DGAP-News: Bastei Lübbe AG / Key word(s): Quarter Results
Bastei Lübbe AG publishes quarterly results for 2014/2015
14.08.2014 / 08:00
---------------------------------------------------------------------
Bastei Lübbe AG publishes quarterly results for 2014/2015
- Sales of EUR 20.6 million and EBIT of EUR 0.5 million slightly above
previous expectations
- Positive development at subsidiary Räder
- Full-year forecast confirmed: Further growth in sales and EBIT in line
with previous year's level expected
Cologne, 14 August 2014 - Bastei Lübbe AG, a company listed in the Prime
Standard of the Frankfurt Stock Exchange (ISIN DE000A1X3YY0), today
published its report for the first quarter of 2013/2014. The Cologne-based
media company achieved sales of EUR 20.6 million in the period from 1 April
to 30 June 2014. Despite a fall of around EUR 8 million compared to the
corresponding period of the previous year (Q1 2013/2014: EUR 28.6 million),
the Cologne media company exceeded its internal planning. The fall in sales
is explained by the fact that the first quarter of 2013/2014 included a
high contribution to sales and earnings by the bestseller "Inferno" by Dan
Brown, published in May 2013. This accounted for around EUR 9 million in
sales. Bastei Lübbe did not have any comparable bestseller in the first
quarter of 2014/2015, as had already been indicated in the forecast for the
2014/2015 financial year on 30 June.
Operating earnings before interest and taxes (EBIT) fell to EUR 0.5 million
in the reporting period due to the decline in sales (Q1 2013/2014: EUR 2.1
million), but were likewise better than expected. Period earnings in the
first quarter of 2013/2104 amounted to EUR -70,000, compared to EUR 1.1
million the year before. For the current financial year, the executive
board of Bastei Lübbe AG confirms its forecast of moderate sales growth and
EBIT in line with the previous year's level.
The balance sheet total as at 30 June 2014 was EUR 119.7 million, compared
to EUR 107.6 million at 31 March 2014. The share of equity attributable to
shareholders of the parent company at 30 June 2014 remained unchanged from
31 March 2014 at EUR 51.5 million. The equity ratio fell as a result from
48.1% to 43.0%. The operating cash flow improved to EUR 0.11 million in the
first quarter of 2014/2015 (Q1 2013/2014: EUR -0.84 million).
Sales in the "books" segment decreased to EUR 15.4 million in the first
quarter of 2014/2015, from EUR 24.3 million in the previous year, due to
the lack of a bestseller. Sales in the "novel booklets/puzzle magazines"
segment remained largely stable at EUR 2.5 million (Q1 2013/2014: EUR 2.6
million). The "non-book" segment achieved a significant sales increase of
68.8% reaching EUR 2.7 million (Q1 2013/2014: EUR 1.6 million). In a
generally downhill market environment for gift items/home accessories, the
subsidiary Räder managed to buck the negative trend in the first quarter of
2014/2015, achieving a 19% increase in sales. The unmistakeable sales
driver here was the new spring/autumn collection.
Bastei Lübbe AG prepared a consolidated balance sheet for the first time in
the first quarter of 2014/2015. The holding in Bookrix is consolidated in
the "books" segment and Daedalic is consolidated in the "non-books"
segment.
Outlook
The 2014/2015 financial year will be a year of development in which Bastei
Lübbe AG will accelerate its digital internationalisation and will continue
to expand its development into an international media company. The "books"
segment is acting as a growth driver in the digital area in particular.
"We had already indicated at an early stage that our first-quarter sales
and earnings would not match the level of the corresponding quarter of the
previous year. However, we estimate that the lack of sales in the first
quarter will be more than offset for the full year 2014/2015 by the
additional revenues expected in the second and third quarters. In
particular, we expect a significant contribution to sales and earnings in
the further course of the year from the new book by best-selling author Ken
Follett, which will be published in the second quarter of 2014/2015.
Despite the investment in international expansion, we are therefore
confident that we can keep EBIT at last year's levels for the full year
2014/2015," said Thomas Schierack, CEO of Bastei Lübbe AG.
The full report for the first quarter is available for download from
http://www.luebbe.de/Investor-Relations/_investor_finanzberichte_en.
About Bastei Lübbe AG:
Bastei Lübbe AG is a media company operating in the form of a trade
publisher. The company is based in Cologne, Germany, and has around 335
employees. In the context of its business activity, Bastei Lübbe publishes
books, audiobooks, eBooks and digital products with fictional and popular
scientific content as well as periodically released magazines in the form
of paperback novels and puzzle books. The business activity of Bastei Lübbe
also includes the licensing of rights and the development, production and
distribution of gift, decorative and merchandising items. Bastei Lübbe has
been almost continuously the market leader in the growing fictional
hardcover sector for many years and the company was also number 1 in 2013
in fictional eBooks. Bastei Lübbe AG celebrated its 60-year anniversary in
2013, and was listed on the stock exchange. Bastei Lübbe AG shares are
listed in the Prime Standard section of the Frankfurt stock exchange (WKN
A1X3YY, ISIN DE000A1X3YY0)
Contact at Bastei Lübbe AG:
Barbara Fischer
Head of Press and
Event Marketing
Tel.: 0221 / 82 00 28 50
E-mail: barbara.fischer@luebbe.de
---------------------------------------------------------------------
14.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Bastei Lübbe AG
SchanzenstraÃe 6 - 20
51063 Köln
Germany
Phone: 02 21 / 82 00 - 0
Fax: 02 21 / 82 00 - 1900
E-mail: investorrelations@luebbe.de
Internet: www.luebbe.de
ISIN: DE000A1X3YY0, DE000A1K0169
WKN: A1X3YY, A1K016
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
282204 14.08.2014
DGAP-News: Bastei Lübbe AG publishes quarterly results for 2014/2015
| Source: EQS Group AG