We provide a unique combination of content, commerce and operational excellence which drives the exceptional development of our portfolio.
We shape Europe’s digital landscape by leveraging our operational know how, our synergies with the ProSiebenSat.1 Group and our investment expertise.
We create valuable impact for our portfolio companies with our passionate, energetic, and collaborative team.
We are a majority-owned subsidiary of ProSiebenSat.1 Media SE,
one of Europe’s leading media companies and Germany’s biggest TV network.
Since 2018, General Atlantic as one of the leading global growth equity firms
has also invested a significant stake in the NUCOM GROUP.
Through leveraging ProSiebenSat.1’s media power and expertise
combined with General Atlantic’s operational and investment excellence,
we accelerate the strong growth path of our portfolio companies
and create superior value both for investors and our portfolio companies.
Our value add: We ensure best-in-class performance by connecting our portfolio experts, measuring comparable KPIs to identify potentials, defining actions and ensuring improvements.
Our diversified portfolio combines multiple market leading
consumer services and lifestyle brands across
different distribution channels.
We are a highly enthusiastic team of exceptional leaders
with decades of experience in the digital and
Munich, February 22, 2018. ProSiebenSat.1 Group, one of the largest independent media companies in Europe, is entering a long-term partnership with General Atlantic, a leading global growth equity firm, to help drive the strategic development of its Commerce business. ProSiebenSat.1 Group formed NCG – NuCom Group on January 1, 2018, which will unite ten strategic investments from its Commerce business – including Verivox, Parship Elite Group and Jochen Schweizer mydays Group. General Atlantic’s investment will give it a 25.1 percent stake in NuCom Group, based on an enterprise value of EUR 1.8 billion.
NuCom Group will benefit from the broad TV reach of ProSiebenSat.1 Group and from mutual synergies – for instance, in the field of data and technology. With General Atlantic as a partner, ProSiebenSat.1 will develop NuCom Group into a leading European omnichannel platform for consumer services and lifestyle brands. The Executive Board of NuCom Group consists of Claas van Delden, Dr. Florian Tappeiner and Dr. Dirk Schmelzer.
This new partnership underlines the growth objectives pursued by ProSiebenSat.1 for the Commerce segment. Drawing on 37 years of experience investing in global growth companies, General Atlantic has deep expertise in the Internet & Technology sector. The two companies have already cooperated on the joint acquisition of KäuferPortal in 2016 and are now further expanding this collaboration.
Thomas Ebeling, CEO of ProSiebenSat.1 Media SE, says: “With General Atlantic, we have found the perfect partner for our commerce business and kicked off the expansion of our portfolio and the further acceleration of growth in this area. As I come to the end of my time at ProSiebenSat.1, this transaction is an important milestone for me.”
Conrad Albert, Deputy Chairman of the Executive Board of ProSiebenSat.1 Media SE and Group General Counsel: “Within six years we developed a unique portfolio of market leading companies. In 2017, theCommerce business delivered another year of growth, contributing to more than 30 percent in revenue growth. The new partnership with General Atlantic is an important anchor point for the success of our three-pillar strategy.”
Dr. Jan Kemper, CFO of ProSiebenSat.1 Media SE and Member of the Executive Board for Commerce: “With General Atlantic, we have found an ideal partner for NuCom Group. Together, we will drive the profitable growth of NuCom Group even further and develop the company into a leading Commerce provider in Europe. I look forward to accompanying NuCom Group on this journey.”
Jörn Nikolay, Managing Director and Head of General Atlantic Germany: “The impressive revenue and earnings development of NuCom Group over the past years speak to the quality of the business model. ProSiebenSat.1 has done successful pioneer work here and has built a portfolio with strong growth potential. We will bring our long-time, global expertise in the strategic development of growth companies into this partnership and will contribute to the profitable growth of NuCom Group.”
First joint transactions
In a first joint transaction, NuCom Group is acquiring the shares held by Oakley Capital and other shareholders in Verivox and Parship Elite Group, whereby the share ownership increases to almost 100 percent and around 94 percent, respectively. In addition, NuCom Group is also acquiring the outstanding minority interests in SilverTours GmbH (billiger-mietwagen) and will own 100 percent of the company once the transaction is complete. With these acquisitions, ProSiebenSat.1 and General Atlantic demonstrate the strategic orientation for NuCom Group: ownership and control of the Commerce businesses will be streamlined and consolidated. The goal of NuCom is also to utilize the strength of ProSiebenSat.1 Group through the combination of reach, own data, collaborations, and various distribution channels even more for building brands.
