EQS-News

Bastei Lübbe AG confirms full-year forecast and achieves further growth with digital products

EQS-News: Bastei Lübbe AG / Key word(s): 9 Month figures/Quarterly / Interim Statement Bastei Lübbe AG confirms full-year forecast and achieves further growth with digital products 09.02.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Bastei Lübbe AG confirms full-year forecast and achieves further growth with digital products

• Group revenues of 73.2 million euros in the third quarter of the 2022/2023 fiscal year almost on a par with the previous year
• Further growth with digital products and the LYX imprint
• Outlook for the fiscal year as a whole: revenue forecast confirmed, adjusted EBIT of 8 to 9 million euros expected

Cologne, 9 February 2023 – Against the backdrop of a persistently difficult market environment, Cologne-based general-interest publisher Bastei Lübbe (ISIN DE000A1X3YY0) can look back on pleasing performance to date in the current fiscal year 2022/2023, achieving favourable results in its operating business, while at the same time confirming its full-year forecast. Given still muted consumer confidence and substantially higher prices, the Group generated revenues of 73.2 million euros in the period from 1 April to 31 December 2022. Despite the decline of just under 2 percent in revenues over the previous year as a result of macroeconomic conditions, the Executive Board sees its strategic focus as being confirmed. The Group’s largely stable performance is attributable to its generally encouraging Christmas business and further growth in its digital products. In addition, the growth of the LYX imprint, which addresses the New Adults target group with its community-driven business model, far exceeded its own expectations.

Rising costs exerting pressure on Group earnings

Earnings before interest and income taxes (EBIT) were substantially weaker. The decline from EUR 12.1 million in the previous year to EUR 4.8 million reflects increased costs for printing and paper and particularly also the adjustment of the goodwill attributable to the subsidiary smarticular, which had been announced in November. At the same time, personnel costs rose by 1.5 million euros over the previous year to 15.0 million euros. This was due to heightened recruiting and the first-time consolidation in the current fiscal year of the share in Community Editions GmbH, an imprint specialising in the distribution of books by social media artists. It should also be borne in mind that the previous year’s figure had included a dividend of 1.2 million euros distributed by a subsidiary.