Company presentation September 2021 - ProSiebenSat.1 Media SE
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Company presentation September 2021
AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
2
PROSIEBENSAT.1 AT A GLANCE
2,975
GROUP 655
We strive to systematically and synergistically connect
Group Revenues entertainment, dating and digital consumer brand businesses Group adj. EBITDA
LTM Q2 2021 to create long-term value LTM Q2 2021
EUR 4,399m 927 EUR 834m
497 110 88
Entertainment Dating Commerce & Ventures
DATING ENTERTAINMENT COMMERCE & VENTURES
DATING & LIVE CONTENT PRODUCTION ENTERTAINMENT MONETIZATION SEVENVENTURES/ NUCOM GROUP/
MATCHMAKING
ENTERTAINMENT & IP & DISTRIBUTION & REACH & AD TECH P7S1 ACCELERATOR SEVENGROWTH
PYJAMA
PICTURES
• Leading mobile-first global player in the • Operates leading Entertainment platforms • Focuses on investments in digital
dating segment in linear and digital by leveraging synergies companies in consumer-oriented
with own production and distribution markets; from early stage to more mature
• Focuses on building an ecosystem across house companies
matchmaking, online dating and social
entertainment • Generates advertising spaces leveraged by • Concentrates on investments that have
external clients as well as internally (by strong synergies with the Entertainment
• Leverages synergies within new Group Dating and Commerce & Ventures business
(cross-selling between brands, technologies businesses)
and platform scaling, data synergies, etc.)
3
STRONG EXECUTIVE BOARD SINCE MARCH 2020
RAINER BEAUJEAN WOLFGANG LINK CHRISTINE SCHEFFLER
Chairman of the Executive Board Member of the Executive Board Member of the Executive Board
Responsibilities Responsibilities Responsibilities
Dating: ParshipMeet Group Entertainment: Seven.One Entertainment Group Human Resources, Compliance, Sustainability,
Commerce & Ventures: e.g. SevenAccelerator, (Content, Digital, Sales, Distribution), Red Arrow Organizational Development & Operational
SevenVentures and NuCom Group Studios (incl. Studio71) Excellence
Holding: e.g. Strategy, M&A, Communications, IR,
Controlling, Accounting & Taxes, Treasury, Internal 2020/03 Member of the Executive Board 2020/03 Member of the Executive Board & Chief
Audit, IT, Legal, Regulatory & Governmental Affairs 2019/04 Co-CEO Entertainment Human Resources Officer
2013/10 Management Board member & CEO of 2019/01 joined ProSiebenSat.1 as Chief Human
2020/03 Chairman of the Executive Board & CFO Seven.One Entertainment Group Resources Officer
2019/07 Member of the Executive Board & CFO 2009/06 joined ProSiebenSat.1 as Entertainment
Director of SAT.1 Before Christine joined ProSiebenSat.1, she held various
Before Rainer joined ProSiebenSat. 1 he held several Management positions at Webhelp Group (provider of
Board- and Management positions at Gerresheimer AG Before Wolfgang joined ProSiebenSat. 1, he worked for business process outsourcing), Avarto AG and
(packaging manufacturer), Elster Group (manufacturer various musical and live productions as production Bertelsmann
of measurement and control technology), Demag Cranes manager and executive producer
(crane manufacturer), T-Online and Deutsche Telekom
4
AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
5
GROUP PROFILE INCREASINGLY DETERMINED BY STRUCTURALLY GROWING
BUSINESSES - DEPENDENCY ON TV AD BUSINESS REDUCED FURTHER
ENTERTAINMENT Group revenues, Group revenue split ENTERTAINMENT
• Operates leading Entertainment platforms LTM Q2 2021, in %
COMMERCE &
in linear and digital by leveraging synergies VENTURES
with own production and distribution house
Advertising DACH
• TV channels and online platforms generate DATING
advertising as well as subscription revenues 11% 45%
• Platform-independent approach to match
changing consumer preferences and achieve Distribution, Content
long-term revenue and earnings growth and Other
23%
21%
PROSIEBENSAT.1
GROUP
DATING COMMERCE & VENTURES
• Leading mobile-first global player in the
EUR 4,399m • Focuses on investments in digital
(LTM Q2 2021) companies in consumer-oriented
dating business
markets; from early stage to more
• Focuses on building an ecosystem across mature
social entertainment, online dating and 11% • Concentrates on investments that
matchmaking
have strong synergies with the
• Leverages synergies within Dating and with 23% Entertainment business
21%
Entertainment (cross-selling between brands,
• Online assets that provide long-
technologies and platform scaling, data
term structural growth potential
synergies, etc.)
