Combined Management Report

Financial Year 2016 in Review

In 2016, Bertelsmann continued its successful operating business performance and made further progress with the implementation of its strategy. Despite some adverse exchange rate and portfolio effects, Group revenues were €17.0 billion (previous year: €17.1 billion), thanks to increased organic growth of 0.9 percent. The growth was generated in particular by the TV, music, services and education businesses. The revenue share generated by the growth businesses increased further to 30 percent (previous year: 28 percent). Despite start-up losses for digital and new businesses, which, for Bertelsmann Education Group and RTL Group alone, amounted to €-71 million in total (previous year: €-52 million), operating EBITDA reached a record level of €2,568 million (previous year: €2,485 million). The increase in operating result was primarily attributable to the TV, music and services businesses. In view of the positive business performance and lower effects of special items, Group profit increased by 2.6 percent to €1,137 million. Total investments, including assumed financial debt, in the reporting period were €1.2 billion (previous year: €1.3 billion). For 2017, Bertelsmann expects positive business performance and continued progress with the implementation of its strategy.

Revenues in € billions

Revenues in € billions
  • Organic growth of 0.9 percent
  • Revenue decline of 1.1 percent as a result of exchange rate and portfolio effects

 

Operating EBITDA in € millions

Operating EBITDA in € millions
  • Operating EBITDA reaches a record level despite start-up losses for digital and new businesses
  • EBITDA margin increased to 15.1 percent

 

Group Profit in € millions

Group Profit in € millions
  • Growth of Group profit of 2.6 percent despite higher tax expenses
  • Improved operating result
  • Lower impact of special items