Bastei Lübbe AG publishes half-year report 2018/2019: "Return to calmer waters"
- Consolidated revenue at EUR 46.5 million
- Group EBIT improved
- Outlook confirmed for 2018/2019 as a whole
Cologne, 15 November 2018 - Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, today publishes its half-year report for the period from 1 April to 30 September 2018.
In the first half of 2018/2019, the Cologne-based publisher steeped in tradition generated consolidated revenue of EUR 46.5 million after EUR 69.1 million in the first half of the previous year. Adjusted for the discontinued "Retail" segment (BuchPartner GmbH), revenues declined by around 15% as a result of the programme-related fluctuations in the "Book" and "Digital" segments which are typical for the business.
The LYX imprint, under which Bastei Lübbe publishes contemporary entertainment for women, recorded a gratifying development. Based on strong sales figures of the novels of best-selling author Mona Kasten, revenue of LYX doubled.
In the reporting period, balanced Group earnings before interest and taxes (EBIT) were achieved (EUR -39 thousand) after a negative EBIT in the amount of
EUR -263 thousand was generated in the previous year.
Including income taxes, Bastei Lübbe Group generated net profit for the reporting period of EUR -0.7 million after EUR -2.0 million in the previous year.
Cash flow from operating activities developed positively. As of the end of the first half of 2018, cash flow improved from EUR -3.1 million to EUR 2.3 million.
The Management Board confirmed the guidance for the current 2018/2019 financial year. Consolidated revenue is expected to amount to approximately EUR 95 million. Although earnings for the first half of the year were at the lower end of the internal range of expectations, the Management Board expects EBIT for the 2018/2019 financial year as a whole will at least reach the lower end of the forecast range from EUR 0.5 million to EUR 2 million assuming business develops according to plan in the second half of the year and in particular over the Christmas period.
"We are clearly returning to calmer waters. Revenue and earnings are roughly in line with internal planning and are based on the successfully initiated restructuring. However, this is not yet concluded and requires further impetus. Thus, in the next weeks, we will be strengthening our personnel by adding a new position, "Head of Program Strategy", who will report directly to the Management Board. In addition, we are looking for interesting growth options that will significantly expand our label and programme portfolio over the next three years," said Carel Halff, CEO of Bastei Lübbe AG.
The half-year report 2018/2019 is available to download at www.luebbe.com.
About Bastei Lübbe AG:
Bastei Lübbe AG is a German publishing house with headquarters in Cologne specialising in the publication of books, audio books and e-books with fiction and popular science content. The company's core business also includes the periodically published puzzle magazines and novel magazines. With its total of twelve publishing houses and imprints, the company group currently offers around 3,600 titles in the areas of fiction, non-fiction as well as books for children and young adults. In the growing segment of hardcover fiction books, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is an engine for innovation in the area of digital media and distribution channels, among other things by the production of thousands of audio and eBooks. This includes the stake in the renowned game publisher "Daedalic Entertainment".
With annual sales of approx. 107 million euros (financial year 2017/2018), Bastei Lübbe AG is one the largest medium-sized publishing companies in Germany. The shares of the company have been listed in the Prime Standard segment on the Frankfurt stock exchange (GSIN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information is available at www.luebbe.com.
Contact Bastei Lübbe AG:
Head of Press and Public Relations
Tel.: 0221 / 82 00 28 50
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