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Annual Report 2019
Annual Report 2019 Advance Reading Copy Subject to Modification and Amendments At a Glance 2019 Key Figures (IFRS) in € millions 2019 2018 2017 2016 2015 Business Development Group revenues 18,023 17,673 17,190 16,950 17,141 Operating EBITDA 2,909 2,586 2,636 2,568 2,485 EBITDA margin in percent1) 16.1 14.6 15.3 15.2 14.5 Bertelsmann Value Added (BVA)2) 89 121 163 180 180 Group profit 1,091 1,104 1,198 1,137 1,108 Investments3) 1,270 1,434 1,103 1,240 1,259 Consolidated Balance Sheet Equity 10,445 9,838 9,127 9,895 9,434 Equity ratio in percent 38.2 38.8 38.5 41.6 41.2 Total assets 27,317 25,343 23,713 23,794 22,908 Net financial debt 3,364 3,932 3,479 2,625 2,765 Economic debt4) 6,511 6,619 6,213 5,913 5,609 Leverage factor 2.6 2.7 2.5 2.5 2.4 Dividends to Bertelsmann shareholders 180 180 180 180 180 Distribution on profit participation certificates 44 44 44 44 44 Employee profit sharing 96 116 105 105 95 As of January 1, 2019, the new financial reporting standard IFRS 16 Leases was applied for the first time. In accordance with the transitional provisions of IFRS 16, prior-year comparatives have not been adjusted. Further details are presented in the section “Impact of New Financial Reporting Standards.” The figures shown in the table are, in some cases, so-called Alternative Performance Measures (APM), which are neither defined nor described in IFRS. -
Prospectus 2020 (March 24, 2020)
Debt Issuance Programme Prospectus dated 24 March 2020 This document constitutes the base prospectus for the purposes of Article 8(1) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, (the "Prospectus Regulation") and the Luxembourg act relating to prospectuses for securities of 16 July 2019 (Loi du 16 juillet 2019 relative aux prospectus pour valeurs mobilières et portant mise en œuvre du règlement (UE) 2017/1129) (the "Luxembourg Law") of Bertelsmann SE & Co. KGaA in respect of non-equity securities within the meaning of Article 2(c) of the Prospectus Regulation ("Non-Equity Securities"), (the "Debt Issuance Programme Prospectus" or the "Prospectus"). Bertelsmann SE & Co. KGaA (Gütersloh, Federal Republic of Germany) as Issuer EUR 5,000,000,000 Debt Issuance Programme (the "Programme") This Prospectus has been approved by the Luxembourg Commission de Surveillance du Secteur Financier (the "Commission") as competent authority under the Prospectus Regulation. The Commission only approves this Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the issuer or of the quality of the Notes that are the subject of this Prospectus. Investors should make their own assessment as to the suitability of investing in the Notes. Application has been made to list Notes issued under the Programme on the official list of the Luxembourg Stock Exchange and to trade Notes on the Regulated Market or on the professional segment of the Regulated Market "Bourse de Luxembourg". The Luxembourg Stock Exchange's Regulated Market is a regulated market for the purposes of the Market in Financial Instruments Directive 2014/65/EU, as amended (the "Regulated Market"). -
Entscheidungen Im August 2020 Und Ergebnisse Der 252. Sitzung Der KEK Zulassungen • Supreme Master TV / Supreme Master Ching Hai Deutschland E
KEK-Pressemitteilung 04/2020 • Berlin, 8. September 2020 Entscheidungen im August 2020 und Ergebnisse der 252. Sitzung der KEK Zulassungen • Supreme Master TV / Supreme Master Ching Hai Deutschland e. V. • TVR (Arbeitstitel) / Deutsches Musik Fernsehen GmbH & Co. KG Beteiligungsveränderungen • TM-TV GmbH • ProSiebenSat.1 Media SE • RTL Group S.A. • German Car TV Programm GmbH und MV Sendebetriebs- gesellschaft UG (haftungsbeschränkt) • sporttotal.tv GmbH • WeltN24 GmbH und Bild GmbH Die Kommission zur Ermittlung der Konzentration im Medienbereich (KEK) hat entschieden, dass den folgenden Zulassungen und Beteiligungsveränderungen keine Gründe der Sicherung der Meinungsvielfalt entgegenstehen: Zulassung Supreme Master TV / Supreme Master Ching Hai Deutschland e. V. Der Supreme Master Ching Hai Deutschland e.V. hat bei der Medienanstalt Berlin-Brandenburg (mabb) eine Zulassung für das bundesweite