of 2026, reversing a loss of €1.1 million in the same period last year. Consolidated revenues at SIC rose 3.6% to €76.4 million, an increase of €2.6 million. The company attributed the revenue growth to strong advertising sales boosted by the FIFA World Cup, higher channel distribution and content sales, and its role as the official broadcaster of the 11th edition of Rock in Rio Lisboa. Operating costs fell 1.4%, reflecting efficiency measures under the Impresa 2028 project. SIC's recurring EBITDA jumped 68.7% to €6.2 million.

Group revenue and debt improvement

At the consolidated level, Impresa's revenues grew 2.5% to €88 million. The television segment drove the top line, while press revenues declined 5.6% to €10.3 million. The group's net loss narrowed by 32.4% to €3.4 million, compared with a loss of €5.1 million in the first half of 2025. Excluding non-recurring items (restructuring costs of €1.1 million and capital increase costs of €1.5 million linked to the entry of MediaForEurope), the net result would have been a loss of €0.9 million. Recurring EBITDA rose 51.6% to €6.6 million. Total debt fell 18.6% to €129.6 million, and financial costs decreased 20.2% to €4.8 million.

Strategic milestones

Francisco Pedro Balsemão, CEO and chairman of Impresa, said the first half was defined by two mutually reinforcing developments: the continued execution of the strategic plan and the entry of MediaForEurope (MFE) into the shareholder structure.

The first half of 2026 was marked by two mutually reinforcing axes: the continuity in executing our strategic plan and the entry of MediaForEurope (MFE) into the group's shareholder structure.

He added that the numbers "attest to the solidity of our operational evolution and the effectiveness of the measures taken under the Impresa 2028 project."

Audience leadership

SIC remained the most-watched channel in Portugal during the first half of 2026, leading in morning, afternoon, and prime time slots and reaching approximately 3.6 million viewers daily. Telenovelas "Vitória" and "Páginas da Vida" were the top-rated fiction programs, while news programs "Primeiro Jornal" and "Jornal da Noite" led in information.

Outlook for the second half

Looking ahead, Balsemão said the group will continue cost-base optimization, process simplification, and profitability reinforcement without sacrificing investment in strategic growth areas. The financial priority remains strengthening cash generation, capital allocation discipline, and optimizing the financing structure. SIC's bonds (2024–2028) traded on Euronext Lisbon at prices between 100% and 103% during the period.