ProSiebenSat.1 Group is one of the most successful independent entertainment and commerce companies in Europe. Our entertainment business includes eleven free TV stations, four pay TV stations and the video-on-demand portal maxdome, which are offered on all relevant platforms. Red Arrow Studios is ProSiebenSat.1 Group’s international production and distribution business and is a renowned company in the field of developing, producing and distributing television and digital video formats. In NuCom Group, ProSiebenSat.1 bundles its commerce business with ten market-leading, mainly digital portfolio companies. The Commerce business is the Group’s biggest growth driver, making a significant contribution to the expansion of digital revenue sources. We are growing steadily and dynamically as we are consistently promoting the integration of our wide-reaching TV stations with digital offerings and creating additional sources of revenues due to new business ideas in all segments. Thus, ProSiebenSat.1 has a broadly diversified revenue and earnings base. [GRI 102-1, GRI 102-2, GRI 102-4, GRI 102-6]

2017 was another record year for ProSiebenSat.1 with revenues of EUR 4,078 million and adjusted EBITDA of EUR 1,050 million. The Group enlarged its portfolio and expanded it through strategic acquisitions, which had a considerable effect on the development of revenues and costs. ProSiebenSat.1 is focusing on investments that synergistically complement the portfolio and that are suitable for TV advertising.

New segment structure

The Group has been organized into the three segments Entertainment, Content Production & Global Sales and Commerce since January 2018. For the financial year 2017, the Group reports on the Company’s performance in the four segments Broadcasting German-speaking, Digital Entertainment, Digital Ventures & Commerce and Content Production & Global Sales.

ProSiebenSat.1 Group is headquartered in Unterföhring, near Munich. As of March 31, 2018, it had 6,357 employees (December 31, 2017: 6,483; December 31, 2016: 6,565). The ProSiebenSat.1 Media SE share is traded on the stock exchanges in Frankfurt and Luxembourg. The Company is listed in the MDAX. [GRI 102-3, GRI 102-5, GRI 102-7]

GROUP REVENUE SHARE BY SEGMENT in %, 2016 figures in parentheses [GRI 102-6]

REVENUES BY REGION in %, 2016 figures in parentheses [GRI 102-4]

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Revenues by region in EUR m [GRI 102-4]

 

  

2017

  

2016

Germany

  

3,241

  

2,970

Austria/Switzerland

  

297

  

267

USA

  

387

  

377

UK

  

30

  

28

Scandinavia

  

104

  

148

Others

  

19

  

9

Total revenues

  

4,078

  

3,799

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Key figures of ProSiebenSat.1 Group in EUR m [GRI 102-7]

 

  

2017

  

2016

Revenues

  

4,078

  

3,799

Revenue margin before income taxes (in %)

  

15.8

  

17.3

Total costs

  

3,590

  

3,056

Operating costs1

  

3,053

  

2,804

Consumption of programming assets

  

1,145

  

915

Adjusted EBITDA2

  

1,050

  

1,018

Adjusted EBITDA margin (in %)

  

25.8

  

26.8

EBITDA

  

1,084

  

982

Reconciling items (net)3

  

34

  

–35

Operating profit (EBIT)

  

820

  

777

Financial result

  

–174

  

–119

Profit before income taxes

  

646

  

658

Consolidated net profit (after non-controlling interests)4

  

471

  

402

Profit from discontinued operations (net of income taxes)

  

–/–

  

–42

Adjusted net income5

  

550

  

5369

Basic earnings per share (adjusted, in EUR)

  

2.408

  

2.479

Investments in programming assets

  

1,048

  

992

Free cash flow

  

728

  

–4

Cash flow from investing activities

  

–894

  

–1,623

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31.12.2017

  

31.12.2016

1

Total costs excl. D&A and expense adjustments.

2

EBITDA before reconciling items (net).

3

Expense adjustments less 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

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

7

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

8

Calculated on the basis of the volume weighted average number of shares for the financial year 2017 of 228.9 million; taking into account the shares carrying dividend rights at the reporting date, the economic underlying earnings per share amount to EUR 2.40.

9

Adjusted due to changes in reporting practices for non-IFRS figures from the beginning of financial year 2017. The Annual Report 2016 comprises more detailed information in section Explanatory Notes on Reporting Principles.

10

After reclassification of cash and cash equivalents of Tropo.

Programming assets

  

1,198

  

1,312

Equity

  

1,252

  

1,432

Equity ratio (in %)

  

19.1

  

21.7

Cash and cash equivalents

  

1,552

  

1,271

Financial liabilities

  

3,185

  

3,185

Leverage6

  

1.610

  

1.9

Net financial debt

  

1,63210

  

1,913

Employees7

  

6,483

  

6,565