Key figures

KEY FIGURES OF PROSIEBENSAT.1 GROUP in EUR m
	2019	2018
Revenues	4,135	4,009
Revenue margin before income taxes (in %)	13.8	8.6
Total costs	3,592	3,710
Operating costs¹	3,297	3,027
Consumption of programming assets	958	1,319
Adjusted EBITDA²	872	1,013
Adjusted EBITDA margin (in %)	21.1	25.3
EBITDA	838	570
Reconciling items³	– 34	– 443
Operating result (EBIT)	578	348
Adjusted EBIT	684	850
Financial result	– 6	– 4
Result before income taxes	572	344
Adjusted net income⁴	387	541
Net income	412	250
Net income attributable to shareholders of ProSiebenSat.1 Media SE	413	248
Net income attributable to non-controlling interests	– 1	1
Adjusted earnings per share (in EUR)	1.71	2.36
Payments for the acquisition of programming assets	1,072	1,070
Free cash flow	207	– 78
Cash flow from financing activities	– 294	– 468
Free cash flow before M&A	339	244

12/31/2019

12/31/2018

¹	Total costs excl. expense adjustments, depreciation, amortization, and impairments.
²	EBITDA before reconciling items.
³	Expense adjustments less income adjustments.
⁴	Net income attributable to shareholders of ProSiebenSat.1 Media SE before the amortization and impairments from purchase price allocations, adjusted for the reconciling items. These include valuation effects recognized in other financial result, valuation effects of put-options and earn-out liabilities, as well as valuation effects from interest rate hedging transactions. Moreover, the tax effects resulting from such adjustments are also adjusted. Annual Report 2018, page 85.
⁵	Full-time equivalent positions as of reporting date.
⁶	Ratio net financial debt to adjusted EBITDA in the last twelve months.

Employees⁵

7,253

6,583

Programming assets

1,204

1,113

Equity

1,288

1,070

Equity ratio (in %)

19.5

16.5

Cash and cash equivalents

950

1,031

Financial debt

3,195

3,194

Leverage ratio⁶

2.6

2.1

Net financial debt

2,245

2,163