Bastei Lübbe AG publishes report on first nine months of 2015/2016: Sales and earnings in line with forecasts
DGAP-News: Bastei Lübbe AG / Key word(s): 9-month figures
Bastei Lübbe AG publishes report on first nine months of 2015/2016:
- Consolidated revenue reaches EUR 79.4 million (previous year: EUR 86.8 million)
Cologne, 15 February 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, presented its nine-month report for the period from 1 April to 31 December 2015 today. In the reporting period, the Cologne-based media group generated revenue of EUR 79.4 million after EUR 86.8 million in the previous year. The decline in sales of EUR 7.4 million is partly due to the deconsolidation of the investments in oolipo AG (formerly BEAM AG) and Daedalic Entertainment GmbH, but also partly results from the fact that book sales were down on the comparable sales figure from the previous year. This is because the bestseller "Edge of Eternity" by Ken Follett had contributed very high sales in Christmas business in the 2014/2015 financial year. As expected, the blockbusters in the current financial year, the new novels by Rebecca Gablé and Sebastian Fitzek, did not quite match these sales.
Group EBITDA improved to EUR 14.0 million in the reporting period after EUR 11.4 million in the same period of the previous year. Earnings in the first nine months of the current financial year were positively influenced by income from the transitional consolidation of Daedalic Entertainment GmbH (EUR 6.4 million in the "Digital" segment), partly offset by the deconsolidation loss of Präsenta (EUR 1.4 million in the "Non-Book" segment) and payments to former members of the Management Board. Group EBIT climbed to EUR 11.8 million after EUR 9.3 million in the previous year. Net profit for the period reached EUR 8.4 million after EUR 5.1 million in the previous year. Earnings per share increased to EUR 0.63 in the first nine months of 2015/2016 after EUR 0.38 in the same period of the previous year.
In the first nine months of 2015/2016, the "Book" segment posted a decline in revenue to EUR 39.7 million as expected after EUR 46.5 million in the comparative period of the previous year. This decrease is due chiefly to the fact that fewer blockbusters were offered in Christmas business as compared to the previous year. In the reporting period, the "Novel Booklets and Puzzle Magazines" segment generated revenue of EUR 7.2 million after EUR 7.9 million in the previous year. The "Non-Book" segment generated a significant increase in revenue to EUR 12.8 million after EUR 10.6 million in the previous year. Revenue in the "Digital" segment fell to EUR 19.9 million in the first nine months of 2015/2016 after EUR 21.8 million in the comparative period of the previous year. This was particularly due to the deconsolidation of the investment in Daedalic Entertainment GmbH.
In the reporting period, total assets decreased slightly from EUR 124.3 million as of 31 March 2015 to EUR 123.7 million as of 31 December 2015. Equity after non-controlling interests increased to EUR 62.4 million as of 31 December 2015 after EUR 60.7 million as of 31 March 2015. The dividend payout of roughly EUR 4 million was more than offset by the net profit for the period of approximately EUR 8.4 million.
The Management Board continues to view the prospects for the current 2015/2016 financial year as positive. The "Digital" segment is performing in line with expectations. It should be noted that the revenue of Daedalic Entertainment GmbH will no longer be allocated to this segment in future because of its deconsolidation in September 2015. For the 2015/2016 financial year as a whole, the Management Board anticipates consolidated revenue in the region of EUR 105 million and Group EBITDA of approximately EUR 15 million. In addition to the lower level of sales, the expected slight year-on-year decline in EBITDA, which is nonetheless in line with planning, is also attributable to start-up costs in the Digital segment, particularly including investments in oolipo AG.
"Our entertainment portal oolipo, the world's first streaming platform for reading serial content especially for smartphones and tablets, is developing according to plan," explains Thomas Schierack, CEO of Bastei Lübbe AG. oolipo AG has now presented the first beta version of the software. This will now be tested in a small group. The public launch of oolipo is scheduled for summer/autumn this year. Negotiations with other publishers regarding the supply of content are soon to be concluded. In addition, negotiations are being held with foreign media companies with regard to expanding oolipo to other countries.
The full quarterly report for 2015/2016 is available online at https://www.luebbe.com/de/investor-relations/finanzberichte.
About Bastei Lübbe AG:
With currently 334 employees and an annual turnover of roughly EUR 110.2 million (financial year 2014/2015), Bastei Lübbe AG is the largest medium-sized family company in the German publishing industry. Since 2013, the company's shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0). Further information is available at www.luebbe.de.
Contact Bastei Lübbe AG:
|Company:||Bastei Lübbe AG|
|Schanzenstraße 6 - 20|
|Phone:||02 21 / 82 00 - 0|
|Fax:||02 21 / 82 00 - 1900|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart|
|End of News||DGAP News Service|