6
PROSIEBENSAT.1 HAS FURTHER DIVERSIFIED ITS
PROFILE WHILE DOUBLING GROUP REVENUES
REVENUE SPLIT IN EUR M
CAGR:+6.8%
4,399
114
780
497
475
2,199 176
112
~401) ~1001)
Advertising
Distribution
2,356 Content
1,947
Matchmaking & Social-Entertainment
Digital Platform & Commerce
Other
FY 2011 continued LTM Q2 2021
1) Unaudited figures, for demonstration purposes only 7
REVENUES AND ADJ. EBITDA OF DATING AND COMMERCE & VENTURES BUSINESS HAD
STEADILY INCREASED – ENTERTAINMENT WITH CATCH-UP POTENTIAL
GROUP AND SEGMENT REVENUES IN EUR M GROUP AND SEGMENT ADJUSTED EBITDA IN EUR M
CAGR: +4%
CAGR: +18%
4,399
4,135 4,047 872
9271) 834
9101) 1162)
9451)
44 882)
209 497 706
333 110
842)
3,016 2,768 2,975 Entertainment
774 80
Dating 655
Commerce & Ventures
Reconciliation 561
-62 -19 -19
FY 2019 FY 2020 LTM Q2 2021
FY 2019 FY 2020 LTM Q2 2021
• LTM Q2 2021 Entertainment revenues already close to FY 2019 level. • LTM Q2 2021 adjusted EBITDA of Entertainment segment reflects
However, DACH advertising revenues still >EUR 100m below FY different mix compared to FY 2019 as well as negative impact of
2019 which has largely been compensated by Content and Studio71 COVID-19 related decline of advertising revenue in Q1 2021
business
• Adj. EBITDA of Dating and Commerce & Ventures combined has
• CAGR vs. FY 2019 supported by increasing share of Dating revenues increased by EUR 38m vs. FY 2019
Note: FY 2019 split on the basis of unaudited segment figures due to new segment structure since 01/01/2021; 1) Includes revenues of WindStar Medical of EUR 109m (FY 2019), EUR 114m (FY
2020) and EUR 54m (LTM Q2 2021); 2) Includes adjusted EBITDA of WindStar Medical of EUR 17m (FY 2019), EUR 18m (FY 2020) and EUR 8m (LTM Q2 2021) 8
AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
9
DYNAMIC GROUP REVENUE INCREASE OF +48% TO EUR 1,048M IN Q2 2021 VS. Q2 2020 -
ADVERTISING BUSINESS BIGGEST GROWTH CONTRIBUTOR
External Revenues +48% +55% >+100% -2%
Growth YoY
[in EUR m]
1,048
709 736
476
139 176 172
58
External Revenues
[in EUR m]
Q2 2020 Q2 2021
Group revenues Q2 2020 Q2 2021
Entertainment Q2 2020 DatingQ2 2021 Q2 2020 & Ventures
Commerce Q2 2021
Group Entertainment Dating Commerce & Ventures
Organic Growth YoY -2%
+44% +58% +18%
[in EUR m] +5% pro-forma
• All segments contributed • Strong recovery of TV and • Strong reported growth • Broad-based revenue
to Group revenue growth digital ad business driven by first-time growth of C&V businesses
• Highest second-quarter • Content business up consolidation of The Meet • COVID-19-impacted
revenues in Group history strongly, Distribution Group businesses have started
growth continues • Matchmaking about flat to recover
Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s revenues adjusted for portfolio and currency effects, the revenues of The Meet
Group and its revenues adjusted for currency effects in the previous-year quarter are included here 10STRONG GROUP REVENUE GROWTH DRIVEN BY
RECOVERY OF ADVERTISING BUSINESS IN Q2 2021
EXTERNAL REVENUES: GROUP & SEGMENTS
[in EUR m]
Comments
• Strong recovery of Group revenues,
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY highest second-quarter revenues in Group
history.
Group 1,048 709 +48% 1,986 1,634 +22% • Entertainment segment revenue
performance reflects recovery of
Organic 964 668 +44% 1,817 1,548 +17% advertising business following COVID-19
impacted quarter the year before. DACH
Entertainment 736 476 +55% 1,346 1,139 +18% advertising revenues grew +57% in Q2.
• Content business more than doubles its
Organic 736 466 +58% 1,346 1,117 +21% revenues in Q2 2021 with biggest
contributions from Production business.
Dating 139 58 >+100% 280 117 >+100%
• Continuing growth of Distribution
Organic 55 56 -2% 111 113 -2% business mainly due to positive HD
subscriber development.
Pro-forma 139 132 +5% 280 236 +19%
• Dating segment benefits from first-time
Commerce & consolidation of The Meet Group. Strong
172 176 -2% 360 378 -5% pro-forma revenue growth in H1 2021.
Ventures
Organic 172 147 +18% 360 318 +13% • Commerce & Ventures segment grows
strongly by +18% organically in Q2 2021,
reported revenues reflect deconsolidation
of WindStar Medical.
Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s
revenues adjusted for portfolio and currency effects, the revenues of The Meet Group and its revenues
adjusted for currency effects in the previous-year quarter / half-year are included here 11ADJUSTED EBITDA INCREASED MORE THAN
SEVENFOLD IN Q2 2021
ADJUSTED EBITDA: GROUP & SEGMENTS
[in EUR m]
Comments
• Group adjusted EBITDA increases more
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY than sevenfold to EUR 166m.
• Profitability of Entertainment segment
Group 166 23 >+100% 308 180 +71% strongly benefits from recovery of
advertising business. However, adjusted
EBITDA drop-through also reflects
increased program spend in both Q2 2021
Entertainment 142 3 >+100% 239 145 +65%
and H1 2021 to further strengthen
Entertainment business and reach of our
content.
Dating 28 16 +81% 61 31 +95%
• Dating segment adjusted EBITDA
increases meaningfully due to first-time
Commerce & consolidation of The Meet Group. On pro-
2 9 -71% 19 15 +31%
Ventures forma basis, i.e. including The Meet Group
in the prior year, segment profitability
Reconciliation reflects slight change in business mix with
-7 -3 >+100% -11 -11 -1%
(Holding & other) higher contributions of The Meet Group.
• Commerce & Ventures segment reflects
deconsolidation of WindStar Medical in Q2
2021 (EUR 5m) and H1 2021 (EUR 10m).
Segment adj. EBITDA margin improved by
about 1%pt in H1 2021.
12GROUP NET EARNINGS UP ALONG WITH OPERATING
PROFITABILITY – POSITIVE IMPACT FROM ABOUT YOU
EBITDA EBIT, NET INCOME, ADJ. NET INCOME, ADJ. OPERATING FCF
[in EUR m]
Comments
• Reported EBITDA also increases more
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY than sevenfold – about in line with
adjusted EBITDA.
EBITDA 151 21 >+100% 289 166 +74% • EBIT development meaningfully
benefiting from Group adjusted EBITDA
improvement and turning positive again
after loss in Q2 2020.
EBIT 83 -35 n/a 163 45 >+100%
• Reported Net Income increased strongly
primarily due to better operating
Net income1) 123 -54 n/a 189 -17 n/a profitability as well as a gain of 60 million
Euros, recognized in other financial result,
resulting from the ABOUT YOU placement
Adjusted and the remeasurement of the remaining
63 -52 n/a 100 7 >+100%
net income1) shares held by SevenVentures.
Adjusted • Adjusted Net Income and Adjusted
87 14 >+100% 169 33 >+100%
operating FCF Operating FCF also strongly up along with
better operating profits.
1) Attributable to shareholders of P7S1 13ENTERTAINMENT BUSINESS HAS BENEFITED GREATLY
FROM RECOVERY IN THE ADVERTISING MARKET
EXTERNAL REVENUES AND ADJUSTED EBITDA
[in EUR m]
Comments
• Advertising business both in DACH region
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY as well as globally benefited from
significant recovery following pronounced
decline in COVID-19-impacted Q2 2020.
External Revenues 736 476 +55% 1,346 1,139 +18%
• Distribution business continued its steady
Organic 736 466 +58% 1,346 1,117 +21% revenue growth particularly driven by
further increase in HD subscribers.
Advertising 542 350 +55% 983 860 +14%
• Revenues of Content business also
DACH 483 308 +57% 874 773 +13% increased dynamically as Production
business normalizes post lockdown in key
markets U.S., U.K. and Germany.
