Bastei Lübbe AG: Preliminary sales and earnings figures of Bastei Lübbe AG in fiscal year 2020/2021 above expectations - higher EBIT margin expected
DGAP-News: Bastei Lübbe AG / Key word(s): Preliminary Results/Change in Forecast
Preliminary sales and earnings figures of Bastei Lübbe AG in fiscal year 2020/2021 above expectations - higher EBIT margin expected
Cologne, 27 April 2021 - Yesterday, Bastei Lübbe, one of Germany's largest trade publishers, published an ad hoc announcement due to its preliminary revenue and EBIT figures in the 4th quarter of fiscal year 2020/2021 (January to March 2021) exceeding expectations.
Accordingly, the Cologne-based publishing house increased sales by 4.5 million euros to 92.5 million euros. Due to the restrictive measures against the spread of the COVID 19 virus, the Management Board had forecast consolidated sales of 88 million euros in January. The company was also able to increase consolidated earnings before interest and taxes (EBIT) in fiscal 2020/2021 despite a challenging market environment. Based on preliminary figures, this is now expected to be in a corridor between 10 and 11 million euros, compared with the 7 to 8 million euros previously forecast. The EBIT margin for the completed fiscal year is therefore around 11 to 12 percent. The reasons for the margin improvement were higher-than-expected sales, Corona-related cost reductions combined with a balanced product mix, and significantly reduced costs in connection with a legal dispute compared with the assumptions made in January.
"In a difficult environment, Bastei Lübbe can look back on a successful financial year with a very attractive range of programs. In the process, all employees have contributed their share to our economically pleasing result under challenging conditions, for which we would like to express our sincere thanks," Joachim Herbst, Spokesman of the Executive Board of Bastei Lübbe AG, explains the figures. "For the current fiscal year, we are also confident that we will be able to develop and offer exciting and emotionally moving content for our readers and that our shareholders will share in this success."
Bastei Lübbe also expects a positive development for 2021/2022 and sees an EBIT margin of between 10 percent and 12 percent as realistic with a planned slight increase in group sales. The company will publish a detailed forecast with the annual financial statements at the annual press conference on July 13, 2021.
Announcement dividend payment
The preliminary figures for the past fiscal year and the forecast of the figures for the current year confirm the ability of Bastei Lübbe AG to pay a dividend. Due to the improvement in earnings, the Executive Board and Supervisory Board confirm the intention to propose the payment of a dividend for the 2020/2021 fiscal year to the shareholders at the Annual General Meeting on September 15, 2021.
About Bastei Lübbe AG:
Bastei Lübbe AG is a German publishing house based in Cologne, which specializes in the production of books, audio books and eBooks with fiction and popular science content. The company's core business also includes periodically published novel booklets. With a total of 13 publishing houses and imprints, the group of companies currently has around 3,600 fiction, non-fiction, children's and youth books on offer. In the segment of hardcover fiction, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is an innovation driver in the field of digital media and exploitation channels, among other things through the production of thousands of audio and eBooks.
With annual sales of approx. EUR 82 million (financial year 2019/2020), Bastei Lübbe AG is one of 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:
27.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group 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, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1188495|
|End of News||DGAP News Service|