Financial Statements 2015 Hubert Burda Media Holding Kommanditgesellschaft
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Financial Statements 2015 Hubert Burda Media Holding Kommanditgesellschaft 1 Financial Statements 2015 Hubert Burda Media Content Five-year Overview ............................................................................................................................................................................................................................................................................................................... 4 Management Report .......................................................................................................................................................................................................................................................................................................... 5 Burda in Fiscal Year 2015 ..................................................................................................................................................................................................................................................................... 5 Overall Economic Situation ............................................................................................................................................................................................................................................................... 6 Advertising Market ........................................................................................................................................................................................................................................................................................... 7 Sales Development, Net Assets and Financial Situation ................................................................................................................................................................ 11 Business Performance ............................................................................................................................................................................................................................................................................... 12 Human Resources ........................................................................................................................................................................................................................................................................................... 23 Corporate Social Responsibility ............................................................................................................................................................................................................................................... 26 Environment and Sustainability .................................................................................................................................................................................................................................................. 27 Report on Opportunities ....................................................................................................................................................................................................................................................................... 28 Risk Report .................................................................................................................................................................................................................................................................................................................. 29 Outlook ............................................................................................................................................................................................................................................................................................................................... 32 Consolidated Balance Sheet .............................................................................................................................................................................................................................................................................. 34 Notes to the Consolidated Financial Statements for Fiscal Year 2015 ...................................................................................................................................... 35 Development of Fixed Assets of the Group .............................................................................................................................................................................................................................. 45 Shareholdings .............................................................................................................................................................................................................................................................................................................................. 46 2 Financial Statements 2015 Hubert Burda Media The Management Board of Hubert Burda Media Left to right: Stefan Winners, Board Member, National Digital Brands, Holger Eckstein, Board Member, Finance, Dr. Andreas Rittstieg, Board Member, Legal and Compliance, Philipp Welte, Board Member, National Media Brands, Dr. Paul-Bernhard Kallen, Chief Executive Officer 3 Financial Statements 2015 Hubert Burda Media Five-year Overview To tablecontents of To 2011 2012 2013 2014 2015 in Operating performance 2,804 3,101 3,249 3,030 2,792 million € Consolidated sales 2,176 2,456 2,617 2,455 2,211 million € Comprised of National Digital Brands 937 1,159 1,401 1,314 1,134 million € National Media Brands 658 646 630 649 651 million € International Media Brands 385 419 378 330 265 million € Printing 189 224 204 158 158 million € Other 7 8 4 4 3 million € Balance sheet total 1,313 1,546 1,551 1,518 1,510 million € Depreciation of fixed assets 56 69 83 91 85 million € Personnel expenses 410 438 499 527 543 million € Number of employees at year’s end 8,248 9,241 10,017 10,374 10,297 4 Financial Statements 2015 Hubert Burda Media Management Report Burda in Fiscal Year 2015 – technological and entrepreneurial skills in all opera- percent and thus the earlier announced withdrawal To tablecontents of To Overview tional business divisions through strong international was nearly complete. Burda had had an interest in the networks. Promoting the further development of ex- company since 1999 and it proved to be an unusu- isting personnel and recruiting new skilled employees ally successful investment. In a contrasting move, all Hubert Burda Media (hereafter also referred to as (e.g., in the areas of digital development and program- journalism brands of TOMORROW FOCUS AG were “Burda”) is an internationally operating media and ming) are considered very important. To be able to re- combined under the newly founded BurdaForward. technology company with brands and products that act as quickly as possible to changing media use and In addition, all shares in the physician rating platform are oriented to the needs of consumers. The 2015 in contrast to conventional industrial enterprises, Bur- Jameda were acquired by TOMORROW FOCUS AG, Burda portfolio includes some 540 products in Ger- da has not bundled the development of new products effective as of January 1, 2016. TOMORROW FOCUS AG many and 19 other countries. Major sources of group in a central R&D department but conducts these ac- itself completed its targeted strategic reorientation revenues are individual sales and subscriptions (in- tivities in the respective profit centers. toward vacation travel during the fiscal year, through cluding digital subscriptions), advertising, commis- In fiscal year 2015, Burda’s external sales totaled its sale of other holdings. sions, trade and printing. Burda considers itself an €2.21 billion and were thus below the prior year. This Another focus in the expansion of digital activities was “enterprise for entrepreneurs” and is therefore organ- can be attributed to the sale of shareholdings in zo- penetration of core internet technologies – brows- ized with a decentralized profit center structure. At oplus AG in the summer of 2014, which means that ers und search engines – with in-house products. Tar- the end of the past fiscal year, the consolidated group since July 1, 2014, zooplus AG is no longer included in geted investments were also made in technologically included a total of 219 independently operating com- sales revenues. A comparison excluding zooplus AG advanced consumer internet companies, in order to panies, of which 133 were in Germany and 86 outside shows 2014 consolidated group sales of €2.21 billion, guide their growth as long-term partners. of it. At the end of the year, 10,297 individuals were so that fiscal year 2015 is at the same level as the pri- In the German magazine business (National Media employed in the Group. Hubert Burda Media is divided or year. While the performance of most divisions re- Brands Division), digital products reflecting the strong into four operational divisions: National Digital Brands, mained stable – as expected in the prior year – busi- print brands were brought to market and new busi- National Media Brands, International Media Brands ness in Eastern Europe encountered unexpectedly ness models successfully tested. This was achieved and Printing. sharp declines in sales revenues. by such means as licensing our own brands in areas Burda considers