Rest of World 59 42 +41% 108 87 +24%
• Other Entertainment revenues mirror
deconsolidation of myLoc – underlying
Distribution 46 42 +9% 90 83 +9%
revenue development positive.
Content 124 60 >+100% 227 145 +56%
Other 24 24 +2% 47 51 -9%
Adjusted EBITDA 142 3 >+100% 239 145 +65%
Note: Organic = adjusted for portfolio and currency effects 14DATING SEGMENT BENEFITS FROM FIRST-TIME
CONSOLIDATION OF TMG AND ITS LIVE VIDEO BUSINESS
EXTERNAL REVENUES AND ADJUSTED EBITDA
[in EUR m]
Comments
• Dating segment revenues primarily
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY increase due to first-time consolidation
effect resulting from The Meet Group
acquisition.
External Revenues 139 58 >+100% 280 117 >+100%
• Matchmaking revenues developed about
Organic 55 56 -2% 111 113 -2% stable reflecting somewhat tougher
comparable figures at beginning of
Pro-forma 139 132 +5% 280 236 +19% COVID-19 pandemic. At the same time,
long lockdown had a negative impact on
matchmaking business in Q2 2021 and H1
Adjusted EBITDA 28 16 +81% 61 31 +95% 2021.
• Weaker U.S. dollar burdened reported
revenues resulting from Dating business
in the United States (about 65% of
segment revenues in H1 2021).
• Pro-forma currency-adjusted revenue
growth, i.e. including contributions from
The Meet Group in prior year, amounted to
+19% in H1.
Note: Organic = adjusted for portfolio and currency effects; Pro-forma = on the basis of the segment’s
revenues adjusted for portfolio and currency effects, the revenues of The Meet Group and its revenues
adjusted for currency effects in the previous-year quarter / half-year are included here 15COMMERCE & VENTURES SEGMENT WITH STRONG
ORGANIC GROWTH OF +18% IN Q2
EXTERNAL REVENUES AND ADJUSTED EBITDA
[in EUR m]
Comments
• Commerce & Ventures segment delivered
Q2 2021 Q2 2020 YoY H1 2021 H1 2020 YoY stable revenue performance in Q2 2021.
This takes into account deconsolidation of
External Revenues 172 176 -2% 360 378 -5% WindStar Medical (EUR 29m). On a
portfolio and currency adjusted basis
segment revenues improved strongly by
Organic 172 147 +18% 360 318 +13%
+18%. In H1 2021, revenues reflect EUR 61m
deconsolidation effect of WindStar
Advertising 34 24 +42% 65 56 +15% Medical.
NuCom Group 138 151 -8% 294 320 -8% • Double-digit % revenue growth of
advertising business supported by
recovery of SevenVentures business and
Consumer Advice 41 36 +15% 92 97 -6% continuing growth of marktguru and
wetter.com.
Experiences 9 10 -12% 20 25 -20%
• Consumer Advice has partly recovered
from meaningfully impacted business in
Beauty & Lifestyle 88 105 -16% 182 198 -8% prior year due to COVID-19 pandemic
(especially billiger-mietwagen.de).
Other 1 1 -34% 1 2 -24%
• Beauty & Lifestyle vertical again growing
strongly on like-for-like basis. However,
Adjusted EBITDA 2 9 -71% 19 15 +31% growth of Flaconi somewhat lower due to
strong comparable figures in Q2 2021.
Note: Organic = adjusted for portfolio and currency effects 16WE ARE ON TRACK TO REACH OUR FINANCIAL LEVERAGE TARGET
NET FINANCIAL DEBT
[in EUR m] Debt profile [in EUR m] 06/21 12/20 06/20 Maturity
Senior Notes n/a 600 600 Jan-21
-197
Term Loan 151 151 151 Apr-23
RCF (74m of 750m) 35 Apr-23
3.6x1)
2.8x1) Promissory Loans 275 275 275 Dec-23
2,353 2.6x1)
Term Loan 1,949 1,949 1,949 Apr-24
2,156
1,968 RCF (676m of 750m) 315 Apr-24
Promissory Loans 225 225 225 Dec-26
Other loans and borrowings2) (6) (8) (8) Misc.
Total gross debt 2,594 3,192 3,542
Cash and cash equivalents (438) (1,224) (1,190)
Total net debt 2,156 1,968 2,353
• Strong cash generation in past twelve months leads to net financial debt
reduction by EUR 197m to EUR 2,156m at the end of Q2 2021 vs. Q2 2020
despite dividend pay-out of EUR 111m in June 2021
• Meaningful improvement of leverage factor with a reduction to 2.6x at the
06/30/2020 12/31/2020 06/30/2021 end of Q2 2021 compared to factor 3.6x at the end of Q2 2020
• Significant reduction of gross debt due to repayment of EUR 600m senior
notes in January 2021
1) Financial leverage: net debt/LTM adjusted EBITDA; Note: IFRS net debt as per P7S1 definition (i.e., excluding lease liabilities and real estate liabilities); 2) includes deductions of
finance costs/disagio according to IFRS 17AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
18External Revenues
[in EUR m] 996
736
664 633 610
476
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
Adjusted EBITDA
[in EUR m] 301
ENTERTAINMENT 143
115
97
142
3
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
19SNAPSHOT ENTERTAINMENT
Reach Monetization Content
More focus on expanding digital reach and Adressing new budgets Optimization of content and playout
digitization of TV and new businesses
PYJAMA
PICTURES
• We distribute our content across various • We market the Group‘s entire portfolio across • We can only win the competition in attracting
platforms: Linear TV, channel websites, all channels: TV, Adressable TV, online, mobile, viewers and users in the long term with our
channel apps, fan worlds, streaming platform video on demand, teletext own content which is exclusively available on
Joyn • Thereby TV is becoming increasingly digital our channels and digital platforms
• In addition we work with third-party and we are therefore developing innovative • For this, we need the right program and genre
platforms(e.g. Telekom, Vodafone, HD+) and advertising solutions: Adressable TV, mix
