AnnuAL Report 2008 WWW.GUJ.COM | GRUNER+JAHR AG & Co KG PRODUCTION CREDITS PUBLISHER Gruner + Jahr AG & Co KG Corporate Communications Am Baumwall 11, D-20459 Hamburg PRODUCTION superVisOR Alexander Adler CONTribuTOrs Dr. Maria Hoffacker, Christina Pohl ViDEOS Sandra Harzer-Kux (Manager) TRANSLATION Larissa Stillman Wagner RealiZATION G+J Corporate Media GmbH Friesenweg 2a D-22763 Hamburg CONCEPT claim GmbH, Hamburg arT DireCTOR Ilga Tick, Square Media IllusTraTION Evan Roth phOTOGraphY Eva Häberle CONTACT FLASHDESIGN Claudia Braun PUBLISHER Gruner + Jahr AG & Co KG LITHO 4MAT Media, Hamburg Corporate Communication Am Baumwall 11, D-20459 Hamburg PriNTING APPL group of companies, aprinta druck, Wemding Phone: + 49-40/3703-0 OTher PHOTO CreDITS AP Photo: p. 69, Verena Brandt [email protected] (only in the e-annual), Corbis: p. 24, 26 t., dpa Picture-Alliance: p. 44, Cornelia Funke/PR: p. 67, André Hemstedt/Tine Reimer/ RealiZATION G+J Corporate Media GmbH Katharina Schröder: p. 68, Ralph Kerpa: p. 13, Axel Kirchhof: Friesenweg 2a p. 40 t., Klaus Knuffmann: p. 40 b., 58, Felix Seuffert: p. 57, D-22763 Hamburg 2008 Phone + 49-40/883 03-600 Alexander Straulino: p. 68 b. r., Sebastian Vollmert: p. 59 [email protected] REPORT AL NNU A 01_Cover_UmschlagCD_E_300.indd 2 20.04.2009 16:35:34 AnnuAL Report 2008 WWW.GUJ.COM | GRUNER+JAHR AG & Co KG PRODUCTION CREDITS PUBLISHER Gruner + Jahr AG & Co KG Corporate Communications Am Baumwall 11, D-20459 Hamburg PRODUCTION superVisOR Alexander Adler CONTribuTOrs Dr. Maria Hoffacker, Christina Pohl ViDEOS Sandra Harzer-Kux (Manager) TRANSLATION Larissa Stillman Wagner RealiZATION G+J Corporate Media GmbH Friesenweg 2a D-22763 Hamburg CONCEPT claim GmbH, Hamburg arT DireCTOR Ilga Tick, Square Media IllusTraTION Evan Roth phOTOGraphY Eva Häberle CONTACT FLASHDESIGN Claudia Braun PUBLISHER Gruner + Jahr AG & Co KG LITHO 4MAT Media, Hamburg Corporate Communication Am Baumwall 11, D-20459 Hamburg PriNTING APPL group of companies, aprinta druck, Wemding Phone: + 49-40/3703-0 OTher PHOTO CreDITS AP Photo: p. 69, Verena Brandt [email protected] (only in the e-annual), Corbis: p. 24, 26 t., dpa Picture-Alliance: p. 44, Cornelia Funke/PR: p. 67, André Hemstedt/Tine Reimer/ RealiZATION G+J Corporate Media GmbH Katharina Schröder: p. 68, Ralph Kerpa: p. 13, Axel Kirchhof: Friesenweg 2a p. 40 t., Klaus Knuffmann: p. 40 b., 58, Felix Seuffert: p. 57, D-22763 Hamburg 2008 Phone + 49-40/883 03-600 Alexander Straulino: p. 68 b. r., Sebastian Vollmert: p. 59 [email protected] REPORT AL NNU A 01_Cover_UmschlagCD_E_300.indd 2 20.04.2009 16:35:34 IN EURO MILLIONS 2008 Revenues 2,769 Operating EBIT 225 IN MILLIONEN EURO 2008 EBIT 170 Umsatzerlöse 2.769 Net income (before minority interests) 88 Operating EBIT 225 Cash fl ow from operating activities 221 EBIT 170 Total assets 2,171 Jahresüberschuss vor Fremdanteilen 88 Equity (incl. minority interests) 597 Cash fl ow aus betrieblicher Tätigkeit 221 Provisions and Liabilities 1,574 WITH AN INTERNATIONAL Bilanzsumme 2.171 Non-current assets 1,328 Eigenkapital (einschließlich Fremdanteilen) 597 REVENUE SHARE OF 54 Current assets 843 Fremdkapital 1.574 Personnel costs 858 PERCENT, GRUNER + JAHR Anlagevermögen 1.328 Mitarbeiter am Bilanzstichtag 14,941 Umlaufvermögen 843 IS ONE OF THE WORLD’S Personalaufwand 858 MOST INTERNATIONAL No. of employees at balance sheet date 14,941 MAGAZINE PUBLISHERS No. of employees (average) 14,779 GRUNER + JAHR in Figures Gruner + Jahr Group January 1, 2008 – December 31, 2008 2,010 198.2 1,969 2007 1,980 2007 2006 2008 180.9 176.7 2008 2006 THE PRINTED AND ONLINE MEDIA PRODUCED BY OUR 2.86 Brand Business 2006 2.83 2.77 APPROX. 