Fernsehspartenprogramm Supreme Master TV beantragt. Das Programm Supreme Master TV ist geprägt vom Leben und Wirken der Ching Hai, einer vietnamesischen Schriftstellerin, Unternehmerin und Meditationslehrerin, die in ihrem Umfeld als spirituelle Meisterin gilt. Themenschwerpunkte sind unter anderem Veganismus, Frieden, Kultur, Spiritualität, Umwelt und Gesundheit. Supreme Master TV wird bereits international über verschiedene Ausspielwege verbreitet. In Deutschland ist der Empfang über die sendereigene Website www.suprememastertv.com und über YouTube, Apple TV, Amazon Fire TV sowie Android-Smart-TV-Systeme und TikTok möglich. 1/8 Zulassung TVR (Arbeitstitel) / Deutsches Musik Fernsehen GmbH & Co. KG Die Deutsches Musik Fernsehen GmbH & Co. KG plant ein Unterhaltungsspartenprogramm unter dem Arbeitstitel TVR. Das Programm soll frei empfangbar über Satellit (Astra) und Kabel (PŸUR/Tele Columbus) erfolgen. Ein entsprechender Zulassungsantrag wurde bei der Bremischen Landesmedienanstalt (brema) gestellt. Die Deutsches Musik Fernsehen GmbH & Co. -
AXA Impact Fund – Climate & Biodiversity
For professional clients only December 2019 Impact Investing Case Study Private Markets Defining strategic impact objectives: AXA Impact Fund – Climate & Biodiversity Impact investment at AXA Investment Managers follows deepest and most diversified investment opportunity sets to a simple guiding principle—what we do should deliver generate outcomes that are intentional, measurable, and positive. impact “Addressing eroding biodiversity is a complex but This principle lies at the heart of the AXA Impact Fund - increasingly pressing challenge. Nature produces Climate & Biodiversity, our third impact fund and one elements essential to human activity and to our very focused on the ecosystems that will support our world survival, from food and shelter to medicines’ active into the future. ingredients. Moreover, diverse ecosystems are key to tackling climate change, as flourishing forests and well- preserved oceans absorb carbon emissions. Conversely, We believe that finance has a role in fostering a society that climate change accelerates biodiversity loss, creating a supports fairness and equity, as well as an environment that vicious circle. Our dependence on diverse ecosystems to can sustain our population and our investments over the long thrive, if not survive, is therefore not to be doubted.” — term. This is core to our identity, and is embedded in what Thomas Buberl – AXA Group CEO we do and in how we serve our clients. outcomes. This is why we established the AXA Impact Investing (Private The Climate & Biodiversity fund, launched in July 2019, was Equity) strategy in 2012. Our objective was to use our developed in response to increasing concerns about how institutional investing expertise to demonstrate that investors climate change threatens biodiversity. -
Bertelsmann Starts 2019 with Revenue Growth
PRESS RELEASE Bertelsmann Starts 2019 with Revenue Growth • Revenues in Q1 2019 rise to €4.21 billion, highest first-quarter revenues since 2008 • Organic growth improves to 3.5 percent • High-growth businesses show organic revenue growth of 12.8 percent • Strategic progress across all divisions • Forecast confirmed Gütersloh, May 16, 2019 – Bertelsmann has made a successful start to its current financial year: The international media, services and education company recorded improved organic growth and a significant increase in revenues in the first quarter of 2019. This positive development has been driven by the Group’s digital and high-growth businesses. Group revenues increased by 5.4 percent to €4.21 billion (prior-year quarter: €3.99 billion), the highest first-quarter revenues since 2008. Organic growth improved to 3.5 percent. Bertelsmann’s high-growth businesses performed particularly well, recording organic revenue growth of 12.8 percent. Their share of total revenue amounted to 34 percent. Bertelsmann Chairman & CEO Thomas Rabe said: “The start of this year was very promising. Bertelsmann looks back on one of its best first quarters in recent years. The strategic expansion of our high-growth businesses in recent years is increasingly bearing fruit. In the first few months of 2019, we once again made considerable progress in implementing our strategy. One focus was stepping up the establishment of collaborations, such as the Bertelsmann Content Alliance in Germany. We will continue to invest in our businesses’ creativity and entrepreneurship over the course of the year and are confident of achieving our targets for the full year.” Bertelsmann has made a number of strategic advances in recent months: RTL Group increased its digital revenues by 15.8 percent in the first quarter, to €220 million (prior-year quarter: €190 million). -