digital players such as Waipu.tv and Zattoo as CrossDevice Bridge, One:Many, C-Flight • Therefore we concentrate on producing
well as YouTube and Facebook for short-form • In addition we participate in the technical relevant, local and live content
content service fees that end customers pay to the
respective providers for programs in HD quality
TV channels with TV channel websites and Share of local content hours
61m3) TV devices 1,220 Channels
~Ø 60m monthly interactive TV channel apps: already increased by +16% in
in Germany 12m4) TV devices and 11m5) on Studio71
viewers 6.82m Unique Users1) Q2 2021 vs. PY6)
digital video unique users
who can be addressed with
Ø 220 minutes 10.9m HD FTA addressable TV advertising Talk of town Rights to major sport
Freemium streaming app
daily TV subscribers in H1 formats with events: NFL, Bundesliga &
Joyn: 3.74m Unique User2)
consumption 2021 ratings over 20%7) Formula E
1) Basis: A 16+, Ø Q1 2021, TV websites (incl. ran & Galileo); Source: AGOF Daily Digital Facts/P7S1; no AGOF data available since April 12, 2021; 2) Basis: A 16+, Ø Q1 2021; Source: AGOF Daily
Digital Facts/P7S1; no AGOF data available since April 12, 2021; 3) Basis: Total TV sets in Germany, Source: Digitalisierungsbericht Medienanstalten/Kantar 2020; 4) Basis: Connected
TVs with HbbTV and P7S1 linear TV usage; Source: P7S1 tracking and own calculation 2021; 5) Basis: A 16+, Ø Q1 2021, TV websites (incl. ran & Galileo) and JOYN; Source: AGOF Daily
Digital Facts/P7S1; no AGOF data available since April 12, 2021; 6) SAT.1 and ProSieben Prime Time 7) Examples: Masked Singer, GNTM 20TV ADVERTISING MARKET RAPIDLY RECOVERING FROM
THE PANDEMIC
NIELSEN GROSS ADVERTISING REVENUES BY MEDIUM, GERMANY
H1 2021 spend in EUR bn Q2 2021 vs. PY H1 2021 vs. PY
TV 7.4 27% 10%
Print 3.9 6% -4%
Online 2.1 16% 6%
OOH 1.0 25% 1%
Radio 0.8 16% -6%
Cinema 0.1 -95% -100%
Source: The Nielsen Company © SAT.1
ProSieben/Willi Weber 21SIGNIFICANT IMPROVEMENT IN MOST GERMAN TV
ADVERTISING INDUSTRIES
TOP 15 TV ADVERTISING INDUSTRIES, YOY CHANGE IN GROSS AD SPEND1)
H1 2021 spend in EUR bn Q2 2021 vs. PY H1 2021 vs. PY
Cosmetics + Toiletries 1.0 64% 33%
Services 0.9 -8% -10%
Food 0.9 67% 22%
Retail + Mail-Order 0.6 50% 30%
Health Care + Pharma 0.5 26% 7%
Automotive 0.4 189% 35%
Beverages 0.3 84% 42%
Telecommunications 0.3 36% 9%
Home + Garden 0.3 54% 22%
Finance 0.3 -3% -17%
Cleaning 0.3 0% 8%
Textiles + Clothing 0.2 4% 4%
Computer + Office 0.1 58% 51%
Gastronomy 0.1 90% 18%
Personal Accessories 0.1 30% 24%
1) Based on TV gross ad spend, excl. media and other advertising, Source: The Nielsen Company © ProSieben/Stefan Gegorowius 22STRONG CATCH-UP EFFECT OF P7S1’S ADVERTISING
REVENUES IN Q2 2021
ENTERTAINMENT DACH ADVERTISING REVENUES, CHANGE YOY IN %1)
+80%
+60% +57%
+40%
+20%
+3%
0%
-5% -6%
-20% -16%
-40% -37%
-60%
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021
• Strong improvement of Entertainment advertising revenues in Q2 (+55% worldwide)
which more than compensated Q1 results (-14% worldwide)
• H1 2021 Entertainment advertising revenues up by +14% (worldwide)
• Positive trend continues in July, mainly driven by food, pharma and service industries
1) DACH = Germany, Austria, Switzerland; excluding SevenVentures and Seven Growth advertising revenues © ProSieben/Richard Hübner 23PROSIEBENSAT.1 IS LEADING THE GERMAN TV MARKET
NIELSEN GROSS ADVERTISING AUDIENCE SHARE
REVENUE SHARE, LTM Q2 20211) A 14-49, LTM Q2 20212)
ProSiebenSat.1 Group: 37.6% ProSiebenSat.1 Group: 26.2%
Other
ARD/ZDF Seven.One Other
7.8% Media 10.1%
Sky 3.5% 19.9%
4.1% 7.7%
Discovery
6.3% 37.6%
RTL 2 5.0% 4.3%
El Cartel 6.5% 4.1%
ARD III 6.1%
9.0%
23.8%
ZDF
34.2% 9.9% RTL Group
Ad Alliance ARD
1) Based on TV gross ad spend, incl. media and other advertising, Source: The Nielsen Company; 2) Basis: Mo-
So, 20:15-23:00h, A 14-49; Source: AGF in cooperation with GfK/videoscope/market standard TV/P7S1; RTL
Mediengruppe since June 2016 incl. RTLplus and without RTL 2 minority © SAT.1 24CONTINUING CONSISTENT LOCAL CONTENT STRATEGY
TO MAINTAIN LONG-TERM REACH
MAIN ACHIEVEMENTS IN Q2 2021
We further invest in attractive and relevant content to strengthen our reach
across all platforms:
• Focus on live content e.g., German First and Second soccer league Bundesliga,
Formula E, U21 EURO, Schlag den Star
Local & live • Successful lighthouse shows e.g., most successful Germany’s Next Topmodel
content By Heidi Klum season in 12 years, Stealing the Show
• Expansion of Factual & Public Value content e.g., Jenke.Crime
• Share of local content hours already increased by +16% in Q2 2021 vs. PY1)
Outlook: Further increase of local slots in channel grids e.g., switch to local in
Monday Prime Time on ProSieben (Zervakis & Opdenhövel. Live.)
• Sale of new advertising Total Video based on CFlight2) started in July with
strong interest from agencies and clients
Advertising • d-force, the joint venture of RTL and P7S1 for addressable TV, now provides for
the first time a solution for programmatic addressable TV spot in the German-
speaking advertising market
• Focus on unique local and live content pays off with Distribution revenues
Distribution
growing at 9% in Q2 2021 vs. PY
1) SAT.1 and ProSieben Prime Time; 2) CFlight ® NBC Universal Media, LLC © SAT.1 25PROOF CASE GNTM – SUCCESSFUL TRANSFORMATION
INTO A ONE ENTERTAINMENT COMPANY
PRODUCTION DIGITAL PERFORMANCE
Produced by in-house 2.7m users and 12.8m video
production company views on social media incl.
