Bastei Lübbe AG publishes quarterly results for 2014/2015

Bastei Lübbe AG / Key word(s): Quarter Results

14.08.2014 / 08:00

Bastei Lübbe AG publishes quarterly results for 2014/2015

- Sales of EUR 20.6 million and EBIT of EUR 0.5 million slightly above previous expectations

- Positive development at subsidiary Räder

- Full-year forecast confirmed: Further growth in sales and EBIT in line with previous year's level expected

Cologne, 14 August 2014 - Bastei Lübbe AG, a company listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A1X3YY0), today published its report for the first quarter of 2013/2014. The Cologne-based media company achieved sales of EUR 20.6 million in the period from 1 April to 30 June 2014. Despite a fall of around EUR 8 million compared to the corresponding period of the previous year (Q1 2013/2014: EUR 28.6 million), the Cologne media company exceeded its internal planning. The fall in sales is explained by the fact that the first quarter of 2013/2014 included a high contribution to sales and earnings by the bestseller "Inferno" by Dan Brown, published in May 2013. This accounted for around EUR 9 million in sales. Bastei Lübbe did not have any comparable bestseller in the first quarter of 2014/2015, as had already been indicated in the forecast for the 2014/2015 financial year on 30 June.

Operating earnings before interest and taxes (EBIT) fell to EUR 0.5 million in the reporting period due to the decline in sales (Q1 2013/2014: EUR 2.1 million), but were likewise better than expected. Period earnings in the first quarter of 2013/2104 amounted to EUR -70,000, compared to EUR 1.1 million the year before. For the current financial year, the executive board of Bastei Lübbe AG confirms its forecast of moderate sales growth and EBIT in line with the previous year's level.

The balance sheet total as at 30 June 2014 was EUR 119.7 million, compared to EUR 107.6 million at 31 March 2014. The share of equity attributable to shareholders of the parent company at 30 June 2014 remained unchanged from 31 March 2014 at EUR 51.5 million. The equity ratio fell as a result from 48.1% to 43.0%. The operating cash flow improved to EUR 0.11 million in the first quarter of 2014/2015 (Q1 2013/2014: EUR -0.84 million).

Sales in the "books" segment decreased to EUR 15.4 million in the first quarter of 2014/2015, from EUR 24.3 million in the previous year, due to the lack of a bestseller. Sales in the "novel booklets/puzzle magazines" segment remained largely stable at EUR 2.5 million (Q1 2013/2014: EUR 2.6 million). The "non-book" segment achieved a significant sales increase of 68.8% reaching EUR 2.7 million (Q1 2013/2014: EUR 1.6 million). In a generally downhill market environment for gift items/home accessories, the subsidiary Räder managed to buck the negative trend in the first quarter of 2014/2015, achieving a 19% increase in sales. The unmistakeable sales driver here was the new spring/autumn collection.

Bastei Lübbe AG prepared a consolidated balance sheet for the first time in the first quarter of 2014/2015. The holding in Bookrix is consolidated in the "books" segment and Daedalic is consolidated in the "non-books" segment.

The 2014/2015 financial year will be a year of development in which Bastei Lübbe AG will accelerate its digital internationalisation and will continue to expand its development into an international media company. The "books" segment is acting as a growth driver in the digital area in particular.

"We had already indicated at an early stage that our first-quarter sales and earnings would not match the level of the corresponding quarter of the previous year. However, we estimate that the lack of sales in the first quarter will be more than offset for the full year 2014/2015 by the additional revenues expected in the second and third quarters. In particular, we expect a significant contribution to sales and earnings in the further course of the year from the new book by best-selling author Ken Follett, which will be published in the second quarter of 2014/2015. Despite the investment in international expansion, we are therefore confident that we can keep EBIT at last year's levels for the full year 2014/2015," said Thomas Schierack, CEO of Bastei Lübbe AG.

The full report for the first quarter is available for download from http://www.luebbe.de/Investor-Relations/_investor_finanzberichte_en.

About Bastei Lübbe AG:
Bastei Lübbe AG is a media company operating in the form of a trade publisher. The company is based in Cologne, Germany, and has around 335 employees. In the context of its business activity, Bastei Lübbe publishes books, audiobooks, eBooks and digital products with fictional and popular scientific content as well as periodically released magazines in the form of paperback novels and puzzle books. The business activity of Bastei Lübbe also includes the licensing of rights and the development, production and distribution of gift, decorative and merchandising items. Bastei Lübbe has been almost continuously the market leader in the growing fictional hardcover sector for many years and the company was also number 1 in 2013 in fictional eBooks. Bastei Lübbe AG celebrated its 60-year anniversary in 2013, and was listed on the stock exchange. Bastei Lübbe AG shares are listed in the Prime Standard section of the Frankfurt stock exchange (WKN A1X3YY, ISIN DE000A1X3YY0)

Contact at Bastei Lübbe AG:
Barbara Fischer
Head of Press and
Event Marketing
Tel.: 0221 / 82 00 28 50
E-mail: barbara.fischer@luebbe.de

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