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Segment Reporting

Revenue share by segment from continuing operations1

Broadcasting German-speaking Segment

In 2013, external revenues in the Broadcasting German-speaking segment grew by 3.7 % to EUR 1.998 billion after EUR 1.926 billion in the previous year. The Group again generated the highest revenue share with increased TV advertising revenues in Germany and Austria. In this context, the ProSiebenSat.1 Group could also further expand its market leadership in the German gross TV advertising market. The Group increased both its gross and net revenues above market level. At the same time, the positive development of new customers business had an impact on the segment’s growth: The advertising sales subsidiary SevenOne Media increased the number of new TV customers across all stations. Moreover, the ProSiebenSat.1 Group benefited from the increasing relevance of television as an advertising medium. In 2013, TV accounted for the largest share of gross advertising spending again.

In addition to higher revenues from the traditional TV advertising business, the persistently dynamic growth rate in the distribution business also contributed to the growth of segment revenues, particularly in Germany. This was primarily driven by growing technical reach and the corresponding increase in the number of HD subscribers. Cable, satellite and IPTV providers in Germany and Austria broadcast the ProSiebenSat.1 Group’s TV stations not only in standard definition (SD) but also in high definition (HD). The ProSiebenSat.1 Group receives a share in the technical activation fees which end customers pay to the providers. In addition to the HD stations, the distribution business also covers the distribution of ProSiebenSat.1’s basic pay TV stations.

The segment closed the 2013 financial year with recurring EBITDA of EUR 678.6 million after EUR 665.1 million in the previous year (+2.0 %) despite higher costs in relation to the expansion of the station portfolio. The recurring EBITDA margin was at 32.7 % (previous year: 33.3 %). EBITDA showed an increase of 6.0 % or EUR 36.7 million to EUR 649.9 million due to higher revenues and lower non-recurring effects compared to the previous year.

Key figures Broadcasting German-Speaking segment1

EUR m20132012
Segment revenues2,074.42,000.3
External revenues1,997.81,926.0
Internal revenues76.674.3
Recurring EBITDA678.6665.1
Recurring EBITDA margin2 (in percent)32.733.3

Digital & Adjacent Segment

In the Digital & Adjacent segment, the Group continued its course of growth in terms of revenues and earnings in the 2013 financial year. External revenues increased by 44.5 % or EUR 148.9 million to EUR 483.7 million, thus surpassing the previous year’s figure considerably. The high growth rate is attributable to the continuing expansion of existing and new business activities. The ProSiebenSat.1 Group’s Digital Commerce business made a significant contribution to the sustained positive development. Major contributions to revenues came primarily from the travel cluster with the online tour operating site Tropo and the majority holdings SilverTours ( and mydays, which were fully consolidated for the first time in 2013. In the Digital Entertainment unit, the online advertising revenues of ProSiebenSat.1 Digital’s online network, the video-on-demand portal maxdome, and the music business contributed to the increase in revenues with double-digit percent growth rates.

Despite costs rising due to expansion, the dynamic revenue growth led to an increase of operating earnings adjusted for non-recurring items (recurring EBITDA) by 24.2 % to EUR 105.4 million (previous year: EUR 84.9 million). The recurring EBITDA margin was 21.6 % (previous year: 25.3 %). EBITDA increased to EUR 100.9 million (previous year: EUR 76.6 million).

Key figures Digital & Adjacent segment1

EUR m20132012
Segment revenues487.2336.1
External revenues483.7334.8
Internal revenues3.51.3
Recurring EBITDA105.484.9
Recurring EBITDA margin 2 (in percent)21.625.3

Content Production & Global Sales Segment

The Content Production & Global Sales segment also contributed to the growth in the Group’s revenues and earnings in the 2013 financial year: The segment achieved a significant increase of its external revenues to EUR 123.8 million (previous year: EUR 95.4 million). The program production and sales subsidiary Red Arrow Entertainment Group has continuously invested in the expansion of its international portfolio since 2010 and made numerous acquisitions, particularly in the USA and Great Britain. In the past financial year, the consolidation of business activities and organic growth was the primary focus. The US production company Left/Right, in which a majority was acquired in 2012, made the strongest contribution to revenue growth.

The much higher revenues were also reflected in the segment’s positive earnings performance. Recurring EBITDA increased by EUR 6.3 million to EUR 10.6 million (previous year: EUR 4.3 million) in 2013. Accordingly, the recurring EBITDA margin was 6.3 % after 3.1 % in the previous year. EBITDA rose to EUR 11.5 million (previous year: EUR 1.5 million).

Key figures Content Production & Global Sales segment

EUR m20132012
Segment revenues167.5137.5
External revenues123.895.4
Internal revenues43.842.0
Recurring EBITDA10.64.3
Recurring EBITDA margin1 (in percent)6.33.1