RedSeven Entertainment successful premiere of Insta
(part of Red Arrow Studios) Reels with +16m views
SALES DIGITAL
TV
12 existing and new MARKETPLACE
advertising partners Glomex generated
and numerous native additional attention,
placements directly digital reach and
in the show – more Most successful revenues by offering
than ever before (e.g. season in 12 years1) short clips to +100
Flaconi) websites
DIGITAL BRAND EXTENSION SOCIAL RESPONSIBILITY
Digital live event GNTM-X More diverse candidates than
produced by Starwatch ever and extensive on-air & off-
generated +1m views and air marketing campaign
added value to our ad partners against hate on the internet
1) Basis: Mo-So, 3-3h, Ø 20.3% A 14-49; Source: AGF in cooperation with GfK/videoscope/market standard TV/P7S1
© ProSieben/Richard Hübner 26TV IS GETTING MORE DIGITAL – UNIQUE COMBINATION
OF PROPRIETARY INVENTORY, TECH & DATA
CONVERGENT LINEAR AND DIGITAL INVENTORIES
Addressable TV / VoD
Linear TV Convergent video
HbbTV Digital video
61m 12m 11m Convergent video
advertising products
TV devices1) TV devices2) Unique Users3) across TV and Digital
• All TV devices • Based on tech • TV websites & apps • Total Video – based
• Linear TV ads standard HbbTV • Joyn on CFlight4)
• Addressable TV ads • Digital video ads • Cross-device,
• Efficient targeting and subscription bookable across
options marketers via d-
• First party data &
force
7Pass
Data offensive: Increasing focus on data collection and measurement –
new socio-demographic targeting based on waterfall model
1) Basis: Total TV sets in Germany, Source: Digitalisierungsbericht Medienanstalten/Kantar 2020; 2) Basis: Connected
TVs with HbbTV and P7S1 linear TV usage; Source: P7S1 tracking and own calculation 2021; 3) Basis: A 16+, Ø Q1 2021,
TV websites (incl. ran & Galileo) and JOYN; Source: AGOF Daily Digital Facts/P7S1; no AGOF data available since 12.04.;
4) CFlight ® NBC Universal Media, LLC © ProSieben/Stefan Gegorowius 27ADDRESSABLE TV COMBINES THE BEST FROM TV & DIGITAL
Medium with Approach to specific
the largest reach target group
Adding emotional Targeting at
appeal with video Addressable device level
TV
Precise
Brand measurability
safety
TV Digital
Lean back Efficient use of
effect advertising budget
28~12 MILLION DEVICES ADDRESSABLE WITH ADDRESSABLE TV, ~5M WITH
ADDRESSABLE TV SPOT
Linear TV Smart TV Smart TV connected Addressable TV Addressable TV spot
with with with with
• All TV devices • All smart TV devices • All smart TV devices • DVB reception • Smart TV population
• All receiving • All receiving • All receiving (Sat/Cable/Terrestrial) with HbbTV 1.5 or 2.0
channels channels channels • Internet-connected standard that allows
• Internet-connected • No proprietary IPTV or spot replacement in
cable set-top box addition to Switch-Ins
• P7S1 channel portfolio • P7S1 channel portfolio
60.6 28.4 21.4 ~12 ~5
Reach-Potential TV devices (m)
Source: ProSiebenSat.1 estimate based on Digitalisierungsbericht, die medienanstalten / Kantar 2020 and Seven.One Tracking; base: Germany 29ADDRESSABLE TV MAKES TV SMART
SWITCH-IN ADDRESSABLE TV SPOT
~500 M1) ~50 M2)
Ad impressions/month Ad impressions/month
ATV Spot
SwitchIn XXL
~ 12 M ~ 5 M TVs
Addressable Digital Top With HbbTV Digital Connection
devices targeting advertising effect standard >1.5 targeting AdServer
1) Source: Seven.One Media, June 2021 (average SwitchIn contacts
December 2020–June 2021) 2) Source: Seven.One Media, June 2021 (average MAIs January 2021–June 2021) 30AT PROSIEBENSAT.1 ADDRESSABLE TV MEANS TARGETED ADS EVEN ON LINEAR TV
Demo Video
LINEAR TV ADVERTISING BLOCK / JOYN TV LIVESTREAM1)
Linear Opener Closer Linear
TV program (still image) (still image) TV program
SPOT A P7S1 Portfolio Company SPOT C
Switch to Mirroring Overlay Mirroring
Switch to
digital stream linear TV
Opener Closer
(still image) (still image)
SPOT A AddTV Spot 20“ SPOT C
Coverage
DIGITAL ADVERTISING BLOCK HbbTV 1.5 + 2.0 devices + Joyn Livestream
1) Spot exchange in livestream via Digital AdInsertion (DAI) 31FIRST TIME CROSSDEVICE CONNECTION
BETWEEN TV AND DIGITAL DEVICES
PREVIOUSLY NEW
CrossDevice
TV Digital CrossDevice Household groups
ID
ID
ID WLAN
Matching via IP
Address of the
router
Challenge Advantage
• Media planning in silos: TV | Online/MEW | Mobile iOS, Android • CrossDevice matching of devices at household level
• Campaigns and target groups are difficult to plan and address • Addressing target groups across devices
• Little control for comprehensive TV/Digital campaigns • Full control over net range and contact dose
• Linking of TV/Digital only via Media Mix Modelling • Incremental reach, OTS Optimizer contacts and storytelling
based on household assignment
32UNIFORM PRINCIPLES AND HIGHEST MEDIA QUALITY
FOR CROSS-MEDIA CAMPAIGNS AT TV LEVEL
THE CFLIGHT1) CONCEPT PRINCIPLES
CFlight ensures the AGF standard. Further, the AGF is fully
supported in a cross-platform reach measurement.
CFlight uses the best possible data-sources to map
demographic information on non-linear platforms. Only
contacts in the target group are considered.
CFlight is open to other market participants
CFlight defines highest media quality, differentiating itself
from video ads with lower media quality: 100% view-through
rate, 100% audio, 100% viewability.
