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ProSiebenSat.1 Group

ProSiebenSat.1 Group is one of the most successful independent media companies in Europe with a strong lead in the TV and the digital market. The Group grows dynamically with revenues increasing by 17 % to EUR 3,799 million in 2016. At the same time, recurring EBITDA rose by 10 % to EUR 1,018 million. The Company employs 6,054 people in average. The most important revenue market is Germany. Here, the ProSiebenSat.1 share has been included into the German equity index DAX since March 2016.

Advertising-financed free TV is the Group’s core business. The station family comprising SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. The Group has tapped into an additional attractive business area through the distribution of its television channels in HD quality. At the same time, the Group successfully networks the wide reach of its TV business with a strong digital unit. Already today, ProSiebenSat.1 is Germany’s leading video marketer on the Internet and with maxdome or Studio71 one of the most successful providers of digital entertainment. However, the Internet is not only changing the entertainment industry, digital media also influence consumer behavior. This is why, ProSiebenSat.1 has built up a successful e-commerce business of digital platforms in recent years that is now one of the Group’s most important growth drivers. This broadcasting, digital entertainment and ventures & commerce portfolio is supplemented by the international program production and distribution company Red Arrow. Thus, ProSiebenSat.1 has a broadly diversified revenue and earnings base. By 2018, ProSiebenSat.1 intends to increase its revenues by EUR 2.15 billion up to around EUR 4.5 billion, compared to 2012.

The headquarters of ProSiebenSat.1 are in Unterföhring near Munich. The Company was founded in October 2000 and employed more than 6,000 people in 2016. The ProSiebenSat.1 share can be traded on both the Frankfurt and Luxembourg stock exchanges.

Revenues and recurring EBITDA

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

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

Vision and Strategy

Television is the basis of our success. We use the millions-strong reach of our TV stations to advance into digital business areas. In this way, we have consistently diversified our Company in recent years and created additional sources of revenue. Today, our growth is based on four segments: German-speaking TV business, our digital units with a large entertainment and e-commerce portfolio, and our international program production and sales subsidiary. We have been so successful with this strategy that we raised our medium-term growth targets once again in October 2016.

We now intend to increase our revenues by EUR 2.15 billion compared to 2012 to around EUR 4.5 billion by 2018. Originally, an increase of EUR 1 billion to nearly EUR 3.4 billion by 2018 had been planned. The digital business as a whole is developing particularly dynamically. It is expected to contribute revenues of EUR 1.735 billion in 2018. In total, we then plan to generate over 50 % of our revenues outside the traditional TV advertising business. This also reflects our vision: We are establishing ProSiebenSat.1 Group as a leading broadcasting, digital entertainment, and commerce powerhouse.

We are consistently diversifying our value chain and digitalizing our portfolio. Our high reach is a crucial competitive advantage in two respects: Even in the digital world, no other medium reaches an audience of millions as quickly as TV. Not only our advertising customers benefit from this; we also use the impact of television to promote our own offerings.

Company Segments

TV activities in Germany, Austria and Switzerland are allocated to the Broadcasting German-speaking segment. With a population of over 80 million, Germany is Europe’s largest television market and we are a market leader here. Our success is based on a multi-station strategy: The individual stations serve different core target groups and thus complement each other. While SAT.1 offers TV programs for the whole family, ProSieben is primarily aimed at young viewers aged between 14 and 39. The core target group of kabel eins includes viewers aged between 14 and 49. Sixx focuses on young women between the ages of 14 and 39. SAT.1 Gold is also aimed mainly at women between 40 and 64 and therefore a particularly attractive target group for the advertising industry. ProSieben MAXX complements the TV family with its programming that is mainly focused on male viewers aged between 14 and 39. The new free TV station kabel eins Doku, which focuses on documentaries and reports, started broadcasting in September 2016. kabel eins Doku is aimed at men aged between 40 and 64.

A second and increasingly important source of revenues in the TV segment is distribution. For example, ProSiebenSat.1 has for many years taken a share in the technical activation fees that cable network, satellite and IPTV operators generate from the distribution of ProSiebenSat.1 HD stations. With SAT.1 emotions, ProSieben FUN and kabel eins CLASSICS, the Group also operates three basic pay TV channels. ProSiebenSat.1 Group has thus established a business area with long-term recurring revenues. ProSiebenSat.1 Group is growing highly profitably in its core business with a recurring EBITDA margin of around 30 %.

ProSiebenSat.1 pursues a digital entertainment strategy and covers modern forms of media use in this way. The Group bundles its online video business activities in the Digital Entertainment segment. This includes, among others, the pay-video-on-demand portal maxdome, the multi-channel network (MCN) Studio71 and the areas of ad-tech and data. We are also operating our own record label and are active in the areas of artist management and music and live entertainment.

By extending and integrating TV formats on digital platforms, the Group is strengthening viewer retention and creating new, cross-media advertising space at the same time. As a result, the Company offers its customers a high advertising reach with digital media as well. ProSiebenSat.1 reaches around 30 million unique users every month in the German market with advertising-financed online websites alone.

ProSiebenSat.1 is also the market leader in the sale of online video content in Germany. Digital development has moreover introduced new refinancing models for us. In addition to advertising revenues, ProSiebenSat.1 is generating subscription- and transaction-based revenues in the Digital Entertainment segment, for instance, with maxdome’s video-on-demand (VoD) offers. ProSiebenSat.1’s digital entertainment offers have a good position in their respective market segments. The number of maxdome’s subscribers grew to one million in 2016. With around 60 billion video views in 2016, Studio71 is one of the four largest MCNs in the world and is the number one in Germany.

Raising brand awareness quickly is a decisive competitive factor, especially for young companies in an early stage of development. We therefore use our wide reach to develop digital business areas or to acquire companies, for instance, in the commerce areas of travel, lifestyle, online dating and online comparison portals. The Group is advertising these brands on its TV stations and accelerating their growth thanks to free advertising time.

We tap into new market segments and finance growth in line with the “reach meets ideas” principle. Thereby, ProSiebenSat.1 increasingly made larger acquisitions in the last two years. In doing so, our commerce and ventures portfolio has now become our largest revenue growth driver and is making a significant contribution for the expansion of the digital business. In 2016, the segments external revenues increase by 65% and amounted 768 Mio Euro.

The Red Arrow Entertainment Group complements our value-adding processes. This company develops, produces and sells programs. Red Arrow is a global company, but it focuses on the US. In addition to high revenues, the USA is also strategically relevant for Red Arrow because TV content in English can be sold more easily around the world. The activities of the Red Arrow Entertainment Group are bundled in the Content Production & Global Sales segment.

Group revenue share 2016 by segment

Mile Stones

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.1Media 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 KirchMedia 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.