Bastei Lübbe AG publishes Q1 results
DGAP-News: Bastei Lübbe AG / Key word(s): Quarterly / Interim Statement
Bastei Lübbe AG publishes Q1 results
- Consolidated revenue of EUR 28.6 million
- Group EBITDA of EUR -1.0 million
- Outlook for 2016/2017 as a whole remains positive
Cologne, 29 August 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, has published its interim report on the first quarter of 2016/2017 today. In the period from 1 April to 30 June 2016, the Cologne-based media group generated revenue of EUR 28.6 million. EUR 8.2 million comes from BuchPartner GmbH, EUR 1.7 million from Daedalic Entertainment GmbH, EUR 0.6 million from BookRix GmbH & Co. KG and EUR 0.1 million from BEAM Shop GmbH.
Due to the amendment of the scope of consolidation in consultation with the audit firm KPMG to include the investments pooled under the British Blue Sky Tech Ventures earnings before interest, taxes, depreciation and amortisation amounted to EUR -1.0 million. Earnings per share amounted to EUR -0.09 at the end of the reporting period. Blue Sky Tech Ventures will be fully consolidated retroactively - for the 2015/2016 consolidated financial statements - and from now on.
In the reporting period, Bastei Lübbe AG took another step closer to the goal of transforming from one of the largest and most traditional publishers into a broad-based multi-channel media house. For this purpose, the Group invested in high-opportunity investments. Particularly notable here is the purchase of 51 % of the shares in the leading book wholesaler BuchPartner GmbH for EUR 10.2 million. In May 2016, Bastei Lübbe AG acquired the brands "LYX" and "INK" from Egmont Verlagsgesellschaft mbH.
Existing bank credit lines were increased in connection with the investments. For example, an agreement to amend the syndicated loan agreement was concluded on 15 April 2016, increasing the existing volume from EUR 33 million to EUR 53 million. In this way, Bastei Lübbe will remain in a position to sell high-quality entertainment literature and to make the portfolio even broader and more attractive. Among other things, the new funds will also help to pre-finance newly purchased titles from prominent authors.
"We are pursuing a clear long-term strategy. This is the sound foundation from which to become a digital media company," says Bastei Lübbe AG's CEO Thomas Schierack. "With the assistance of the new funds, we can pursue our targets more flexibly and dynamically. At the same time, the expansion of the credit lines from our partner banks underscores their confidence in Bastei Lübbe AG and its sustainable growth plan."
The outlook for Bastei Lübbe AG also remains positive for 2016/2017 as a whole. The Management Board has not identified any indications of a significant change to the forecast for the 2016/2017 financial year made in the consolidated financial statements as of 31 March 2016. The resale of the oolipo shares held by Blue Sky Tech Ventures is still being taken forward. This could result in significantly positive earnings effects at Group level.
The full interim report on the first quarter of 2016/2017 is available online at https://www.luebbe.com/en/investor-relations/financial-reports.
About Bastei Lübbe AG:
Bastei Lübbe AG is an international media group based in Cologne. Its business operations focus on developing and licensing content distributed worldwide physically and digitally. The company's core business includes the traditional publishing business and the periodical puzzle magazines and novel booklets in the "Book" segment. With its twelve publishers and imprints, the group of companies currently offers approximately 3,600 titles in fiction, non-fiction and books for children and young adults. In the growing segment of hardcover fiction, the company has been the market leader in Germany for many years. At the same time, Bastei Lübbe is driving innovation in the field of digital media. As well as the production of thousands of audio and e-books, the "Digital" segment also includes holdings in the self-publishing platform "BookRix" and the renowned games publisher "Daedalic Entertainment". Bastei Lübbe AG's value chain is completed by the investment in the online shop "beam-ebooks.de" and the new and internationally unique streaming platform "oolipo".
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, Tradegate Exchange|
|End of News||DGAP News Service|