DGAP-News: Bastei Lübbe AG / Key word(s): 9-month figures
Bastei Lübbe AG publishes report on first nine months of 2015/2016: Sales
and earnings in line with forecasts
15.02.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Bastei Lübbe AG publishes report on first nine months of 2015/2016:
Sales and earnings in line with forecasts
- Consolidated revenue reaches EUR 79.4 million (previous year: EUR 86.8
million)
- Group EBITDA climbs to EUR 14.0 million (previous year: EUR 11.5 million)
- Outlook still positive: entertainment portal oolipo presents first beta
version of software
Cologne, 15 February 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is
listed in the Prime Standard of the Frankfurt Stock Exchange, presented its
nine-month report for the period from 1 April to 31 December 2015 today. In
the reporting period, the Cologne-based media group generated revenue of
EUR 79.4 million after EUR 86.8 million in the previous year. The decline
in sales of EUR 7.4 million is partly due to the deconsolidation of the
investments in oolipo AG (formerly BEAM AG) and Daedalic Entertainment
GmbH, but also partly results from the fact that book sales were down on
the comparable sales figure from the previous year. This is because the
bestseller "Edge of Eternity" by Ken Follett had contributed very high
sales in Christmas business in the 2014/2015 financial year. As expected,
the blockbusters in the current financial year, the new novels by Rebecca
Gablé and Sebastian Fitzek, did not quite match these sales.
Group EBITDA improved to EUR 14.0 million in the reporting period after EUR
11.4 million in the same period of the previous year. Earnings in the first
nine months of the current financial year were positively influenced by
income from the transitional consolidation of Daedalic Entertainment GmbH
(EUR 6.4 million in the "Digital" segment), partly offset by the
deconsolidation loss of Präsenta (EUR 1.4 million in the "Non-Book"
segment) and payments to former members of the Management Board. Group EBIT
climbed to EUR 11.8 million after EUR 9.3 million in the previous year. Net
profit for the period reached EUR 8.4 million after EUR 5.1 million in the
previous year. Earnings per share increased to EUR 0.63 in the first nine
months of 2015/2016 after EUR 0.38 in the same period of the previous year.
In the first nine months of 2015/2016, the "Book" segment posted a decline
in revenue to EUR 39.7 million as expected after EUR 46.5 million in the
comparative period of the previous year. This decrease is due chiefly to
the fact that fewer blockbusters were offered in Christmas business as
compared to the previous year. In the reporting period, the "Novel Booklets
and Puzzle Magazines" segment generated revenue of EUR 7.2 million after
EUR 7.9 million in the previous year. The "Non-Book" segment generated a
significant increase in revenue to EUR 12.8 million after EUR 10.6 million
in the previous year. Revenue in the "Digital" segment fell to EUR 19.9
million in the first nine months of 2015/2016 after EUR 21.8 million in the
comparative period of the previous year. This was particularly due to the
deconsolidation of the investment in Daedalic Entertainment GmbH.
In the reporting period, total assets decreased slightly from EUR 124.3
million as of 31 March 2015 to EUR 123.7 million as of 31 December 2015.
Equity after non-controlling interests increased to EUR 62.4 million as of
31 December 2015 after EUR 60.7 million as of 31 March 2015. The dividend
payout of roughly EUR 4 million was more than offset by the net profit for
the period of approximately EUR 8.4 million.
Positive outlook
The Management Board continues to view the prospects for the current
2015/2016 financial year as positive. The "Digital" segment is performing
in line with expectations. It should be noted that the revenue of Daedalic
Entertainment GmbH will no longer be allocated to this segment in future
because of its deconsolidation in September 2015. For the 2015/2016
financial year as a whole, the Management Board anticipates consolidated
revenue in the region of EUR 105 million and Group EBITDA of approximately
EUR 15 million. In addition to the lower level of sales, the expected
slight year-on-year decline in EBITDA, which is nonetheless in line with
planning, is also attributable to start-up costs in the Digital segment,
particularly including investments in oolipo AG.
"Our entertainment portal oolipo, the world's first streaming platform for
reading serial content especially for smartphones and tablets, is
developing according to plan," explains Thomas Schierack, CEO of Bastei
Lübbe AG. oolipo AG has now presented the first beta version of the
software. This will now be tested in a small group. The public launch of
oolipo is scheduled for summer/autumn this year. Negotiations with other
publishers regarding the supply of content are soon to be concluded. In
addition, negotiations are being held with foreign media companies with
regard to expanding oolipo to other countries.
The full quarterly report for 2015/2016 is available online at
https://www.luebbe.com/de/investor-relations/finanzberichte.
About Bastei Lübbe AG:
Bastei Lübbe AG is an international media group based in Cologne. The
business operations focus on the development and licensing of content
distributed worldwide physically and digitally. The company's core business
includes the traditional publishing business and the periodical puzzle
magazines and novel booklets in the "Book" segment. With its twelve
publishers and imprints, the group of companies currently offers
approximately 3,600 titles in fiction, non-fiction and books for children
and young adults. In the growing segment of hardcover fiction, the company
has been the market leader in Germany for many years. At the same time,
Bastei Lübbe is driving innovation in the field of digital media. As well
as the production of thousands of audio and e-books, the "Digital" segment
also includes holdings in the self-publishing platform "BookRix" and the
renowned games publisher "Daedalic Entertainment". Bastei Lübbe AG's value
chain is completed by the investment in the online shop "beam-ebooks.de"
and the new and internationally unique streaming platform "oolipo". The
investments Daedalic, BookRix, oolipo, Beam Store, JV US and Bastei Media
are bundled in the Holding company "Bastei Ventures GmbH", since January
2016.
With currently 334 employees and an annual turnover of roughly EUR 110.2
million (financial year 2014/2015), Bastei Lübbe AG is the largest
medium-sized family company in the German publishing industry. Since 2013,
the company's shares have been listed in the Prime Standard of the
Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0). Further
information is available at www.luebbe.de.
Contact Bastei Lübbe AG:
Barbara Fischer
Director / Vice President
Public Relations
Tel.: +49 (0) 221 / 82 00 28 50
E-mail: barbara.fischer@luebbe.de
---------------------------------------------------------------------------
15.02.2016 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
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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart
End of News DGAP News Service
---------------------------------------------------------------------------
437287 15.02.2016
DGAP-News: Bastei Lübbe AG publishes report on first nine months of 2015/2016: Sales and earnings in line with forecasts
| Source: EQS Group AG