ProSiebenSat.1 Group

ProSiebenSat.1 Group concluded the 2019 financial year largely in line with its expectations: Despite the challenging development 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%.

As expected, the Group’s adjusted EBITDA decreased in the full-year and was down by 14% to EUR 872 million (previous year: EUR 1,013 million). This reflects the Group’s decision to continue investing in the future of the Entertainment business and NuCom Group’s growth as announced. Furthermore, lower TV core advertising revenues had an impact on adjusted EBITDA. Adjusted net income essentially reflects the development in adjusted EBITDA as well as investments in Joyn and, as expected, declined by 28% or EUR 154 million to EUR 387 million (previous year: EUR 541 million). EBITDA of the Group however rose by 47% to EUR 838 million (previous year: EUR 570 million), with net income growing by 65% to EUR 412 million (previous year: EUR 250 million). This was mainly due to lower reconciling items than in the previous year. Also, free cash flow before M&A improved by 39% to EUR 339 million (previous year: EUR 244 million).

ProSiebenSat.1 Group has set itself the target of further diversifying its revenues. The digital and smart advertising business’ share in Entertainment revenues is to reach 25% in the mid-term (2019: 9%), and the digital business’ share in Group revenues (before portfolio changes) is to increase to over 50% (2019: 34%).

 

Revenues and adjusted EBITDA 2019 by quarter in EUR m, 2018 figures in parentheses

Share

Basic Data

Name

ProSiebenSat.1 Media SE

Share capital

EUR 233,000,000

Type of stock

Common shares

Stock Exchanges

Frankfurt Stock Exchange (Frankfurter Wertpapierbörse);
Luxembourg Stock Exchange (Bourse de Luxembourg)

Trading segment

FSE: Regulated Market / Prime Standard;
LSE: Regulated Market

Sector

Media

ISIN

DE000PSM7770

WKN

PSM777

Common Code

095725104

SEDOL

BCZM1B2

Xetra symbol

PSM

Reuters

PSMGn.DE

Bloomberg

PSM GY

Paying agent

Deutsche Bank AG, Taunusanlage 12, 60325 Frankfurt am Main

Share price performance of ProSiebenSat.1
Shareholder Structure of ProSiebenSat.1 Media SE

Vision and Strategy

ProSiebenSat.1 has since long ceased to be a pure TV company, but is consistently digitizing and diversifying its business. We are using the million-strong reach of our TV stations for our digital business. In this way, we have continuously diversified our Company in recent years and created additional sources of revenue.

Today our growth is based on three segments: A wide-reaching entertainment portfolio with leading TV and digital brands, our international program production and distribution subsidiary, and a large commerce portfolio.

These are our strategic priorities: We focus on local content, expand our digital reach, improve the monetization of our reach through intelligent advertising products, and use the synergies with the commerce business for the success of ProSiebenSat.1.

Our three segments are the foundation of our strategy. SevenOne Entertainment Group is the core of our Company. At the same time, we are intensifying the exchange with Red Arrow Studios and NuCom Group.

 

Company Segments

SevenOne Entertainment Group unites TV brands as well as the content, digital and marketing business under one roof, thus offering viewers cross-media content across all platforms. In addition to strong channel brands, the entertainment company has strongly expanded its digital business, e.g. with the successful streaming platform Joyn. The company focusses on its own local programs and the expansion of infotainment formats. By connecting TV reach with digital platforms, the Group creates attractive advertising products and is a global innovation leader in the growth area of Addressable TV.

Red Arrow Studios comprises the international program production and distribution business of ProSiebenSat.1, which includes a group of 20 international TV production companies in seven countries, the global film and TV distribution companies Red Arrow Studios International and Gravitas Ventures, and the digital studio Studio71. With Redseven Entertainment, Red Arrow is focusing on the German production business, thus consistently increasing the local grid share on the entertainment channels of ProSiebenSat.1. At the same time, Red Arrow is also continuing its international expansion with a focus on the core markets of the USA and UK. Red Arrow Studios' extensive programming portfolio includes entertainment, reality and factual formats as well as TV series, TV movies and digital content.

In recent years, ProSiebenSat.1 has built up a successful commerce portfolio. Together with our long-term partner General Atlantic, we act as growth investors: With our own marketing strength, advertising time and our know-how of how to present brands on all platforms, we make the NuCom companies big and successful. The portfolio comprises the four areas of consumer advice, matchmaking, experiences and beauty & lifestyle. NuCom Group makes a significant contribution to the expansion of digital revenue sources, profits from synergies with the entertainment business and strengthens ProSiebenSat.1's independence from the TV advertising market.