1) CFlight® NBCUniversal Media, LLC. 33CFLIGHT WITH HIGHEST AMBITION REGARDING MEDIA QUALITY
Definition Equalized
Mediaquality Contacts
VTR Viewability Audibility Valid
(View through rate)
Linear TV By Design
Completed Ads
audible, viewable,
human
Contacts on-target
Completed Viewable on Audible on Human
Digital Ad VTR 100 completion completion impression
SOM measurement:
Digital: valid avoc Linear TV
AVOC: Audible, viewable on completion
Digital
On-Target
Digital
valid AVOC
CFlight definition VTR, Seven.One Media also takes into account for digital media quality viewability, audibility and valid traffic 34External Revenues
[in EUR m] 141 139
132
84
59 58
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
Adjusted EBITDA
[in EUR m] 33
29 28
DATING
19
16 16
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
35SNAPSHOT DATING
International market leader in matchmaking and global champion in video dating - Whatever people are looking for with us, we have the right
service for them - Our highly diversified range of apps offers something for everyone.
This is what makes us so unique in the online dating market
Matchmaking Social Dating and Entertainment
Parship eharmony ElitePartner MeetMe Tagged Growlr Skout Lovoo
• 20+ years of Experience in building happy, long-term relationships • 15+ years of meeting the universal need for human connection
• Scientific methods create highly compatible couples and lasting • Highly interactive environments allow people to meet, chat, date,
love and enjoy live entertainment
• Strong brands with market leading • The largest provider of livestreaming dating games in the world
positions in Europe and North America with a focus on North America and Europe
Geographic Footprint1)
US Germany Rest of World
52% of revenues 25% of revenues 23% of revenues
1) Pro-forma FY 2020 revenues 36HIGHLY DIVERSIFIED BUSINESS MODEL AND REVENUE STREAMS STANDING OUT IN THE
MARKET
Subscription Advertising Virtual Goods B2B vPaaS
Customers of our matchmaking To advertisers seeking data-driven Our social dating apps – MeetMe, Live video streaming is a global
services – eharmony, Parship and and highly targeted access to Skout, and Tagged — pioneered a megatrend, and we are among
ElitePartner – are looking for hard-to-reach demographic new revenue model in the dating the earliest pioneers and leaders
happy, long-term relationships. It groups, we offer massive scale, industry: virtual gifts in in our core markets.
may be love at first sight – or it with 10+ billion monthly ad livestreaming video. Like buying a As the top provider of interactive
may take a few months. For these impressions across our active and drink at the bar, viewers of live dating services, we offer live video
individuals we offer subscriptions growing global community, and video streams send virtual gifts to streaming products not only
with terms of 6 months or longer. sophisticated data science for their favorite streamers to stand within our own brand portfolio,
effective hyper-targeting. out and express interest. but also for partners, as a
Customers of our dating services,
LOVOO and GROWLr, are looking As mobile usage grows and Our social dating apps monetize customized and ready-to-use
for a more relaxed atmosphere in advertising continues its fast primarily through in-app solution for clients in the dating
which they can find a date for the migration to follow the eyeballs to purchases. industry and beyond.
weekend that may turn into mobile devices, our remarkably
something more. Accordingly, we engaged global audience will
also offer shorter-term become ever more valuable to
subscriptions. advertisers around the world.
37SOCIAL ENTERTAINMENT WILL INCREASINGLY
REPRESENT A GROWTH DRIVER GOING FORWARD
LIVE-VIDEO IS A MAJOR REVENUE SOURCE FOR OUR DATING SEGMENT
• Running live-streaming video successfully relies on building and constantly optimizing a
fully integrated solution
• Live-video engages and monetizes fans & micro-influencers through virtual gifts (e.g.
roses). Streamers who receive virtual gifts can redeem these items for cash payouts
• Revenues from live-video now represent >1/3 of the revenues of the Dating segment, and
growing
• New live formats are developed continuously to engage the audience via freshness and
link to Entertainment segment
EXEMPLARY LEARN MORE
NEW LIVE ABOUT LIVE
FORMATS VIDEO PRODUCT
DATING SEGMENT RESULTS ON TRACK
LTM Revenues LTM adjusted
+22%
(pro-forma) EBITDA (pro-forma) +27%
553 [in EUR m]
[in EUR m] 453
98 124
Q2 20 Q2 21 Q2 20 Q2 21
Note: Dating segment LTM revenues (pro-forma) including pro-forma figures for The Meet Group for the
periods prior to first-time consolidation (September 2020) translated at the exchange rates used in the
corresponding ProSiebenSat.1 Groups financial statements 38SUCCESSFUL VPAAS COMMERCIALIZATION TO
SUPPORT FUTURE SEGMENT DEVELOPMENT
VIDEO-PLATFORM-AS-A-SERVICE (VPAAS) RAISES GROWING INTEREST
• vPaaS is already implemented with major players within the dating industry
• The platform benefits strongly from network effects, allowing 3rd parties fast scaling and a
lock-in effect
vPaaS used or in
Technology Moderation Talent development by eight
Continued 500+ human Management brands, including:
investments in moderators 30-person
software combined with team to recruit
improvements sophisticated emerging
& new features AI talents
Formats Monetization Audience
Constantly Gifting to 1.2 m
developing streamers broadcasters
new formats to based on and 8.9 m
engage the in-app coin viewers per
audience purchases month
39External Revenues
[in EUR m] 363
203 204 187
176 172
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
Adjusted EBITDA
[in EUR m] 50
COMMERCE & 9
19 17
VENTURES
6
2
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
40SNAPSHOT COMMERCE & VENTURES
Majority investments & growth platforms:
• Invest cash and media with strategic interest
• Synergies exploration
• Media-for-Revenue & Media-for-Equity
minority invests to utilize idle inventory • Focus on operational & data excellence
• Enabling growth and scalability for partner
CONSUMER ADVICE
• Standardized 360° media testing deals through full reach
(TV, video, influencers,…) • Broad B2C industry focus in GSA
• Focus on digital and FMCG start-ups
BEAUTY & LIFESTYLE
EXPERIENCES
Selection of transactions Selection of transactions
Seed to Early Stage Early & Growth Strategic Growth
Note: NuCom Group shareholder structure: ProsiebenSat.1 Media SE: 71.6% plus EUR 299m preferred equity, General Atlantic: 28.4% 41STRONG RECOVERY DRIVEN BY REBOUND OF CORONA-
IMPACTED BUSINESSES
COMMERCE & VENTURES ORGANIC REVENUES, CHANGE YOY IN %1)
+20% +18%
+10%
+10% +9%
+7%
0%
-1%
-5%
-10%
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021
• Improved double-digit % organic revenue growth of Commerce & Ventures in Q2
2021 which is strongly driven by rebound of Corona-impacted companies
regaining positive momentum, for example:
• SilverTours with +68% rental car booking2) increase vs. Q2 2020
• Advertising business with +42% revenue growth vs. Q2 2020
Note: Organic = adjusted for portfolio and currency effects;
1) Q1-Q4 2020 change YoY on the basis of unaudited segment figures for comparison quarters 2019 due to new
segment structure since 01/01/2021; 2) Before cancelation 42FOUR SUCCESSFUL INVESTMENTS IN Q2 2021
SEED TO EARLY STAGE EARLY & GROWTH STRATEGIC GROWTH
follow-on follow-on new deal
M4E and M4R Follow-on
deal with leading Follow-on M4E deal with Cash and M4E deal with
provider of children’s leading marketplace for leading European sports
smart watches smart home products and wellbeing platform
new deal
M4E deal with UK-based
addressing technology
company what3words
that provides a simple
and precise way to
communicate location
2021: SUCCESSFUL ABOUT YOU IPO UNDERPINS VALUE OF M4E MODEL
• SevenVentures as first external investor of ABOUT YOU in 2016, supporting topline growth
and brand awareness as part of a large Media-for-Equity investment over 5 years
• Shareholding: ~3%1) pre IPO, currently ~1.4% post execution of over-allotment option
1) Stake of SevenVentures prior to the ABOUT YOU IPO and capital increase 43PROVEN BUSINESS MODEL: WINDSTAR MEDICAL SOLD
AT AN ENTERPRISE VALUE OF EUR 280M
WINDSTAR MEDICAL DEVELOPMENT
10/2016 FY 2016 01/2018 10/2020 LTM 11/2020
Acquisition of EUR 70m pro- Acquisition of Acquisition by EUR 123m
WindStar forma external OTC brand Oakley Capital external
Medical (EV of revenues, adj. Zirkulin for (EV of EUR revenues, adj.