Informational Materials
This is the ‘decisive decade’ to fight climate change — and insurers need NSD/FARA Registration Unit 08/09/2021 3:54:36 PM B Sign in URL: https://money.yahoo.com/how-insmers-can-combat-climate-change-152416073.html Coronavirus Articles &'Tutorials News Career Planning yahoo/financeYahoo Finance This is the ‘decisive decade’ to fight climate change — and insurers need to play a key role Read full article Sting Thomas Buberl Retirement June 11, 2021 -5 min read https://money.yahoo.com/how-insurers-can-combat-climate-change-l524Registration Unit 08/09/2021 3:54:36 PM This is the ‘decisive decade’ to fight climate change — and insurers need NSD/FARA Registration Unit 08/09/2021 3:54:36 PM U.S. Special Presidential Envoy for Climate John Kerry greets Transportation Secretary Pete Buttigieg, not pictured, ahead of a virtual Climate Summit with world leaders in the EaSt Room at the White House in Washington, U.S., April 23, 2021. REUTERS/Tom Brenner More This is an opinion piece by Thomas Buberl, the CEO ofAXA, a Paris-based international insurance company with operations in 54 countries around the world. As a European CEO of a global company long committed to combating climate change, I have always been convinced the United States has a decisive part to play in meeting the ambitious objectives of the Paris climate agreement. The emissions pledges at the recent White House "Climate Summit of World Leaders" by President Biden and many other world leaders illustrate that these goals are now shared on both sides of the Atlantic, ahead of the key COP 26 climate negotiations in Glasgow, Scotland this November. -
TV News Channels in Europe: Offer, Establishment and Ownership European Audiovisual Observatory (Council of Europe), Strasbourg, 2018
TV news channels in Europe: Offer, establishment and ownership TV news channels in Europe: Offer, establishment and ownership European Audiovisual Observatory (Council of Europe), Strasbourg, 2018 Director of publication Susanne Nikoltchev, Executive Director Editorial supervision Gilles Fontaine, Head of Department for Market Information Author Laura Ene, Analyst European Television and On-demand Audiovisual Market European Audiovisual Observatory Proofreading Anthony A. Mills Translations Sonja Schmidt, Marco Polo Sarl Press and Public Relations – Alison Hindhaugh, [email protected] European Audiovisual Observatory Publisher European Audiovisual Observatory 76 Allée de la Robertsau, 67000 Strasbourg, France Tel.: +33 (0)3 90 21 60 00 Fax. : +33 (0)3 90 21 60 19 [email protected] http://www.obs.coe.int Cover layout – ALTRAN, Neuilly-sur-Seine, France Please quote this publication as Ene L., TV news channels in Europe: Offer, establishment and ownership, European Audiovisual Observatory, Strasbourg, 2018 © European Audiovisual Observatory (Council of Europe), Strasbourg, July 2018 If you wish to reproduce tables or graphs contained in this publication please contact the European Audiovisual Observatory for prior approval. Opinions expressed in this publication are personal and do not necessarily represent the view of the European Audiovisual Observatory, its members or the Council of Europe. TV news channels in Europe: Offer, establishment and ownership Laura Ene Table of contents 1. Key findings ...................................................................................................................... -
Press Release
