ProsiebenSat.1 at a Glance

ProSiebenSat.1 Group grew dynamically in 2021: Group revenues increased by 11% year-on-year to EUR 4,494 million (previous year: EUR 4,047 million); organically1, Group revenues also grew with a clear plus of 10%. The biggest growth driver was the Entertainment segment, with significantly higher advertising revenues than expected at the beginning of the financial year. At the same time, the broad set-up and overarching cooperation within the Group, which ProSiebenSat.1 is driving in all segments, paid off. Part of this strategy was also the acquisition of the US online dating provider The Meet Group in September 2020, which has since strengthened the Dating & Video segment and had a very positive impact on Group revenues. ProSiebenSat.1 Group’s adjusted EBITDA increased significantly by 19% to EUR 840 million in the full-year (previous year: EUR 706 million), reflecting the strong growth in revenues and particularly the recovery of the advertising market. 

ProSiebenSat.1 Group measures the medium-term financial success of the company on the basis of P7S1 ROCE (return on capital employed). In the medium-term, the Group is targeting a figure of more than 15% here. Against the background of the improved operating performance and the consistent sustainable management of the Group, P7S1 ROCE improved significantly to 14.1% in the financial year 2021. In the previous year, the figure was still 10.5%.

Key Figures for the ProSiebenSat.1 Group
EURm

2021

2020

Revenues

4,494

4,047

Revenue margin before income taxes (in %)

13.5

9.1

Total costs1

3,970

3,664

Consumption of programming assets

995

966

Adjusted EBITDA2

840

706

Adjusted EBITDA margin (in %)

18.7

17.4

EBITDA

804

801

Reconciling items3

-36

95

Operating result (EBIT)

553

553

Adjusted EBIT

652

514

Financial result

54

-183

Result before income taxes

607

370

Adjusted net income4

362

221

Net income

442

252

Net income attributable to shareholders of ProSiebenSat.1 Media SE

449

267

Net income attributable to non-controlling interests

-7

-15

Adjusted earnings per share (in EUR)

1.60

0.98

Payments for the acquisition of programming assets

1,060

1,063

Free cash flow

289

120

Cash flow from investing activities

-1,249

-1,391

Adjusted operating free cash flow5

599

424

Audience share (in %)6

25.5

27.2

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. See Group Management Report, chapter "Planning and Management". 
5 For a definition of the adjusted operating free cash flow, please refer to chapter "Planning and Management" of the Group Management Report. 
6 ProSiebenSat.1 Group; AGF in cooperation with GfK; market standard: TV; VIDEOSCOPE 1.4; Target group: 14-49.

Key Figures for the ProSiebenSat.1 Group
EURm

12/31/2021

12/31/2020

HD subscribers (in m)1

11.1

10.6

Employees2

7,906

7,307

Programming assets

1,145

1,213

Equity

2,099

1,687

Equity ratio (in %)

31.9

23.8

Cash and cash equivalents

594

1,224

Financial debt

2,446

3,192

Leverage ratio3

2.2

2.8

Net financial debt

1,852

1,968

P7S1 ROCE (in %)4

14.1

10

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).