EUR 85m, EBITDA margin EUR 32m 280m, EqV of EBITDA margin
equity value of of c. 13% EUR 288m1)) of c. 15%2)
EUR 71m) (FY 2016)
Enterprise
value
HIGH VALUE CREATED FOR INVESTORS increased by
2.4x
since 2016
• Proven business model to build leading brands by leveraging TV media:
Launched brand campaigns for WindStar Medical brand SOS, brand awareness rose in
Germany from 31% in 2016 to 75% in 2020
• Launched diverse new distribution channels (e.g., direct-to-consumer, marketplace, online
pharmacy, etc.)
1) Including shareholder loan; 2) Based on entity adj. EBITDA 44AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
45P7S1 APPROACH TO SUSTAINABILITY/ESG
• P7S1 defines sustainable entrepreneurial activity as an integrated approach for improving its economic, environmental and social
performance.
• P7S1‘s Group-wide sustainability strategy entitled “We love to sustain” is based on the UN Sustainable Development Goals
(SDGs)1); P7S1 is signatory of the United Nations Global Compact.
• P7S1 has expanded the sustainability organization in the last years by installing a Sustainability Committee (2019) and a
Corporate Sustainability Office (2020); Executive Board-level responsibility for non-financial aspects and sustainability
performance indicators.
• External audit of P7S1 Non-financial Report with reasonable assurance; additional engagement of auditor to perform an
independent limited assurance on the Sustainability/GRI Report.
1) Each of the 17 SDGs offers several specific and actionable targets; overall there are 169 targets. As result of a materiality analysis, P7S1 identified six SDGs as most relevant for the
Group with the best strategic fit 46WE LOVE TO SUSTAIN
OUR GOAL
Our goal is to implement sustainability as an integral management
concept in all areas of the P7S1 Group. Sustainable management as
the basis for all our business decisions is to become a matter of
course.
As a company, we want to operate in an inclusive and sustainable,
environmentally and socially responsible way. As a media group,
we want to represent and, above all, promote a cosmopolitan and
democratic society.
OUR PRINCIPLES
We form opinions and promote democracy
We promote equal rights and equal opportunities
We are committed to ecological sustainability and climate
protection
We stand for openness and honesty
. 47ESG TARGETS NOW FULLY INTEGRATED IN OUR NEW
COMPENSATION STRUCTURE
COMPENSATION STRUCTURE SPLIT SHORT TERM INCENTIVE
The Short-Term Incentive depends on the
business success of ProSiebenSat.1 Group in
the respective financial year.
35% -
40% ESG targets It is calculated on the basis of the target
20% achievements determined for the financial
year for adjusted EBITDA and adjusted
Operating FCF, in each case at Group level, as
adjusted Operating well as for the ESG targets.
40%
5% - 10% 15% - 20% FCF
The weighted target achievements are added
together after the end of a financial year, with
the two financial targets each weighted with
adjusted EBITDA 40% and the ESG targets with 20%.
40%
35% - The final payout is limited to a maximum of
40% 200% of the individual target amount (cap)
agreed in the respective service contract.
Base salary
Company pension scheme and fringe benefits
Long Term Incentive
Short Term Incentive
48SELECTED NON-FINANCIAL KEY FIGURES
ENVIRONMENTAL SOCIAL
2020 2019 ∆ 2020 2019 ∆
Total energy consumption in GWh 36.67 40.72 -10% Ratio of women (employees) 49.2% 49.4% -0.2 pp
Energy intensity
(consumption/revenues) in 9.06 9.85 -8%
MWh/EUR m Ratio of women (management) 35.4% 34.8% +0.6 pp
GHG emissions1) – Scope 1 and 2 (CO2
3,787 4,992 -24%
equivalents) in metric tons Ratio of women at first management
25.0% 25.0% 15%2)
level below Executive Board
GHG emissions1) – Scope 1 and 2 (CO2
3,787 4,992 -24%
equivalents) in metric tons Ratio of women at second
management 30.4% 34.2% 30%2)
Total GHG emissions1) – Scope 1, 2 level below Executive Board
9,584 21,284 -55%
and 3 (CO2 equivalents) in metric tons
GHG intensity (emissions/revenues)
2.37 5.15 -54%
in MWh/EUR m
1) The market-based method was used for the calculation of the GHG emissions.