Mile Stones

June 2019

On June 18, the largest free TV offering in Germany Joyn, a Joint Venture between ProSiebenSat.1 and Discovery, launched: With Joyn, viewers can watch live streams of 55 channels for free on a single platform. As the app launches, all channels from ProSiebenSat.1, Discovery, Viacom, WELT, Sport1, channels of the public broadcasters ARD and ZDF plus other partners are included. Joyn also offers a vast on-demand library of original series, shows and exclusive previews for best entertainment anytime, anywhere. In addition, more than 40 TV formats are already available on Joyn as previews. For all viewers that have missed a TV show or want to watch it again, Joyn provides many shows in its media library for 30 days after. New features and content will be incorporated on the platform before the winter season. That includes content from maxdome and the Eurosport Player.

June 2018

ProSiebenSat.1 and Discovery announce plans to build the leading local streaming platform in Germany by integrating 7TV, maxdome and Eurosport player in one place. This will be a pioneering OTT platform in Germany offering the full entertainment package of live streams, an extensive media library with great local content and the best from Hollywood as well as high-quality sports content.

February 2018

ProSiebenSat.1 Group, one of the largest independent media companies in Europe, is entering a long-term partnership with General Atlantic, a leading global growth equity firm, to help drive the strategic development of its Commerce business.

November 2016

The Group generates issue proceeds of EUR 515 million (gross) from the placement of new shares. The capital increase enlarges the financial headroom for investments and further growth from acquisitions. We also want our shareholders to participate appropriately in this in the future.

March 2016

As first media company, ProSiebenSat.1 Media SE has been included in the leading index in Germany (the DAX) since March 21, 2016. Thus, the Group is one of the 30 largest listed corporations in Germany following market capitalization and trading volume.

July 2015

The conversion of the ProSiebenSat.1 Media AG into a European Company (Societas Europaea/SE) ​​was completed by registration in the commercial register on July 7 and has therefore formally taking effect.

January 2014

On January 21, 2014, Lavena Holding 1 GmbH, controlled jointly by KKR and Permira, sold its remaining 36.3 million common shares in ProSiebenSat.1 Media AG. Since then, ProSiebenSat.1 shares have almost entirely been held in free float: As of December 31, 2014, the percentage was 97.6 %. The other 2.4 % were held by the Group as treasury shares.

August 2013

The conversion of the previously exchange-traded non-voting bearer preference shares of ProSiebenSat.1 Media AG into voting registered common shares took effect on August 16, 2013 on entry of the corresponding amendments to the Articles of Association in the commercial register. Since August 19, all ProSiebenSat.1 shares have been tradable on the stock exchange.

October 2006

KKR and Permira become the ProSiebenSat.1 Group's new majority shareholders. Lavena Holding 4 GmbH, controlled by funds advised by KKR and Permira, signs a share purchase agreement with German Media Partners L.P. for the acquisition of the latter's majority interest in ProSiebenSat.1 Media AG. German Media Partners L.P. was a company of U.S. investor Haim Saban, who thus ended his involvement with the ProSiebenSat.1 Group.

August 2003

On August 11 ProSiebenSat.1 Media AG gets a new majority shareholder, Saban Capital Group, Inc., which acquires Kirch Media GmbH & Co. KGaA's voting majority in Germany's largest private television group.

October 2000

On October 13, 2000 the 97,243,200 shares of ProSiebenSat.1 AG preferred stock are released for trading on the Frankfurt Exchange.

June 2000

On June 28, 2000 ProSieben Media AG and Sat.1 announce their intent to merge and form Germany's largest television corporation. The executive board of ProSieben Media AG and the Supervisory Board of Sat.1 GmbH have agreed. The four stations Sat.1, ProSieben, Kabel 1 and N24, together with all their subsidiaries and affiliates, will come together under the umbrella of the new ProSiebenSat.1 Media AG, of Unterföhring. Kirch Media KGaA becomes new majority shareholder.

May 1998

Since May 23, 1998 ProSieben Media AG is the first media stock to be included in the MDAX.

July 1997

Since July 7, 1997 ProSieben, Germany's first television stock, is listed for official trading on the Frankfurt Stock Exchange. The new issue is oversubscribed by a factor of 50.

January 1984

January 1, 1984: German private television is born.