Bastei Lübbe with higher revenues and improved profitability in the first quarter of 2023/2024

EQS-News: Bastei Lübbe AG / Key word(s): Quarterly / Interim Statement
Bastei Lübbe with higher revenues and improved profitability in the first quarter of 2023/2024
10.08.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe with higher revenues and improved profitability in the first quarter of 2023/2024

  • Revenues up 20.5 percent over the previous year, rising to €22.8 million
  • Increase in Group EBIT to €2.1 million (previous year: €0.3 million) in tandem with improved EBIT margin of 9.2 percent (previous year: 1.7 percent)
  • Fiction, new adult and audio formats the revenue drivers
  • Full-year forecast for 2023/2024 confirmed – guaranteed best-sellers in the second half of the year

Cologne, 10 August 2023. Bastei Lübbe AG, a general-interest publisher listed in the Prime Standard of the Frankfurt Stock Exchange, grew in the first quarter of its 2023/2024 financial year, achieving improved profitability. Thus, it posted Group revenues of €22.8 million in the period from April to June, up from €19.0 million in the same period of the previous year, equivalent to an increase of 20.5 percent. Group EBIT rose to €2.1 million in the first quarter, up from €0.3 million in the previous year.

Growth driven by fiction, LYX new adult titles and audio

The first quarter of 2023/2024 was generally pleasing for Bastei Lübbe AG despite the challenging macroeconomic situation and persistently high inflation. Revenues of €21.1 million (previous year: €17.2 million) were recorded in the “Book” segment. In particular, they increased by 35 percent in the fiction segment, by 18 percent for the LYX imprint with its titles for young adults and by 41 percent in the audio segment due to continued growth in streaming and download products. At the same time, the volume of returns declined significantly over the previous year. Segment EBIT climbed from €0.4 million in the previous year to €2.0 million in the period under review. This was mainly due to higher revenues in tandem with very largely stable costs.

The share of revenues attributable to the community-driven business models stood at 32 percent in the first quarter of 2023/2024, almost the same as in the previous year.

In the “Novel Booklets” segment, revenues of €1.8 million were generated in the period under review, compared with €1.7 million in the previous year. In this connection, revenues rose slightly in the digital sector and in e-commerce. At €0.1 million, segment EBIT was up on the previous year (€‑0.1 million) in the first quarter, reflecting a slight easing of printing and paper costs in particular.

“Bastei Lübbe AG entered its new financial year on a successful note. Despite the economic headwinds, we achieved convincing performance with a wide range of entertainment products across all channels,” says Soheil Dastyari, CEO of Bastei Lübbe AG. “In a few weeks’ time, we will be releasing a whole series of guaranteed best-sellers. As a result, we are optimistic about the outlook for the year as a whole.”

Significantly improved profitability

Group earnings before interest and taxes (EBIT) came to €2.1 million in the period from April to June (previous year: €0.3 million). The EBIT margin widened to 9.2 percent, up from 1.7 percent in the same period of the previous year. Earnings before taxes (EBT) amounted to €1.9 million (previous year: €0.2 million). Consolidated net profit for the period came to €1.3 million (previous year: €0.1 million). Accordingly, earnings per share improved to €0.10, up from €0.01 in the previous year.

As of 30 June 2023, total Group assets stood at €108.8 million, up from €107.9 million as of 31 March 2023. At €56.1 million on 30 June 2023, the share of equity attributable to the equity holders of the parent company was slightly higher than on 31 March 2023 (€54.8 million) due to the net profit for the period.

Outlook confirmed

The environment for retail and consumer goods remains challenging. Persistent inflation and the absence of an economic upturn in Germany are leaving traces on consumer confidence.

However, Bastei Lübbe is also well positioned for these market conditions with its products in various entertainment formats, titles for all age groups and a wide variety of media channels as well as its strong foothold in digital business and community offerings. In addition, attractive new publications are slated for release in the second half of the year, particularly the new novel by internationally bestselling author Ken Follett, as well as new works by the successful duo Dirk Rossmann and Ralf Hoppe, US top-seller Jeff Kinney and the Lyx authors Mona Kasten, Laura Kneidl, Sarah Sprinz as well as Lena Kiefer. Community Editions has announced new publications by Paluten, Arazhul and ViktoriaSarina among others. Growth in the audiobook sector is set to be spurred by additional production capacities.

Accordingly, the Executive Board expects continued growth in the company’s business and confirms the forecast for the 2023/2024 financial year published in the 2022/2023 Annual Report. Revenues are projected in a range of €100 – 105 million, with EBIT set to come to €9.0 – 10.0 million.

Bastei Lübbe AG’s interim statement for the first quarter of the 2023/2024 financial year is available at www.bastei-luebbe.de.

About Bastei Lübbe AG:

Bastei Lübbe AG is a German general-interest publisher based in Cologne, specialising in the publication of books, audio books and e-books featuring fiction and popular science content. The company’s core business also includes the periodically published novel booklets. With a total of fifteen imprints, the group currently offers several thousand titles in the fields of fiction, non-fiction and children’s and young people’s books. In the growing 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 a driver of innovation in digital media and exploitation channels through the production of thousands of audio and e-books among other things.

With annual revenues of around €100 million (2022/2023 financial year), Bastei Lübbe AG is one of the largest medium-sized companies in the German publishing industry. Its shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information can be found at www.bastei-luebbe.de.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Phone: +49 (0)221 8200 2850
E-Mail: barbara.fischer@luebbe.de

10.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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