2) By 06/2022. 49STRATEGIC GOALS
Zweifarbiges Bild
Society / Diversity & Inclusion
• Focus increasingly on socio-politically relevant issues in terms of media and content and
structural expansion of sustainable storytelling and influencer marketing
• Further enhancing diversity management in the Group (esp. focusing on ethnic origin and
nationality, gender, sexual orientation and identity)
• Improving audiovisual diversity in the media industry
• Increase number of severely disabled employees and establish Disability Officer to
strengthen inclusion
• Continuously expanding barrier-free offerings for viewers and users
Climate & Environment
• Reduce operational CO2 emissions of P7S1 Group to zero by 2030
(2021: around -15% vs. 2019)
• Achieve the goal of climate neutrality primarily by means of lower energy consumption and
electricity from renewable energy sources
• Potential GHG savings in areas such as mobility, travel management, and “green
productions” identified
• Additionally, offset of CO2 emissions with climate protection projects planned (2021: 10% of
carbon footprint)
50ESG RATINGS, INDICES AND RANKINGS1)
Zweifarbiges Bild
Climate Change
Rating: AA
Score: D
Industry-adjusted
Average performance:
score: 7.7
C
Company score: 39
Inclusion in index
Industry average: 22
Rating: 4.7
ESG risk rating: 11.5
Subsector average: 2.6
Industry (Media): 11/275
Industry average: 2.3
Quality Score
Overall Score: 48/100
Environment: 3
Relative performance:
Social: 3
9/29
Governance: 2
Rating: C- #3 in MDAX
Decile rank: 3 Scorecard for
(High relative Corporate Governance
performance) 2020
51AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
52WE HAVE INCREASED OUR FINANCIAL TARGETS FOR FY 2021
FY 2020 FY 2021 target Comment
• Target takes DACH advertising revenue development in the range
of +3% (previously: -2%) to +7% (previously: +4%) in 2021 into account
EUR 4,400 – 4,500m • Portfolio- and currency-adjusted revenue growth in the range of
Group revenues EUR 4,047m
(Previous target: EUR 4,250 - 4,450m) +9% (previously: +5%) to +11% (previously: +10%)
• Previous-year figure of EUR 4,055m (adjusted for currency and
portfolio effects)1)
~EUR 820m (+/- EUR 20m) • Previous-year figure of EUR 708m (adjusted for currency and
Adjusted EBITDA EUR 706m
(Previous target: EUR 750 - 800m) portfolio effects)2)
At least mid-double-digit million
Adjusted
EUR 424m
Euro increase vs. previous year • Corrected for the change of investments in relation to the
Operating FCF (Previous target: mid-double-digit million construction of the new campus at the premises in Unterföhring
Euro range around previous year figure)
P7S1 ROCE3) 10% >10%
• Mid-term target for ProSiebenSat.1 ROCE of ≥15% - to be achieved
through strict application of investment policies
≤2.5x • General financial leverage target range of 1.5 – 2.5x
Financial leverage4) 2.8x (Previous target: slightly above or at upper • Subject to business performance and excluding portfolio changes,
end of target range) previous target at or above upper end
Dividend EUR 111m 50% of adjusted net income • General dividend policy
1) Based on revenues in financial year 2020 translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less revenues of the
companies deconsolidated in 2020 – WindStar Medical at EUR 114 million and myLoc at EUR 10 million – plus pro-forma revenues for The Meet Group between January and August 2020 of EUR 173
million, also translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22); 2) Based on adjusted EBITDA in financial year 2020
translated at the exchange rates used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22) less adjusted EBITDA of the companies deconsolidated in 2020 –
WindStar Medical at EUR 23 million and myLoc at EUR 3 million – plus the pro-forma adjusted EBITDA contributions for The Meet Group between January and August 2020 of EUR 33 million, also
translated at the exchange rate used for planning purposes in financial year 2021 (EUR/USD exchange rate of around USD 1.22); 3) Please see definition of P7S1 ROCE in our annual report 2020 on
pages 81, 98; 4) Financial leverage: net debt/LTM adj. EBITDA; Note: IFRS net debt as per P7S1 definition (i.e. excluding lease liabilities and real estate liabilities) 53AGENDA
Who we are
Strategy
Financials
Segment Deep Dives
ESG
Outlook
Share
54STRONG SHARE PRICE RECOVERY OF PROSIEBENSAT.1 SINCE COVID-19 RELATED
TROUGH IN MARCH 2020
SHARE PRICE PERFORMANCE REBASED TO 100
140
130
120
110
100
90
80
70
60
50
40
RTL Group ProSiebenSat.1 DAX MDAX STOXX Media
Source: Bloomberg; as of September 15, 2021 55PROSIEBENSAT.1 SHARE
BASIC DATA SHAREHOLDER STRUCTURE IN %
Share Capital EUR 233,000,000 Mediaset S.p.A.
16.2%
Stock Exchanges Treasury Shares
Frankfurt / Luxembourg
ProSiebenSat.1
2.9% Media SE
ISIN DE000PSM7770
WKN PSM777
80.9%
Common Code 095725104 Free Float
SEDOL BCZM1B2
Note: Treasury shares are not entitled to vote nor to a dividend; Mediaset S.p.A. is including Mediaset Espana
Communication; as of September 15, 2021 56PROSIEBENSAT.1 IS CURRENTLY ACTIVELY COVERED BY
16 FINANCIAL ANALYSTS
ANALYST COVERAGE
Bank Analyst Latest recommendation
Nord LB Holger Fechner Buy
DZ Bank Armin Kremser Buy
Citigroup Nithin Pejaver Buy
Deutsche Bank Nizla Naizer Buy
Kepler Cheuvreux Conor O `Shea Buy
UBS Richard Eary Buy
M.M. Warburg Jonas Blum Buy
Société Générale Christophe Cherblanc Buy
Oddo-BHF Securities Jérôme Bodin Outperform
Exane BNP Paribas Annick Maas Outperform
J.P. Morgan Cazenove Daniel Kerven Overweight
Barclays Julien Roch Equal-weight
Morgan Stanley Omar Sheikh Equal-weight
Berenberg Bank Sarah Simon Hold
BOA / Merrill Lynch Adrien de Saint Hilaire Underperform
Credit Suisse Jo Barnet-Lamb Underperform
Recommendations in %: Buy: 69 % Hold: 19 % Sell: 12 %
As of August 31, 2021 57DISCLAIMER
This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1")
or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or
ProSiebenSat.1 Group's financial position, business strategy, plans and objectives of management and future
operations. Such forward-looking statements involve known and unknown risks, uncertainties and other
important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or
ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed
or implied by such forward-looking statements. These forward-looking statements speak only as of the date of
this presentation and are based on numerous assumptions which may or may not prove to be correct.
No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the fairness,
completeness, correctness, reasonableness or accuracy of any information and opinions contained herein.
The information in this presentation is subject to change without notice, it may be incomplete or condensed,
and it may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group.
ProSiebenSat.1 undertakes no obligation to publicly update or revise any forward-looking statements or
other information stated herein, whether as a result of new information, future events or otherwise.
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