The transaction with General Atlantic is subject to approval by the responsible antitrust authorities. JP Morgan acted as the financial advisor to ProSiebenSat.1. Goldman Sachs acted as the financial advisor to General Atlantic.
About NuCom Group
In NuCom Group, ProSiebenSat.1 is uniting the Commerce business of the Group. The investment portfolio of NuCom Group consists of companies that are leading in their segments. These include Amorelie, billiger-mietwagen.de, Flaconi, Jochen Schweizer mydays Holding, KäuferPortal, moebel.de, Parship Elite Group, Stylight, Verivox and Windstar Medical. NuCom Group generated more than 650 million Euro revenues in 2017. Through the combination of the organic growth of the investments and other strategic acquisitions, NuCom Page Group is planning to become a leading European omnichannel platform for consumer services & lifestyle brands.
ProSiebenSat.1 Group is one of the most successful independent media companies in Europe with a strong presence in the TV and digital markets. Free TV financed by advertising is the core business of the Group. The station family comprising SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. The Group has tapped into an additional attractive business area through the distribution of its television channels in HD quality. At the same time, the Group successfully networks the wide reach of its TV business with a strong digital unit. Already today, ProSiebenSat.1 is Germany’s leading video marketer on the Internet and with maxdome or Studio71 one of the most successful providers of digital entertainment. ProSiebenSat.1 has also built up a successful e-commerce business of digital platforms in recent years, which is now one of the Group’s most important growth drivers. This broadcasting, digital entertainment and commerce portfolio is supplemented by Red Arrow, an international production and distribution network. The headquarters of ProSiebenSat.1 are in Unterföhring near Munich. The entity was founded in October 2000 and today employs a workforce of around 6,000 people. The ProSiebenSat.1 share has been listed in the leading DAX index since March 2016.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 110 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.
FORWARD LOOKING STATEMENTS
This release contains “forward-looking statements” regarding ProSiebenSat.1 Media SE (“ProSiebenSat.1”) or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1’s or ProSiebenSat.1 Group’s financial position, business strategy, plans and objectives of management and future operations. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1 Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this presentation and are based on numerous assumptions which may or may not prove to be correct.
No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1 undertakes no obligation to publicly update or revise any forward-looking statements or other information stated herein, whether as a result of new information, future events or otherwise.
Contact ProSiebenSat.1 – NuCom Group
Phone: +49  95 07-2598
Head of Communication Sales & Digital
Phone: +49  95 07-8920
Contact General Atlantic
Perfect Game Communications for General Atlantic
Tel.: +49 (0) 89 30 90 52 95-0
Edelman for General Atlantic
Munich, December 6, 2017. ProSiebenSat.1 Group will continue its successful diversification strategy and now realizes over 50% of its revenues outside the traditional TV advertising business. To further accelerate this successful transformation, the Group will, as of January 2018, have a new organizational setup with the three business areas of Entertainment, Content Production & Global Sales and Commerce. The aim is to adapt the Group to the dynamically changing environment and to secure further sustainable, profitable growth. By combining the linear TV business with the Digital Entertainment division, ProSiebenSat.1 is able to provide increasingly platform-independent offers and universal marketing of programming content, thus achieving additional synergies in this area. In the process of this new setup, the Group wants to achieve a net savings potential of over EUR 50 million by 2019/2020. Including further investments in program and in areas such as AdTech and Data, this will lead to an improved cost development in the Entertainment segment.
Thomas Ebeling, CEO of ProSiebenSat.1 Media SE, said: “ProSiebenSat.1’s growth story has been uninterrupted for 32 consecutive quarters. We are one of the most profitable media companies in Europe and with revenues in the digital business areas exceeding EUR 1 billion, we have also become a relevant player in this field. All this was only possible because we have been systematically driving the transformation and diversification of the Company since 2009. With the three-pillar strategy, we are setting ProSiebenSat.1 up competitively for the future, strengthening the Group for further growth and creating additional value for employees and shareholders. Our management team and Supervisory Board have jointly developed this strategy in the last months. I am convinced that ProSiebenSat.1 will continue its sustainable success in the future with this new structure.”