PRESS RELEASE Bertelsmann Significantly Expands Its Education Business • Bertelsmann acquires 25 percent of capital shares and 46 percent of voting rights in Nasdaq-listed Afya • Based on market capitalization, Afya is Brazil’s largest education company focused on the medical field • Bertelsmann invests around €500 million Gütersloh/New York June 8, 2021 – Bertelsmann is expanding its footprint in Brazil’s fast- growing education market. The international media, services and education company is acquiring a 25-percent stake and 46 percent of the voting rights in Afya, the leading provider of medical education and training in Brazil, for the equivalent of €500 million. Bertelsmann co-founded and helped build Afya. The transaction is pending regulatory approval. Since 2017, Afya has grown its revenue by an average of 80 percent per year to €203 million in 2020. Based on market capitalization, Afya is Brazil’s largest education company focused on the medical field. Bertelsmann Chairman & CEO Thomas Rabe commented: “The acquisition of the Afya shares is of great strategic importance for Bertelsmann: It strengthens our global position in the market for education and training in the healthcare sector. It also creates another mainstay in Bertelsmann’s education portfolio alongside Relias and Alliant in the U.S. And it brings us significantly closer to our goal of generating annual revenues of one billion euros with the Bertelsmann Education division in the medium term.” Shobhna Mohn, Executive Vice President Bertelsmann Investments, said: “Afya was successfully built up in cooperation with Crescera Capital, the founding Esteves family, Afya’s management, and our Bertelsmann investment team in Brazil. -
Lessons from the Sony CD DRM Episode
Lessons from the Sony CD DRM Episode J. Alex Halderman and Edward W. Felten Center for Information Technology Policy Department of Computer Science Princeton University Abstract system called XCP that had been installed when he in- In the fall of 2005, problems discovered in two Sony- serted a Sony-BMG music CD into his computer’s CD BMG compact disc copy protection systems, XCP and drive. MediaMax, triggered a public uproar that ultimately led News of Russinovich’s discovery circulated rapidly on to class-action litigation and the recall of millions of the Internet, and further revelations soon followed, from discs. We present an in-depth analysis of these technolo- us,1 from Russinovich, and from others. It was discov- gies, including their design, implementation, and deploy- ered that the XCP rootkit makes users’ systems more ment. The systems are surprisingly complex and suffer vulnerable to attacks, that both CD DRM schemes install from a diverse array of flaws that weaken their content risky software components without obtaining informed protection and expose users to serious security and pri- consent from users, that both systems covertly transmit vacy risks. Their complexity, and their failure, makes usage information back to the vendor or the music label, them an interesting case study of digital rights manage- and that none of the protected discs include tools for unin- ment that carries valuable lessons for content companies, stalling the software. (For these reasons, both XCP and DRM vendors, policymakers, end users, and the security MediaMax seem to meet the consensus definition of spy- community. ware.) These and other findings outraged many users. -
Bertelsmann Starts FY 2021 with Ten Percent Revenue Growth in Q1
PRESS RELEASE Bertelsmann Starts FY 2021 with Ten Percent Revenue Growth in Q1 Group revenues increase to over 4.2 billion euros in Q1 2021 Organic sales growth seven percent above 2019 pre-Corona levels and ten percent above prior year 2020 Strategic progress across all eight business divisions Full-year forecast for 2021 confirmed Gütersloh, May 6, 2021 – Bertelsmann has made a successful start to 2021, reporting quarterly revenues that are significantly above both its pre-Corona level in 2019 and the previous year 2020. Group revenues increased organically by around ten percent to €4.2 billion (prior-year quarter: €4.1 billion) and by seven percent compared to the pre-Corona year. At the same time, the operating margin also improved. The Group’s publishing division Penguin Random House, the music business BMG, and