This is why, the year-prevent power ratio of 2. Even with dividend payments off in total around three hundred billion for the last four years, brand new group's online financial obligation fell from the nearly 700 million, and that in the a difficult macroeconomic environment with assorted crisis. And just have, the modified EBITDA has actually , you will find was able to continue the financial control ratio so much more or shorter stable. That it shows it absolutely was and it will enter the fresh new coming the priority to put the business on a substantial long-title economic base.
Besides of a web debt but also of a control position. We are believing that this method at some point work for the shareholders who will participate in a high express of the businesses enterprise worth. Which have told you this, i want to today get real Webpage several to the bonus suggestion on the up coming Yearly General Appointment, which takes set at the end of April this year. Once i just mentioned, keeping a very good monetary reputation will stay certainly one of our trick monetary administration expectations. Last year, i communicated you to in addition to the standard economic environment, we repaid variety of attention to the right level of net personal debt and you will monetary leverage whenever deciding withdrawals so you can investors. And we'll also consider the have to dedicate in the market, for instance the summation out of strategic progress solutions, especially in the fresh new key entertainment organization.
Against this history, we, the Government Board, using the Supervisory Board, decided to decide to brand new Yearly General Meeting once more a bonus regarding 0. It offer requires sort of membership to the fact that the economic leverage is expected nevertheless becoming above the higher end out-of the brand new targeted a number of step 1. Sufficient reason for which, I wish to avoid my an element of the demonstration and you may surrender to help you Bert.
And also as a side notice, Let me speak about that people should keep in mind you to definitely i've rather smaller the web Lyon women sexy debt over the past five age
Bert Habets: Thank you so much, Martin, for these information. Let's now continue an improvement to the businesses. Let us earliest see the general adverts field in the past 12 months. When we glance at the full season 2023, extremely areas was indeed below past season. That it underlines the newest concern of the greater adverts market, which was considering the burdened macroeconomic environment. Still, there are an optimistic development throughout the extremely marketplace throughout the last one-fourth. Many, included in this, the brand new clean, gadgets in addition to dinner world improved their advertisements paying to the the end of the season somewhat. The tricky macroeconomic environment, again, influenced our very own Television key ads profits for the 2023pared so you can 2019, the year until the episode of your COVID-19 pandemic, we filed a drop about three-hand million euro assortment.
So you can counterbalance it decline, we are much more investing the electronic and you will wise advertising portfolio
And also this has been the primary reason towards decrease in our very own earnings since then. In so doing, we partially make up for the fresh lowering of the new linear Television adverts. Particularly, digital and you may wise ads incomes regarding the Italian language-talking . So it represents the average increase out of 9% over the last four years and you can underpins the truth that all of our perform to digitize new activity team was basically successful, even in a deep failing adverts industry environment. Because of the constant development of all of our digital and you can wise adverts income, the brand new express away from full adverts revenues on DACH area is now 16%. Our company is very certain that we can notably improve the share then into growth of Joyn addressable and you may programmatic adverts profits on television, including all of our podcast company.