ProsiebenSat.1 at a Glance
ProSiebenSat.1 Group closed the year 2020 with a strong fourth quarter. Especially the 3% increase in entertainment advertising revenues, continued dynamic revenue development of the online beauty provider Flaconi and the positive effects of the acquisition of the US online dating company The Meet Group were the drivers in the fourth quarter. Also Red Arrow Studios achieved significant growth year-on-year. The Group’s adjusted EBITDA also grew by 12% to EUR 377 million (previous year: EUR 338 million) due to the positive development in the fourth quarter of 2020. The Group thus generated total revenues of EUR 4,047 million in full-year 2020 (previous year: EUR 4,135 million) and was therefore only 2% below the previous year despite the effects of the COVID-19 pandemic, which significantly impacted the Group’s business in the second quarter in particular. Adjusted EBITDA came to a value of EUR 706 million in 2020 (previous year: EUR 872 million).
ProSiebenSat.1 Group measures the mid-term financial success of the company on the basis of P7S1 ROCE (return on capital employed). The Group introduced this key financial indicator as a key figure for the entire Group in 2020. In financial year 2021, we target a P7S1 ROCE of more than 10% (previous year: 10%). For the Group as a whole, this key figure is expected to exceed 15% in the mid-term.
| EURm | 2020 |
2019 |
|---|---|---|
|
Revenues |
4,047 |
4,135 |
|
Revenue margin before income taxes (in %) |
9.1 |
13.8 |
|
Total costs1 |
3,664 |
3,592 |
|
Consumption of programming assets |
966 |
958 |
|
Adjusted EBITDA2 |
706 |
872 |
|
Adjusted EBITDA margin (in %) |
17.4 |
21.1 |
|
EBITDA |
801 |
838 |
|
Reconciling items3 |
95 |
-34 |
|
Operating result (EBIT) |
553 |
578 |
|
Adjusted EBIT |
514 |
684 |
|
Financial result |
-183 |
-6 |
|
Result before income taxes |
370 |
572 |
|
Adjusted net income4 |
221 |
387 |
|
Net Income |
252 |
412 |
|
Net income attributable to shareholders of ProSiebenSat.1 Media SE4 |
267 |
413 |
|
Net income attributable to non-controlling interests |
-15 |
-1 |
|
Adjusted earnings per share (in EUR) |
0.98 |
1.71 |
|
Payments for the acquisition of programming assets |
1,063 |
1,072 |
|
Free cash flow |
120 |
207 |
|
Cash flow from investing activities |
-1,391 |
-1,396 |
|
Free cash flow before M&A |
235 |
339 |
|
Audience share (in %)5 |
27.2 |
28.2 |
|
Total video viewtime (in billion minutes)6 |
1,084 |
1,076 |
|
Total daily TV consumption (AGF) (in minutes)7 |
211 |
202 |
1 Total costs comprise cost of sales, selling expenses, administrative expenses and other operating expenses.
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, valuation effects from interest rate hedging transactions as well as other material one-time items. Moreover, the tax effects resulting from such adjustments are also adjusted. Annual Report 2019, page 88.
5 ProSiebenSat.1 Group; AGF in cooperation with GfK; market standard: TV; VIDEOSCOPE 1.4; Target group: 14–49.
6 Total number of minutes viewed across linear and non-linear platforms: Linear free TV, TVC (TV Websites, mobile apps, SmartTV), 7TV, Studio71 Germany (TV content), JOYN (until 12/31/2019 estimate); HbbTV data currently not available due to introduction of new tracking system.
7 Total TV Market; Target group: 14–69.
| EURm | 12/31/2020 |
12/31/2019 |
|---|---|---|
|
HD subscribers (in m)1 |
10.6 |
10.0 |
|
Employees2 |
7,307 |
7,253 |
|
Programming assets |
1,213 |
1,204 |
|
Equity |
1,687 |
1,288 |
|
Equity ratio (in %) |
23.8 |
19.5 |
|
Cash and cash equivalents |
1,224 |
950 |
|
Financial debt |
3,192 |
3,195 |
|
Leverage ratio3 |
2.8 |
2.6 |
|
Net financial debt |
1,968 |
2,245 |
|
P7S1 ROCE (in %)4 |
10 |
16 |
1 HD FTA subscribers, Germany.
2 Full-time equivalent positions as of reporting date.
3 Ratio net financial debt to adjusted EBITDA in the last twelve months.
4 Ratio of earnings (ROCE) of the last twelve months to capital employed (average).
- Change+1.47 %
- Volume (shares)167,291