the services division Arvato delivered particularly strong performances, with double-digit organic growth rates. RTL Group recorded organic growth of close to four percent. Bertelsmann Chairman & CEO Thomas Rabe said: “The first three months went very well for us fiscally. Bertelsmann increased its revenues significantly, and is now clearly above the level of the period before the outbreak of the coronavirus pandemic. Almost all divisions reported organic growth, in some cases, strong. At the same time, we made progress in implementing our corporate strategy. Further progress was made establishing national media champions, and our global content and services businesses are also well on track. We will achieve our targets for the full year.” Highlights from the divisions: RTL Group increased the number of paying subscribers to its streaming services TV Now and Videoland by 71 percent year-on-year to 2.7 million. -
BMG and KKR Join Forces to Acquire Music Rights
PRESS RELEASE BMG and KKR Join Forces to Acquire Music Rights • Compelling solution for artists and songwriters seeking to realize and grow the value of their music assets • Combines artist-centric approach with ability to invest in transactions of all sizes • Bertelsmann welcomes alliance between BMG and KKR as opportunity for growth Berlin/New York/Gütersloh, March 24, 2021 – Global music company BMG and global investment firm KKR today announced they will join forces to pursue recorded music, music publishing, and other music rights acquisitions. Working together, the companies will deliver a compelling solution for artists, songwriters, and other music rights owners seeking to realize and grow the value of their music assets. Under the terms of the agreement, BMG and KKR will join forces to source individual transactions to acquire music catalogs, bringing together BMG’s deep industry knowledge and global capabilities in maximizing value for its artists with KKR’s vast network, resources, and deep experience as an investor in market-leading music, digital, media and content businesses. The agreement to collaborate positions BMG and KKR as leading acquirers of music rights with world-class catalog management capabilities and the ability to invest in transactions of all sizes. The new relationship does not involve any transfer or sale of equity in BMG or the formation of a joint venture between KKR and BMG, which is part of the international media, services and education company Bertelsmann. Bertelsmann Chairman & CEO Thomas Rabe said: “BMG and KKR can jointly pursue opportunities for acquisitions of major catalogs of music rights from now on. -
Katherine Ryan Writer / Performer
Katherine Ryan Writer / Performer Originally from Canada, now UK based, and star of Netflix’s KATHERINE RYAN: IN TROUBLE and Comedy Central’s ROAST BATTLE and YOUR FACE OR MINE, Katherine is a writer, performer and stand-up comedian who is dominating the television and live comedy scenes – both in the UK and abroad. Britain and Canada’s first and only woman to have a worldwide Netflix special, Katherine Ryan will bring her acclaimed, total sell-out 2017/18 nation-wide tour show GLITTER ROOM to the Garrick Theatre in London’s West End. Buy tickets here. Katherine recently became the first woman to host Channel Four's 8 OUT OF CATS DOES COUNTDOWN, taking the host chair for a special episode to commemorate women’s suffrage in the UK that will air later this year. She was only the second British-based comedian (after Jimmy Carr) to have a Netflix Original Comedy Special released globally and remains the only woman from both Britain and Canada. KATHERINE RYAN: IN TROUBLE was filmed at the Hammersmith Eventim Apollo and was released to 190 countries in February 2017. Watch it here. Katherine performed a set on TBS’ THE CONAN O’BRIEN SHOW in the US to publicize the special. In July 2018, Katherine will return to her native Canada to host the 8-part series THE STAND-UP SHOW WITH KATHERINE RYAN for Canada’s The Comedy Network / Bell Media. Performances will be taped over six records at the prestigious Just For Laughs Festival Comedy Festival in Montreal, a festival of which Katherine is a veteran.