Financial Strategy

The primary objective of Bertelsmann’s financial policy is to achieve a balance between financial security, return on equity and growth. For this, Bertelsmann bases its financing policy on the requirements of a solid investment grade credit rating and the associated qualitative and quantitative criteria. Credit ratings and capital market transparency make a considerable contribution to the Group’s financial security and independence.

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Capital Market Orientation

The unlisted Bertelsmann SE & Co. KGaA regards itself and conducts itself as a capital market-oriented company. Bertelsmann began making use of the financing opportunities offered by the capital market via bonds and profit participation certificateslong ago, to diversify its financing portfolio and to ensure its long-term financing.

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Financial Targets

Bertelsmann utilizes a financial management system employing quantitative financial targets concerning the Group’s economic debt and, to a lesser extent, its capital structure.

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Credit Rating

A credit rating is an assessment of the creditworthiness of an issuer, called the Issuer Rating, or of a financial instrument such as bonds, known as the Instrument Rating.

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Maturity Structure

An overview of the structure and maturities of Bertelsmann's financial liabilities can be found in the maturity profile.

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Credit Facilities

In addition to available liquidity, the Bertelsmann Group has access to a syndicated credit facility with 15 banks. This credit facility that was unutilized as of December 31, 2023, forms the backbone of the strategic credit reserve; Bertelsmann can utilize this with a term until 2026 to draw up to €1.2 billion of revolving funds in euros and US dollars.