15,000 EMPLOYEES REACH READERS AND 2007 2008 Holdings, Other USERS IN MORE THAN 30 COUNTRIES 100.5 892 2006 2006 821 65.4 45.9 2007 Germany 789 2007 44.0 2008 26.3 277.2 2008 2006 263.6 Europe and 2007 14,941 other Countries 224.9 14,529 14,448 2008 18.0 2008 2006 2007 France COPYRIGHT Gruner + Jahr AG & Co KG 9.8 North www.GUJ.COM/E-ANNUAL2008 America REVENUES in Euro billions GEOGRAPHICAL BREAKDOWN OF REVENUES in percent OPERATING EBIT in Euro millions NUMBER OF EMPLOYEES at G+J GROWTH IN REVENUES AND PROFITS FROM THE BRANDS BUSINESS EXTERNAL SALES in Euro millions OPERATING EBIT in Euro millions 01_Cover_UmschlagCD_E_300.indd 1 20.04.2009 17:00:54 ANNUAL REPORT 2008 WWW.GUJ.COM | GRUNER+JAHR AG & Co KG 01c_Schmutztite_E_200.indd 1 20.04.2009 16:32:25 ANNUAL REPORT 2008 WWW.GUJ.COM | GRUNER+JAHR AG & Co KG 04 FOREWORD BY THE CHAIRMAN & CEO Through the Crisis with Strong Brands 08 ELEVEN YEARS AT GRUNER + JAHR Bernd Kundrun BRANDS 12 PARENTS UNITED ELTERN Expands Internationally 16 DOMINANT ON ALL CHANNELS Programmies in France 22 THE PREMIUM NETWORKERS Digital Marketing 24 ON AN INTERNATIONAL GROWTH PATH GEO International 28 A DYNAMIC GIANT The NEWS Publishing Group 34 people3 GALA France, VOICI and VSD 38 A PERFECT PAIR GALA Germany and IN – DAS STAR & STYLE-MAGAZIN 42 THE SEISMOGRAPH BRIGITTE – A Dependable Rock in the Surf RESPONSIBILITY 50 CORPORATE RESPONSIBILITY Business, the Community, and the Environment 56 QUALITY JOURNALISM Promoting excellence, harvesting success 60 EMPLOYEES A Community of Diversity 64 CLIMATE CAMPAIGN Going Green 66 CULTURAL & SOCIAL MATTERS Citizenship FINANCIALS 72 MANAGEMENT REPORT 78 BALANCE SHEET 80 BOARDS, COMMITTEES & PARTICIPATIONS 82 THE EXECUTIVE BOARD 2008 Check out the e ANNUAL 84 CHRONICLE 1948–2008 for an animated online 88 NOTES edition of the Annual Report, including videos, more pictures and related links 93 E-annual The G+J Annual Report is also available online at www.guj.com/e-annual2008 G+J annual report 2008 Contents 2 3 Contents G+J annual report 2008 01_inhalt_GUJ_E_300.indd 2-3 09.04.2009 15:05:52 Dr. Bernd Buchholz, Chairman & CEO of Gruner + Jahr TACKLING THE CRISIS with Strong Brands Foreword to the Annual Report 2008 DEAR READERS, Gruner + Jahr is a media company Our established media brands rallied AVENUE in Germany, GALA in the with a long tradition of high publish� against this development with all their Netherlands and LIFE&STYLE in ing standards and quality conscious� strength. Some of the highlights from Russia. ness. Our successful media brands, G+J�����������������������������������’s operations in 2008 are presented In a move of unprecedented scope we the journalistic creativity of our staff in the features of this annual report. also decided to create a G+J business and prudent publishing actions in the editorial department