Bastei Lübbe AG: Supervisory Board and Management Board adopt dividend proposal for 2016/2017 financial year

Bastei Lübbe AG / Key word(s): Dividend

27-Jul-2017 / 13:36 CET/CEST
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Bastei Lübbe AG: Supervisory Board and Management Board adopt dividend proposal for 2016/2017 financial year

Cologne, 27 July 2017. At today's Supervisory Board meeting to approve the financial statements, the Supervisory Board and Management Board of Bastei Lübbe AG resolved to propose to the Annual General Meeting on 22 November 2017 that the net profit of EUR 1.1 million be carried forward to new account. The proposal takes into account the considerable financial expenses that had an exceptional negative impact in the past financial year. Temporarily holding back on paying a dividend will safeguard the company's ability to finance its own future-oriented investments.

The Management Board views the prospects for the 2017/2018 financial year as positive. In particular, publication of new hardback novelties of books by the global best-selling authors Ken Follett and Dan Brown, expansion of the premises of BuchPartner GmbH and promising new products from Daedalic Entertainment are expected to boost the Bastei-Lübbe Group's revenue and earnings substantially in the current financial year. In view of this positive outline data, the Management Board's forecast for the current 2017/2018 financial year envisages a rise in revenue to around EUR 160 million and a significant improvement in earnings, with EBITDA expected to reach EUR 14 million to EUR 17 million.

The Supervisory Board and the Management Board are aware of their responsibility for a trust-based relationship with their shareholders. This trusting relationship is reflected in a stringent and sustainable dividend policy. In this regard, Bastei Lübbe AG pursues the goal of getting back on track with its dividends as quickly as possible.

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