ProSiebenSat.1 at a Glance

ProSiebenSat.1 Group is one of the most successful independent media companies in Europe with a strong lead in TV and digital market. The Group grows dynamically with revenues increasing by 17 % to EUR 3,799 million in 2016. At the same time, recurring EBITDA rose by 10 % to EUR 1,018 million. The Company employs 6,054 people in average. The most important revenue market is Germany. Here, the ProSiebenSat.1 share has been included into the German equity index DAX since March 2016.

Advertising-financed free TV is the Group’s core business. The station family comprising SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. The Group has tapped into an additional attractive business area through the distribution of its television channels in HD quality. At the same time, the Group successfully networks the wide reach of its TV business with a strong digital unit. Already today, ProSiebenSat.1 is Germany’s leading video marketer on the Internet and with maxdome or Studio71 one of the most successful providers of digital entertainment. However, the Internet is not only changing the entertainment industry, digital media also influence consumer behavior. This is why, ProSiebenSat.1 has built up a successful e-commerce business of digital platforms in recent years that is now one of the Group’s most important growth drivers. This broadcasting, digital entertainment and ventures & commerce portfolio is supplemented by the international program production and distribution company Red Arrow. Thus, ProSiebenSat.1 has a broadly diversified revenue and earnings base. By 2018, ProSiebenSat.1 intends to increase its revenues by EUR 2.15 billion up to around EUR 4.5 billion, compared to 2012.

Forecasts 2016

  

Actual figures 2016

  

Forecasts 2017

All information relates to continuing operations and the new segment structure since the third quarter of 2016.

1

From 01/01/2017 renaming in adjusted EBITDA and adjusted net income respectively.

2

Adjusted for LTM recurring EBITDA from the Eastern European business.

3

Relevant target group of 14- to 49-year-olds.


Significant increase

  

+17 %

  

Revenues
EUR 3,799 million

  


High single-digit increase


Slight increase

  

+3 %

  

Broadcasting German-speaking
EUR 2,210 million

  


Slight increase


Significant increase

  

+19 %

  

Digital Entertainment
EUR 442 million

  


Significant increase


Significant increase

  

+65 %

  

Digital Ventures & Commerce
EUR 768 million

  


Significant increase


Significant increase

  

+38 %

  

Content Production & Global Sales
EUR 362 million

  


Mid single-digit increase


Mid to high single-digit increase

  

+10 %

  

Recurring EBITDA1
EUR 1,018 million

  


Mid single-digit increase


Slight increase

  

+3 %

  

Broadcasting German-speaking
EUR 760 million

  


Slight increase


Significant increase

  

–1 %

  

Digital Entertainment
EUR 37 million

  


Significant increase


Significant increase

  

+33 %

  

Digital Ventures & Commerce
EUR 180 million

  


Significant increase


Significant increase

  

+87 %

  

Content Production & Global Sales
EUR 47 million

  


Stable to slight increase


Mid to high single-digit increase

  

+10 %

  

Underlying net income1
EUR 513 million

  


Mid to high single-digit increase

1.5 – 2.5

  

1.9

  

Leverage ratio2

  

1.5 – 2.5


Consolidate leading market position at a high level

  

28.0 %

  

German TV audience market3
Decrease by
1.5 percentage points

  


Consolidate leading market position at a high level

(XLS:) Download

Key figures of ProSiebenSat.1 Group – Part 1

 

  

 

  

 

EUR m

  

2016

  

2015

Revenues

  

3,799

  

3,261

Revenue margin before income taxes (in percent)

  

17.3

  

18.5

Total costs

  

3,056

  

2,555

Operating costs1

  

2,804

  

2,355

Consumption of programming assets

  

915

  

896

Recurring EBITDA2

  

1,018

  

926

Recurring EBITDA margin (in percent)

  

26.8

  

28.4

EBITDA

  

982

  

881

Reconciling items (net)3

  

–35

  

–44

EBIT

  

777

  

730

Financial result

  

–119

  

–126

Profit before income taxes

  

658

  

604

Consolidated net profit (after non-controlling interests)4

  

402

  

391

Profit from discontinued operations (net of income taxes)

  

–42

  

0

Underlying net income5

  

513

  

466

Basic earnings per share (underlying)6

  

2.379

  

2.18

Investments in programming assets

  

992

  

944

Free cash flow

  

–4

  

–1

Cash flow from investing activities

  

–1,623

  

–1,522

(XLS:) Download

Key figures of ProSiebenSat.1 Group – Part 2

 

  

 

  

 

EUR m

  

12/31/2016

  

12/31/2015

1

Total costs excl. D&A and expense adjustments.

2

EBITDA before reconciling items (net).

3

Expense adjustments netted against income adjustments.

4

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

5

Consolidated profit for the period attributable to shareholders of ProSiebenSat.1 Media SE before the effects of purchase price allocations and additional reconciling items.

6

Due to the merger of share classes in 2013, from this year on basic earnings per share (underlying) are shown. Prior year figures were not determined.

7

Ratio net financial debt to recurring EBITDA in the last twelve months.

8

Average full-time equivalents from continuing operations.

9

Calculated on the basis of the volume-weighted average number of shares in 2016 of 216.8 million; taking into account the dividend-entitled shares as of the balance sheet date, adjusted economic earnings per share amounts to EUR 2.24.

Explanation of reporting principles: The figures for the financial year 2016 relate to those for continuing operations reported in accordance with IFRS 5, i.e. not including the revenue and earnings contributions of the entities sold. The following entities were deconsolidated in the in the past: Hungary (February) and Romania (April and August respectively) in the financial year 2014; the Northern European operations (April) in the financial year 2013; Belgium (June) and Netherlands (July) in the financial year 2011. The income statement items of the relevant entities are presented separately as a single figure, result from discontinued operations. This figure also contains the respective gain on disposal and is presented after tax.
The previous years‘ figures in the statement of financial position were not adjusted.

Programming assets

  

1,312

  

1,252

Equity

  

1,432

  

943

Equity ratio (in percent)

  

21.7

  

17.8

Cash and cash equivalents

  

1,271

  

734

Financial liabilities

  

3,185

  

2,675

Leverage7

  

1.9

  

2.1

Net financial debt

  

1,913

  

1,940

Employees8

  

6,054

  

4,880
Revenues and Recurring EBITDA (bar charts)Revenues and Recurring EBITDA (bar charts)

Group revenue share by segment

Group revenue share by segment (pie chart)Group revenue share by segment (pie chart)