DGAP-News

Bastei Lübbe AG publishes results for the first nine months of the 2016/2017 financial year - Seite 2

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 24.0% to EUR 9.3 million as against EUR 7.5 million in the same period of the previous year. Generated earnings were impacted by numerous items of non-recurring expenditure totalling around EUR 2 million. These include consultancy services relating to company purchases and sales and non-recurring financing costs as well non-recurring costs relating to changes to the annual and consolidated financial statements and relocation of the Annual General Meeting.

EBITDA in the "Book" segment amounted to EUR 2.2 million after EUR 4.4 million in the previous year. Much of this decrease is due to increased scheduled write-downs on royalties. EBITDA of the "Digital" segment rose to EUR 2.6 million from EUR 0.9 million in the same period of the previous year. This improvement in earnings mainly stems from a sharp rise in revenue and an associated increase in gross profit. Earnings of the "Non-Book" segment increased from EUR 1.1 million in the previous year to EUR 3.0 million. There is to be considered that a deconsolidation loss of EUR 1.4 million was incurred in the previous year in relation to the sale of the investment in Präsenta Promotion International GmbH. Earnings of the "Novel Booklets and Puzzle Magazines" segment rose to EUR 1.4 million compared with EUR 1.1 million in the previous year.

Group earnings of Bastei Lübbe AG improved by 76.9% in the reporting period to EUR 2.3 million after EUR 1.3 million in the same period of the previous year. Accordingly, earnings per share were up from EUR 0.11 in the first nine months of 2015/2016 to EUR 0.19.

Group total assets rose by EUR 49.3 million from EUR 111.8 million on 31 March 2016 to EUR 161.0 million as at 31 December 2016. This sharp rise is attributable mainly to the full consolidation of BuchPartner GmbH since 1 April 2016.

The Group's liquidity is ensured for the next few years, particularly on the basis of the syndicated loan agreement. As a result of payment of the purchase price for Räder at the end of December 2016 and regular repayments in the third quarter of the current financial year, Bastei Lübbe AG's bond and syndicated loan liabilities were reduced by EUR 13.0 million from EUR 49.2 million to EUR 36.2 million as at 31 December 2016.