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Financial Statements 2018 Hubert Burda Media Holding Kommanditgesellschaft Content Financial Statements 2018 Hubert Burda Media Holding Kommanditgesellschaft Content Five-Year Overview ......................................................................................................................................................................................................................................................................................................................................... 4 Group Management Report ............................................................................................................................................................................................................................................................................................................ 5 Group Fundamentals .............................................................................................................................................................................................................................................................................................................. 5 Economic Report .......................................................................................................................................................................................................................................................................................................................... 7 Overall economic and industry situation ......................................................................................................................................................................................................................... 7 Business development ................................................................................................................................................................................................................................................................................ 11 Sales development, net assets and financial situation ........................................................................................................................................................................... 28 Human Resources ..................................................................................................................................................................................................................................................................................................................... 30 Burda Takes Responsibility ........................................................................................................................................................................................................................................................................................ 32 Environment and Sustainability ........................................................................................................................................................................................................................................................................... 33 Outlook, Opportunities and Risk Report ............................................................................................................................................................................................................................................. 34 Report on opportunities .............................................................................................................................................................................................................................................................................. 34 Risk report .......................................................................................................................................................................................................................................................................................................................... 37 Outlook .................................................................................................................................................................................................................................................................................................................................... 41 Consolidated Balance Sheet ........................................................................................................................................................................................................................................................................................................ 42 Notes to the Consolidated Financial Statements ..................................................................................................................................................................................................................................... 43 Development of Fixed Assets of the Group ........................................................................................................................................................................................................................................................ 53 Shareholdings ........................................................................................................................................................................................................................................................................................................................................................ 55 Financial Statements 2018 Hubert Burda Media The Management Board of Hubert Burda Media Left to right: Martin Weiss (International), Holger Eckstein (Finance), Philipp Welte (National Media Brands), Stefan Winners (National Digital Brands), Dr. Paul-Bernhard Kallen (CEO), Dr. Andreas Rittstieg (Legal and Compliance) 3 Financial Statements 2018 Hubert Burda Media Five-Year Overview 2014 2015 2016 2017 2018 in To tablecontents of To Operating performance 3,030 2,792 2,822 3,234 3,208 million € Consolidated sales 2,455 2,211 2,256 2,672 2,664 million € Comprised of National Digital Brands 1,314 1,134 1,180 1,403 1,471 million € National Media Brands 649 651 661 670 651 million € International Media Brands 330 265 272 455 413 million € Printing 158 158 134 130 116 million € Other 4 3 9 14 13 million € Balance sheet total 1,518 1,510 1,566 1,874 1,827 million € Depreciation of fixed assets 91 85 80 125 122 million € Personnel expenses 527 543 535 657 691 million € Number of employees at year end 10,374 10,297 10,440 11,918 12,369 4 Financial Statements 2018 Hubert Burda Media Group Management Report Group Fundamentals the Group, which it ensures through clear, reliable At the end of the past fiscal year, the consolidation group To tablecontents of To guidelines and regular opportunities to exchange in- included a total of 256 companies, 146 of which were in formation. There are centralized shared services and Germany and 110 outside of it. At the end of the year, Hubert Burda Media (hereafter also referred to as central corporate units including Accounting & Tax, 12,369 individuals were employed in the Group. “Burda”) is an internationally operating media company Procurement, Legal and Compliance, and Corporate with a strong focus on technological innovations. Burda’s Communications that perform functions reserved for In addition to a central holding and services division, goal is to become the market leader in its various target the holding company. Hubert Burda Media is divided into four operational divi- markets or, as the case may be, to secure that leading sions: National Digital Brands, National Media Brands, position through long-term growth. Burda wants to do more than just keep pace with highly International Media Brands and Printing. In fiscal year dynamic changes in the media business: It wants to 2018, the Group’s external sales reached €2.7 billion, All of Burda’s products focus every day on consumers’ actively shape them itself. With this goal in mind, Burda which remained stable at about the previous year’s level, needs and on helping them in their personal lives and in is consistently strengthening technological and entrepre- falling short of the predicted slight increase in revenue. achieving their own goals. Burda’s portfolio in 2018 included neurial skills in all operational business divisions, assisted roughly 600 products in Germany and 17 other countries. by the strong international networks that were created The National Digital Brands division was able to achieve rev- through the world-renowned DLD conferences and other enue growth of 4.9 percent. Once again, Xing posted the Significant revenue sources for the company include retail activities. strongest growth in 2018, due in large part to a strong and sales (individual products, subscriptions and e-commerce), successful expansion in the area of e-recruiting. The two commission models (revenue shares as with HolidayCheck, One key prerequisite for Burda’s continued success lies e-commerce retailers Cyberport and Computeruniverse were for example), advertising and B2B services (such as in the ability to promote further development of existing the most successful digital companies in terms of sales. In BurdaDruck, for example). personnel and recruit and retain qualified new employees. 2018, the physician rating platform Jameda further expan- In 2018, the HR – Next Level strategic project focused on ded its market-leading
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