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Segment Reporting

In the 2012 financial year, the ProSiebenSat.1 Group changed its segment reporting. For detailed information on the segment structure, refer to the chapters “Explanatory Notes on Reporting Principles” and “Changes in the Scope of Consolidation”.

REVENUE SHARE BY SEGMENT FROM CONTINUING OPERATIONS IN THE 2012 FINANCIAL YEAR

1 Previous year figure includes 9Live.

Broadcasting German-speaking Segment

In a competitive market environment the Broadcasting German-speaking segment’s external revenues amounted to EUR 1,910 billion, remaining at the previous year’s level (EUR 1,903 billion). Especially in the important fourth quarter the station group generated higher revenues from TV advertising, increasing TV advertising revenues over the year as a whole both in its core market of Germany and in Austria and Switzerland.

Distribution revenues are increasingly becoming an additional source of income for the ProSiebenSat.1 Group, and posted considerable growth in the reporting year. The dynamic growth rate is primarily attributable to the rising number of households receiving HD. In 2012, the ProSiebenSat.1 Group concluded further agreements on the distribution of its HD stations and is represented with its four HD stations in the packages of all major cable, satellite and IPTVIPTV Stands for Internet Protocol Television (IPTV). Films and television are transmitted over the internet — and in contrast to traditional broadcasting, not via cable or satellite. IPTV is neither a standard nor a design, and therefore only a generic term that may be encountered in various forms. operators. Since 2011, the German stations have been broadcast not only in standard definition but also in HD quality. ProSiebenSat.1 takes a share in the technical activation fees which end customers pay to the cable, satellite and IPTV providers.

The segment closed the 2012 financial year in line with the revenue performance with a recurring EBITDA of EUR 660.3 million after EUR 657.7 million in the previous year. At 33.2%, the recurring EBITDA margin is slightly above the previous year’s level (32.9%). EBITDAEBITDA Abbreviation for Earnings before Interest, Taxes, Depreciation and Amortization. decreased by 2.5% or EUR 15.3 million to EUR 609.1 million due to non-recurring effects. The non-recurring costs largely comprise expenses in the course of the antitrust proceedings concluded in the fourth quarter of EUR 27.7 million.

 

KEY FIGURES BROADCASTING GERMAN-SPEAKING SEGMENT1

EUR m 2012 2011
1Reporting for the 2012 financial year is based on a different segment structure. To ensure comparability of the current annual figures with those of the previous year, the figures for the previous year were adjusted to the existing segment structure. There is no multi-year comparison. 2Based on segment total revenues; see Notes, No. 35.
External revenues 1,909.5 1,903.0
Recurring EBITDA 660.3 657.7
Recurring EBITDA margin2 (in percent) 33.2 32.9

Digital & Adjacent Segment

The Digital & Adjacent segment posted high growth rates for both revenues and earnings in the past financial year. External revenues amounted to EUR 351.2 million, thus surpassing the previous year’s figure by 38.1% or EUR 96.9 million. The most important growth driver was the Ventures unit with the media-for-revenue-share business model. At the same time, revenues from the music business and the video-on-demandVideo-on-demand Allows the user to stream or download videos at any time. platform maxdome developed very positively. The Games unit, which benefited from the successful licensing of new online games, also contributed to revenue growth with a double-digit growth rate. In addition to organic growth, the search engine marketing agency Booming and the online travel portal Tropo were fully consolidated for the first time, which led to growth in revenues year-on-year.

The segment’s previous-year figures partially include revenue contributions from the call TV station 9Live, which was discontinued on August 9, 2011. Adjusted for the contribution of 9Live in the previous year, revenues in the Digital & Adjacent segment would have shown a growth rate of 47.7% or EUR 113.5 million in 2012.

The dynamic increase in revenues led to a considerable increase by 34.1% in recurring EBITDA to EUR 89.7 million (previous year: EUR 66.9 million). The recurring EBITDA margin was 25.4% (previous year: 26.2%). EBITDAEBITDA Abbreviation for Earnings before Interest, Taxes, Depreciation and Amortization. climbed to EUR 80.8 million (previous year: EUR 39.4 million). The previous year’s EBITDA includes comparatively high non-recurring expenses of EUR 27.4 million, which primarily resulted from the discontinuation of the transmission of 9Live.

 

KEY FIGURES DIGITAL & ADJACENT SEGMENT1

EUR m 2012 2011
1Reporting for the 2012 financial year is based on a different segment structure. To ensure comparability of the current annual figures with those of the previous year, the figures for the previous year were adjusted to the existing segment structure. There is no multi-year comparison; previous-year figures include 9Live. 2Based on segment total revenues; see Notes, No. 35.
External revenues 351.2 254.4
Recurring EBITDA 89.7 66.9
Recurring EBITDA margin2 (in percent) 25.4 26.2

Content Production & Global Sales Segment

The external revenues of the Content Production & Global Sales segment posted a three-digit growth rate in the 2012 financial year. The revenue increase to EUR 95.4 million (previous year: EUR 37.7 million) primarily resulted from acquisitions to expand Red Arrow’s international portfolio. In 2012, the Red Arrow Entertainment Group strengthened its presence in the important markets of Great Britain and the USA in particular.

The earnings performance was mainly determined by start-up costs resulting from the portfolio expansion. Recurring EBITDA decreased by EUR 5.3 million to EUR 4.3 million (previous year: EUR 9.6 million). The recurring EBITDA margin was 3.1% after 8.8% in the previous year. EBITDA fell to EUR 1.5 million (previous year: EUR 8.5 million).

 

KEY FIGURES CONTENT PRODUCTION & GLOBAL SALES SEGMENT1

EUR m 2012 2011
1Reporting for the 2012 financial year is based on a different segment structure. To ensure comparability of the current annual figures with those of the previous year, the figures for the previous year were adjusted to the existing segment structure. There is no multi-year comparison. 2Based on segment total revenues; see Notes, No. 35.
External revenues 95.4 37.7
Recurring EBITDA 4.3 9.6
Recurring EBITDA margin2 (in percent) 3.1 8.8