Bastei Lübbe AG: Bastei Lübbe to close 2020 / 2021 financial year presumably better than expected
Bastei Lübbe AG / Key word(s): Change in Forecast
Bastei Lübbe to close 2020 / 2021 financial year presumably better than expected
Cologne, 21 January 2021.
Based on the preliminary figures from the Christmas season, Bastei Lübbe AG (ISIN DE000A1X3YY0) expects a significant improvement in consolidated sales and consolidated earnings for the current 2020 / 2021 financial year. Accordingly, the Executive Board now expects consolidated sales of approximately EUR 90 million for the full year instead of the previous figure of approximately EUR 85 million. Consolidated earnings before interest and taxes (EBIT) are expected to increase to between EUR 7 million and EUR 8 million. The previous forecast was for EBIT in the range of EUR 5 to 6 million. This positive development is the result of higher than expected sales contributions from new releases by bestselling authors such as Ken Follett and Dirk Roßmann, as well as increased demand for backlist titles. In addition, increased sales in the digital business, which continue to be disproportionately high compared to the market, contributed to an earnings-enhancing product mix. In addition, the cost reductions initiated since October 2020 with a view to possible Corona risks are having a positive impact on earnings.
Due to the significant improvement in earnings, the Executive Board, in consultation with the Supervisory Board, confirms its consideration of proposing a dividend payment to the Annual General Meeting as part of the long-term dividend strategy.
However, the Executive Board points out that the existing lockdown situation continues to generate high risk volatility that is difficult to predict.
The full quarterly statement as of 31 December 2020 will be published as planned on 11 February 2021. The quarterly statement will then be available online at https://www.luebbe.com/en/investor-relations/financial-reports.
|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, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1162436|
|End of Announcement||DGAP News Service|