In the Entertainment business, the areas of TV Broadcasting, Distribution, Advertising Platform Solutions (AdTech), SevenVentures and Digital Platforms (e.g. maxdome, 7TV app) will be combined. Thus, ProSiebenSat.1 will be able to offer its viewers even better all the Group’s entertainment content across all its media platforms. At the same time, the Company is increasingly investing in the growth areas of Addressable TV, AdTech and Data in order to access additional revenues in the advertising market through innovative, data-driven offerings. The Group also sees potential for value creation in Europe via partnerships within the European Media Alliance, in which twelve media companies from all over Europe are already working together.
Content Production & Global Sales
ProSiebenSat.1 is bringing together the Red Arrow Entertainment Group with the multi-channel network (MCN) Studio71 under the name Red Arrow Studios and is integrating digital video offers into the traditional production business as well as into its international distribution networks. Via Studio71, the production business thus gains direct access to a new talent pool and other growing digital channels. In this way, the Content Production business addresses the increasing demand for content on all platforms, branded content and influencer marketing. The Company will make optimal use of the synergies between the 21 production companies, the distributors Red Arrow Studios International and Gravitas Ventures, as well as Studio71, one of the leading MCNs with 8 billion video views per month. ProSiebenSat.1 is also examining a further acceleration of growth for Red Arrow Studios through cooperation with and co-investments by partners.
In the Commerce business, ProSiebenSat.1 will operate as NCG – NUCOM GROUP and will bundle its subsidiaries in four categories: Home Services & Mobility (Verivox, billiger-mietwagen.de, Käuferportal), Leisure & Relationships (mydays/Jochen Schweizer, Parship Elite Group, Amorelie), Health & Beauty (Flaconi, Windstar Medical) and Style (moebel.de, Stylight). For the online travel business with package tours (weg.de/tropo) remaining after the sale of etraveli, ProSiebenSat.1 is continuing its review process for a potential sale.
Currently, ProSiebenSat.1 is in talks with potential partners regarding a minority investment in the NCG – NUCOM GROUP. The objective is to expand the portfolio and to further accelerate growth in the commerce area. It is expected that the talks relating to potential partnerships will be concluded in the course of the second quarter of 2018.
Acquisitions remain a key driver for further profitable growth
The successful acquisition strategy of ProSiebenSat.1 creates value and has significantly contributed to the development of the Group over the last few years. This is shown by the unchanged attractive return on the capital invested in the existing M&A portfolio as well as by the successful sale of the online travel agency etraveli.
Dr. Jan Kemper, CFO of ProSiebenSat.1 Media SE, said: “We will continue to successfully invest especially in commerce companies in the future and open up new customer groups for them through our cross-media distribution possibilities.
We have a proven track record for many years that we can successfully create additional value for the Group besides the traditional media business.”
Outlook for 2017 and dividend policy confirmed
ProSiebenSat.1 is confirming its outlook for the 2017 financial year and continues to anticipate Group revenues to grow by a mid-single digit percentage range. The Group continues to expect adjusted EBITDA and adjusted net income to slightly exceed the previous year’s level, respectively. The Group is also maintaining its dividend policy with a dividend payout ratio of 80% to 90% of underlying net income.
New medium-term growth targets
Additionally, ProSiebenSat.1 is transferring its existing financial targets for 2018 into new medium-term target ranges for both revenue growth and margins. The Company anticipates to continue profitable growth in the future and aims at a medium-term revenue increase in the mid-single digit percentage range. Based on these growth assumptions, ProSiebenSat.1 also expects to achieve revenue growth of more than EUR 1 billion by 2022 compared to 2017. It is expected that future larger bolt-on acquisitions would additionally raise the planned revenue growth. At the same time, the Group anticipates in the medium term a further increase of operating earnings and a profitability in the mid 20 percent range based on the adjusted EBITDA.
Pro forma revenues1)
Q3 2017 (last 12
months) in EUR m
|Content Production &
mid 20 percent
1) Pro-forma revenues including the acquisitions of ATV, Gravitas Ventures and Jochen Schweizer, less the sold company etraveli.
ProSiebenSat.1 Group is entering a long-term partnership with General Atlantic, a leading global growth equity firm, to help drive the strategic development of its Commerce business.
ProSiebenSat.1 Group will continue its successful diversification strategy and now realizes over 50% of its revenues outside the traditional TV advertising business.
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