Key Financials of the Bertelsmann Group

Key Figures (IFRS)          
in € millions 2021 2020 2019 2018 2017
Business Development          
Group revenues 18,696 17,289 18,023 17,673 17,190
Operating EBITDA 3,241 3,143 2,887 2,586 2,636
EBITDA margin in percent1) 17.3 18.2 16.0 14.6 15.3
Bertelsmann Value Added (BVA)2) 474 355 89 121 163
Group profit 2,310 1,459 1,091 1,104 1,198
Investments3) 1,954 920 1,240 1,434 1,103
           
Consolidated Balance Sheet          
Equity 13,574 10,725 10,445 9,838 9,127
Equity ratio in percent 42.8 36.1 38.2 38.8 38.5
Total assets 31,714 29,704 27,340 25,343 23,713
Net financial debt 959 2,055 3,364 3,932 3,479
Economic debt4) 3,475 5,207 6,511 6,619 6,213
Leverage factor 1.3 1.9 2.6 2.7 2.5
           
Dividends to Bertelsmann shareholders 180 180 180 180
Distribution on profit participation certificates 44 44 44 44 44
Employee profit sharing 89 88 96 116 105


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, Bertelsmann Value Added has been calculated excluding the Bertelsmann Investments division.
3) Taking into account the financial debt assumed, investments amounted to €1,961 million (2020: €974 million).
4) Net financial debt less 50 percent of the par value of the hybrid bonds and less the short-term liquidable investment in a special fund plus pension provisions, profit participation capital and the present value of operating leases.