ProSiebenSat.1 unites leading entertainment brands with an international production business and a rapidly growing commerce portfolio under one roof. It is therefore one of the most diversified media companies in Europe. Our objective is to offer entertainment – whenever, wherever and on any device. With our 15 free and pay TV stations, we are able to reach over 45 million TV households in Germany, Austria and Switzerland. At the same time, around 36 million unique users a month use the online offerings marketed by ProSiebenSat.1.

Our family includes formats such as “The Masked Singer,” “Germany’s next Topmodel” and “Joko & Klaas gegen ProSieben” and superstars such as Heidi Klum and Dwayne Johnson. Shows like “Bosch,” “Married at First Sight” and “Queen of Drags” are in-house productions of our production and distribution network Red Arrow Studios. In addition, ProSiebenSat.1 Group’s global digital studio Studio71 generated an average of 9.9 billion video views a month with its web channels in 2019 (previous year: 9.2 billion).

Our NuCom Group is a rapidly growing e-commerce player with leading portfolio companies in the areas of consumer advice, online dating, experiences, and beauty & lifestyle.

ProSiebenSat.1 Group has over 7,000 employees who devote tremendous passion to entertaining and inspiring our viewers and customers every single day.

ProSiebenSat.1 Group concluded the 2019 financial year largely as it expected: Despite challenges in the TV advertising business, the Group increased its revenues by 3% to EUR 4,135 million (previous year: EUR 4,009 million); the organic increase was 2%. The Group’s adjusted EBITDA declined as expected in the year as a whole, decreasing by 14% to EUR 872 million (previous year: EUR 1,013 million). This reflects the decision announced by the Group to continue investing in the future of the entertainment business and the growth of NuCom Group. Lower TV core advertising revenue also had an impact on adjusted EBITDA. Adjusted net income is essentially a result of the changes in adjusted EBITDA and the investment in Joyn and, as expected, fell by 28% or EUR 154 million to EUR 387 million (previous year: EUR 541 million).

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Key figures of ProSiebenSat.1 Group in EUR m

 

2019

2018

Revenues

4,135

4,009

Revenue margin before income taxes (in %)

13.8

8.6

Total costs

3,592

3,710

Operating costs1

3,297

3,027

Consumption of programming assets

958

1,319

Adjusted EBITDA2

872

1,013

Adjusted EBITDA margin (in %)

21.1

25.3

EBITDA

838

570

Reconciling items3

–34

–443

Operating result (EBIT)

578

348

Adjusted EBIT

684

850

Financial result

–6

–4

Result before income taxes

572

344

Adjusted net income4

387

541

Net income

412

250

Net income attributable to shareholders of ProSiebenSat.1 Media SE

413

248

Net income attributable to non-controlling interests

–1

1

Adjusted earnings per share (in EUR)

1.71

2.36

Payments for the acquisition of programming assets

1,072

1,070

Free cash flow

207

–78

Cash flow from investing activities

–294

–468

Free cash flow before M&A

339

244

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12/31/2019

12/31/2018

1

Total costs excl. expense adjustments, depreciation, amortization and impairments.

2

EBITDA before reconciling items.

3

Expense adjustments less income adjustments.

4

Net income attributable to shareholders of ProSiebenSat.1 Media SE before the amortization and impairments from purchase price allocations, adjusted for the reconciling items. These include valuation effects recognized in other financial result, valuation effects of put-options and earn-out liabilities, as well as valuation effects from interest rate hedging transactions. Moreover, the tax effects resulting from such adjustments are also adjusted. See Annual Report 2018.

5

Full-time equivalent positions as of reporting date.

6

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

Employees5

7,253

6,583

Programming assets

1,204

1,113

Equity

1,288

1,070

Equity ratio (in %)

19.5

16.5

Cash and cash equivalents

950

1,031

Financial debt

3,195

3,194

Leverage ratio6

2.6

2.1

Net financial debt

2,245

2,163
Segments of ProSiebenSat.1 Group

ProSiebenSat.1 Group renamed its segments in the first quarter of 2020. Its reporting segments are now SevenOne Entertainment Group (formerly Entertainment), Red Arrow Studios (formerly Content Production & Global Sales) and NuCom Group (formerly Commerce).

Business Performance in the First Quarter of 2020

Until the restrictions on public and economic life in response to COVID-19 began to make an impact from mid-March, the first quarter of 2020 was going well for ProSiebenSat.1 Group. Overall, the Group closed the quarter with a slight revenue increase of 1% to EUR 926 million (previous year: EUR 913 million). There was a minor 1% fall in organic revenues. The non-TV advertising business accounted for 52% of Group revenues in the first quarter of the year (previous year: 48%); the digital share of consolidated revenues was 35% (previous year: 30%).

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