ProSiebenSat.1 Group

ProSiebenSat.1 Group closed the year 2020 with a strong fourth quarter: In this period, Group revenues increased by 11% to EUR 1,492 million (previous year: EUR 1,349 million). All segments contributed to this growth. 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 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. The Group therefore also confirms its preliminary full-year figures published on January 21, 2021. 

The Group’s adjusted EBITDA grew by 12% to EUR 377 million (previous year: EUR 338 million) due to the positive development in the fourth quarter of 2020. Accordingly, adjusted EBITDA for the full-year exceeded the Group’s most recent forecast: ProSiebenSat.1 ended 2020 with adjusted EBITDA of EUR 706 million and thus down 19% on the previous year (previous year: EUR 872 million). Net income also increased considerably in the fourth quarter of 2020, improving by 30% to EUR 213 million (Q4 previous year: EUR 164 million; full-year: EUR 252 million, FY previous year: EUR 412 million). Adjusted net income developed accordingly and increased by 14% to EUR 185 million in the fourth quarter of 2020 (previous year: EUR 162 million). In the full-year, adjusted net income amounted to EUR 221 million (previous year: EUR 387 million), with this development being mainly attributable to the strong COVID-19 impact in the second quarter.

Behind ProSiebenSat.1 are around 7,100 employees, who entertain and delight our audience and customers with great passion every day.

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

The ProSiebenSat.1 Group has long since ceased to be a pure media company but is consistently digitizing and diversifying its business. We use the million-strong reach of our TV stations to further develop our digital business areas: In particular, this means that we are using the strength of our entertainment business and high advertising reach to build and expand our dating and digital consumer platforms and actively develop our portfolio in a value-creating way. In this way, we are driving our diversification forward under our own steam. 

We are focusing on ensuring that each part of the Group contributes to increasing the value of ProSiebenSat.1 and that the businesses support one another. In this way, we use the synergies between our three segments for the long-term success of ProSiebenSat.1.

Company Segments

Our strategy is based on three strong segments: While the Dating business clearly supports us in our diversification, we are focusing on our core competencies in the Entertainment area. In Commerce & Ventures, we bundle our investment areas and use our media reach to build digital companies into leading consumer brands.

The Entertainment segment focuses with the Seven.One Entertainment Group on the core markets of Germany, Austria and Switzerland. By combining our station brands with the content, distribution and sales business, this platform-independent segment represents the complete entertainment business value chain.

We concentrate on producing relevant, local, live content and distributing it digitally, which is the key to even better monetization. When creating our own content, we benefit from significant synergies with the production houses Red Arrow Studios and Studio71, which are now also integrated into this segment. At the same time, the digital expansion of our TV content, for example via advertising-financed video-on-demand offers, plays an essential strategic role. This is because additional distribution channels allow our content to achieve a greater total reach, which in turn translates into more opportunities for monetization.

In this way, we are building a profitable entertainment business and laying the groundwork for diversification and growth in our other business areas.

By combining the Parship Group and the US-based The Meet Group, we have created a leading global player in the dating field forming the new ParshipMeet Group and our Dating segment. Its offerings range from online matchmaking services through dating to social entertainment. Operating in an attractive and fast-growing market environment, the ParshipMeet Group has diversified revenues spanning subscription models to advertising and addresses a broad target group across a large geographical area. In particular, The Meet Group’s USP, its video streaming expertise, strengthens our position in the dating business and opens up new growth potential.

This way, the segment is to substantially drive our diversification and significantly support the Group’s future growth. ProSiebenSat.1 will therefore retain the majority stake in the company following the ParshipMeet Group’s partial IPO, which is planned for 2022.

Our third segment, Commerce & Ventures, bundles ProSiebenSat.1 Group’s growth businesses, which we grow and promote using media power, and hence our entire investment options. At the beginning of our value chain in this context is the SevenVentures investment arm, which also includes the ProSiebenSat.1 Accelerator. Here, we support young companies by offering media-for-revenue or media-for-equity deals through our TV reach. In addition to the minority participations that are formed in this way, the segment also includes, for instance, our majority participations of NuCom Group. Here, we build up digital consumer brands from the fields of consumer advise, experiences and beauty & lifestyle into market leaders. This allows us to make use of all forms of participation for potential investments.

Once the initial growth steps completed, we review whether ProSiebenSat.1 is still the best owner of the respective company for the next development phase. If a business no longer has a strong link to TV advertising, we can sell these well-developed commerce brands to a more suitable owner and make the value created visible.

Mile Stones

October 2020

In October 2020, ProSiebenSat.1 subsidiary NuCom Group sold its entire stake of 92% in WindStar Medical to Oakley Capital. The financial investor also acquired the remaining 8% currently held by minority shareholders. WindStar Medical is one of the leading providers of healthcare products in Germany. The company develops and distributes high-quality medical products and over-the-counter pharmaceuticals for drugstores, supermarkets as well as pharmacies. Windstar Medical was part of ProSiebenSat.1 since 2016. In 2018, the company became part of NuCom Group. The enterprise value of WindStar Medical underlying the transaction was at EUR 280 million. Thus, in the last four years, ProSiebenSat.1 was able to increase the EV by 2.4x – especially thanks to the media reach provided. The sale of WindStar Medical is subject to the approval of relevant antitrust authorities. Closing of the transaction as well as the subsequent deconsolidation are expected for the fourth quarter of 2020.

September 2020

ProSiebenSat.1’s and General Atlantic’s Parship Group has successfully completed the acquisition of the US company The Meet Group, following regulatory approval from all required authorities. The combined company operates as ParshipMeet Group, a newly-minted unicorn and a leading global player in the online dating market. The Group offers a full suite of services, from social dating and entertainment to online matchmaking. By carving out Parship Group from NuCom Group, ProSiebenSat.1 forms a strong fourth pillar in a highly profitable and fast-growing segment. Thus, ProSiebenSat.1 creates various upside opportunities and synergies within the Group and secures a stronger presence in Europe and North America.

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 2019

Mediengruppe RTL Deutschland and ProSiebenSat.1 are entering into a groundbreaking partnership and are establishing the joint venture “d-force”. There Advertisers are able to target relevant audiences in the area of addressable TV and online video across the complete portfolio of ProSiebenSat.1 and Mediengruppe RTL Deutschland, directly and individually, with just a few clicks. The portfolio includes the digital offerings of both media houses as well as third parties. Each company will hold 50% in the joint venture. The technological basis of the new partnership is the demand-side platform Active Agent, which is part of the Virtual Minds, the ad stack of ProSiebenSat.1 Group.

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.