DGAP-News: Bastei Lübbe AG: Creditreform upgrades rating from BBB to BBB+

 | Source: EQS Group AG EQS Group AG 

DGAP-News: Bastei Lübbe AG / Key word(s): Miscellaneous
Bastei Lübbe AG: Creditreform upgrades rating from BBB to BBB+

18.12.2013 / 13:34

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Bastei Lübbe AG, which has been quoted on the Prime Standard of the
Frankfurt Stock Exchange since 8th October 2013, has been reclassified by
Creditreform Rating AG as Investment Grade BBB+. Until now, the credit
rating of the Cologne based publisher had only been rated with the lower
BBB grade. This improved rating reflects the publisher's successful
development in recent years.
Creditreform justified the upgrade on the basis that the forecasts for the
2013/2014 financial year had improved significantly on budget and previous
year's values.
Furthermore, the IPO boosted the equity ratio significantly and improved
liquidity long term.

In November Bastei Lübbe AG published its half-year figures to 30th
September 2013. Compared to the same period in the previous year, sales
between 1st April 2013 and 30th September 2013 improved by 37.8% to EUR56.0
million (PY: EUR40.6 million). EBIT increased disproportionately by 232% to
EUR7.5 million (PY: EUR2.3 million). 'Overall our technical analysis
demonstrated an improvement in the key financials for the coming year-end
figures. We believe Bastei Lübbe AG is in a stronger position and consider
its structure and content to be sufficient enough to be able to generate
further growth in the future,' according to the latest Creditreform
assessment.

Thomas Schierack, Chairman of the Board of Directors of Bastei Lübbe AG,
comments: 'The rating upgrade by Creditreform is further evidence of our
solid business policy. We are pleased to be able to justify the confidence
of our investors. We will therefore continue to consistently work on
driving forward the dynamic development of Bastei Lübbe AG.'

Christmas trade is once again performing well. Bastei Lübbe is currently
celebrating the big success of Jeff Kinney's eighth novel in the Diary of
Wimpy Kid series, 'Hard Luck'. Since it was published on 21st November 2013
there have already been more than 1 million copies distributed.

Bastei Lübbe is one of this year's most successful non-fiction publishers.
In 2013 it scored a total of 13 titles on the non-fiction bestseller list
(Media Control, Focus).


End of Corporate News

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Language:    English                                                
Company:     Bastei Lübbe AG                                        
             Schanzenstraße 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  
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245348 18.12.2013
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