in Hamburg, interests of our employees and share� Against the backdrop of the world which from spring 2009 produces holders have made G+����������J������� a self��������assured economic situation, G+��������J����� made G+J’s business media in Germany: and commercially robust company. substantial progress in 2008. Never� CAPITAL, IMPULSE, BÖRSE theless, the macroeconomic situation ONLINE and the FINANCIAL The task and goal of management and led to an overall downturn in �����G+J��’s TIMES DEUTSCHLAND. The employees is to uphold G+J’s position financial indicators. business media editorial offices in in the international media markets Revenues declined to 2.77 billion Cologne and Munich were closed. and to develop the company on this Euros (previous year: 2.83 billion basis. Euros), while the operating result fell G+J Germany wants to maintain the to 225 million Euros (previous year: strong brands in its business portfolio The past fiscal year marked a signifi� 264 million Euros). as quality media on a long�term, cant chapter on this path. 2008 was as full of changes as it was difficult for To ensure the future viability of our G+J.������������������������������ The emerging global economic brands, our company and to fulfill our “THESE WERE DIFFICULT crisis in 2008 put all the key markets responsibility to our employees, we in which ����������������������������G+J������������������������� operates under severe to had to make difficult and tough AND TOUGH DECISIONS dramatic pressure, and we have clearly decisions towards the end of the year. FOR US, BUT THEY felt this. We did not take these decisions lightly, and they were necessary. WERE NECESSARY.” Dr. Bernd Buchholz Because of the lack of commercial prospects, we were forced to discon� WATCH THE VIDEO IN OUR E-ANNUAL tinue magazines like VIVA and PARK G+J ANNUAL REPORT 2008 Foreword 4 5 Foreword G+J ANNUAL REPORT 2008 01_VORWORT_E_300.indd 4-5 09.04.2009 15:07:54 “WE FIRMLY BELIEVE THAT, AS A ROBUSTLY While G+J France did not manage to The print portfolio grew through a From today’s perspective we can say escape the crisis-driven developments moderate number of new launches. In that this strategy was correct. POSITIONED COMPANY, GRUNER + JAHR WILL entirely, it still managed to increase its France the monthly women’s maga- We will set further strategic corner- WEATHER THE CRISIS WELL.” profit despite a slight decline in sales. zine FEMMES was launched while in stones in the coming years and turn Fortunately Prisma Presse performed China, the parenting magazine BABY towards new growth areas in print and better in the ad sales business than its WORLD made its newsstand debut. online where we already have great competitors and was therefore able to In partnership with various licensing expertise. For example, we believe consolidate its strong market position. partners, the international GEO strongly in the growth potential of crisis-proof basis. One prerequisite for Motor Presse France acquired six family grew with new magazines in corporate publishing. Accordingly, we this is to achieve significant cost special-interest magazines from Finland and other countries. By want to drive forward the expansion reductions and share resources, while Mondadori.