Key Financials of the Bertelsmann Group

Key Figures (IFRS)          
in € millions 2020 2019 2018 2017 2016
Business Development          
Group revenues 17,289 18,023 17,673 17,190 16,950
Operating EBITDA 3,143 2,887 2,586 2,636 2,568
EBITDA margin in percent1) 18.2 16.0 14.6 15.3 15.2
Bertelsmann Value Added (BVA)2) 355 89 121 163 180
Group profit 1,459 1,091 1,104 1,198 1,137
Investments3) 920 1,240 1,434 1,103 1,240
           
Consolidated Balance Sheet          
Equity 10,725 10,445 9,838 9,127 9,895
Equity ratio in percent 36.1 38.2 38.8 38.5 41.6
Total assets 29,704 27,340 25,343 23,713 23,794
Net financial debt 2,055 3,364 3,932 3,479 2,625
Economic debt4) 5,207 6,511 6,619 6,213 5,913
Leverage factor 1.9 2.6 2.7 2.5 2.5
           
Dividends to Bertelsmann shareholders 180 180 180 180
Distribution on profit participation certificates 44 44 44 44 44
Employee profit sharing 88 96 116 105 105


1) Operating EBITDA as a percentage of revenues.
2) Bertelsmann uses BVA as a strictly defined key performance indicator to evaluate the profitability of the operating business and return on investment. Since the financial year 2018 onward, Bertelsmann Value Added has been calculated excluding the Bertelsmann Investments division.
3) Taking into account the financial debt assumed and payments from transactions with non-controlling interests without a change of control, investments amounted to €1,717 million (2019: €1,314 million).
4) Net financial debt less 50 percent of the par value of the hybrid bonds plus pension provisions, profit participation capital and the present value of operating leases.