ProSiebenSat.1 Group

ProSiebenSat.1 Group is one of the most successful independent media companies in Europe with a strong presence in the TV and digital markets. In 2015, the Group increased its revenues by 13.4 % to EUR 3.261 billion (first half of 2016: EUR 1.688 billion), while recurring EBITDA rose by 9.2 % to EUR 925.5 million (first half of 2016: EUR 424 million). By 2018, ProSiebenSat.1 intends to increase its revenues by EUR 1.85 billion up to around EUR 4.2 billion, compared to 2012.

Advertising-financed free TV is the Group’s core business. The station family comprising SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, and ProSieben MAXX is the number one on the German audience and TV advertising market. The Group has tapped into an additional attractive business area via the distribution of its television channels in HD quality. At the same time, the Group successfully networks the wide reach of its TV business in the German-speaking region with its digital unit. In addition, ProSiebenSat.1 is already Germany’s leading video marketer on the internet. With the video-on-demand (VOD) portal maxdome, the Group is one of the most successful providers of digital entertainment. Studio71 is the largest multi-channel network in Germany and counts among the top 5 worldwide. In recent years, ProSiebenSat.1 has also built a successful e-commerce portfolio, which is one of the key growth drivers. Via its international production and distribution network Red Arrow Entertainment Group, the entity is represented by 19 companies in seven countries.

ProSiebenSat.1 Group is headquartered in Munich/Unterföhring and employs 5,849 employees in average as of June 30, 2016. The ProSiebenSat.1 Media SE share is listed at the Frankfurt and Luxembourg stock exchanges; in March 2016, the share was the first media stock to be included to the leading equity index, DAX.

Revenues by segment

Revenues by segment (Pie chart)Revenues by segment (Pie chart)

Revenues by region from continuing operations

Revenues by region from continuing operations (Pie chart)Revenues by region from continuing operations (Pie chart)

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Key figures

 

  

 

  

 

EUR m

  

2015

  

2014

1

Total costs excluding D&A and non-recurring expenses.

2

EBITDA before non-recurring (exceptional) items.

3

Non-recurring expenses netted against non-recurring income.

4

Consolidated net profit attributable to shareholders of ProSiebenSat.1 Media SE including discontinued operations.

5

Consolidated profit for the period attributable to shareholders before the effects of purchase price allocations and other special items.

6

Adjustment of underlying net income for financial year 2015 due to the retroactive adjustment of changes in the fair value of put options and earn-out liabilities in the second quarter of 2016. For further information, please refer to the half-yearly financial report 2016, page 5.

7

The comparative figures as of December 31, 2015 are restated due to the retrospective adjustment of the first-time consolidation of Studio71 LP. For further information, please refer to the Notes of the half-yearly financial report 2016, note 2 “Scope of consolidation,“ page 41.

8

Ratio of net financial debt to recurring EBITDA in the last twelve months, adjusted for the LTM recurring EBITDA contribution of the Eastern European operations.

9

Full-time equivalent positions as of reporting date from continuing operations.

Revenues

  

3,260.7

  

2,875.6

Revenue margin before income taxes (in %)

  

18.5

  

19.5

Total costs

  

2,555.4

  

2,209.0

Operating costs1

  

2,354.5

  

2,046.9

Consumption of programming assets

  

895.5

  

867.8

Recurring EBITDA2

  

925.5

  

847.3

Recurring EBITDA margin (in %)

  

28.4

  

29.5

EBITDA

  

881.1

  

818.4

Non-recurring items3

  

–44.4

  

–28.9

EBIT

  

729.9

  

694.5

Financial result

  

–126.4

  

–134.4

Profit before income taxes

  

603.6

  

560.1

Consolidated net profit (after non-controlling interests)4

  

390.9

  

346.3

Profit from discontinued operations (net of income taxes)

  

0.3

  

–27.1

Underlying net income5

  

464.26

  

418.9

Basic earnings per share (underlying)

  

2.19

  

1.96

Investments in programming assets

  

943.9

  

889.7

Free cash flow

  

–1.2

  

276.5

Cash flow from investing activities

  

–1,521.7

  

–1,148.4

 

EUR m

  

31.12.2015

  

31.12.2014

Programming assets

  

1,252.4

  

1,211.9

Equity

  

943.07

  

753.9

Equity ratio (in %)

  

17.87

  

19.3

Cash and cash equivalents

  

734.4

  

470.6

Financial liabilities

  

2,674.8

  

1,973.1

Leverage8

  

2.1

  

1.8

Net financial debt

  

1,940.4

  

1,502.5

Employees9

  

4,880

  

4,210