Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Bastei Lübbe AG    BST   DE000A1X3YY0

BASTEI LÜBBE AG

(BST)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Bastei Lübbe AG: Stable performance and positive figures after nine months

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2019 | 02:05am EST

DGAP-News: Bastei Lübbe AG / Key word(s): 9 Month figures
Bastei Lübbe AG: Stable performance and positive figures after nine months

14.02.2019 / 08:00
The issuer is solely responsible for the content of this announcement.


Bastei Lübbe AG: Stable performance and positive figures after nine months


- Consolidated revenue reaches EUR 72.2 million

- Group EBIT improves to EUR 2.1 million

- New programme strategy forms the basis for profitable growth


Cologne, 14 February 2019 - Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, published its interim report on the first nine months of the 2018/2019 financial year today. The company made a strong return to profitability in the reporting period. Overall, the publishing house is therefore fully on track in the context of its strategic realignment.

In the period from 1 April to 31 December 2018, the long-established Cologne-based publisher generated revenue of EUR 72.2 million and earnings before interest and taxes (EBIT) of EUR 2.1 million. As part of the restructuring measures started in early 2018, several subsidiaries and portfolio companies, including BuchPartner, BookRix, BEAM Shop and oolipo, were sold. A comparison of the figures with the corresponding prior-year period is therefore only of limited informative value.

Adjusted for the discontinued "Retail" segment (BuchPartner), revenue fell by around 17% due to the programme-related fluctuations in the "Book" (including e-book) and "Games" segments that are typical for the business. Despite the decline in revenue, EBIT adjusted for the discontinued "Retail" segment rose sharply in the reporting period by EUR 2.8 million to EUR 2.1 million (previous year: EUR -0.7 million).

All in all, the company returned to profitability in the reporting period. Group earnings improved significantly from EUR -10.3 million in the previous year to EUR 0.3 million.

Debt was reduced substantially in the reporting period by focusing on core business while successfully implementing an efficiency programme. Compared with the last Group reporting date, net debt (liabilities to banks less cash) declined by EUR 7.7 million, to EUR 22.4 million on 31 December 2018. This debt reduction and the decrease in costs lay the foundation for future profitable growth well above the overall stable development of the sector.

The novel booklets and puzzle magazines, as well as the publishing segments children's and youth books, audio and, in particular, LYX were the clear growth and earnings drivers in the last nine months.

The performance of fiction imprints and non-fiction books was not entirely convincing. Bastei Lübbe took action to remedy this situation in November 2018 by appointing Simon Decot as Head of "Programme Strategy". He is one of the most respected programme managers in the industry. Under his leadership, the divisions are currently being repositioned for the financial years ahead.

Compared to the previous forecast, the Management Board expects consolidated revenue of EUR 90 million for the 2018/2019 financial year (previously EUR 95 million). Despite the expected start-up costs for the efficiency program totalling EUR 2 million and expenses of around EUR 0.5 million for the adjustment of the investment portfolio, the Management Board expects EBIT to remain positive in the current financial year. The Management Board envisages that EBIT for 2018/2019 as a whole will reach at least the lower end of the forecast range from EUR 0.5 million to EUR 2 million if business develops as expected in the final quarter. Current financial planning of the Bastei Lübbe Group now assumes that net debt should be lower than in the previous year (EUR 30.1 million) at around EUR 25 million as at 31 March 2019 (previously: on a par with the previous year).

"After the turbulent previous year, we have been focusing mainly on adjustment and efficiency enhancement in the current financial year. After this year of transition, we are now actively working on our strategy and growth planning. We have identified interesting medium-term options in our market, and are now addressing them in a targeted manner," said Carel Halff, CEO of Bastei Lübbe AG.

The interim report on the third quarter of 2018/2019 is available for download at www.luebbe.com.

About Bastei Lübbe AG:

Bastei Lübbe AG is a German publishing house with headquarters in Cologne specialising in the publication of books, audio books and e-books with fiction and popular science content. The company's core business also includes the periodically published puzzle magazines and novel magazines. With its total of twelve publishing houses and imprints, the company group currently offers around 3,600 titles in the areas of fiction, non-fiction as well as books for children and young adults. In the growing segment of hardcover fiction books, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is an engine for innovation in the area of digital media and distribution channels, among other things by the production of thousands of audio and eBooks. This includes the stake in the renowned game publisher "Daedalic Entertainment".

With annual sales of approx. 107 million euros (financial year 2017/2018), Bastei Lübbe AG is one of the largest medium-sized publishing companies in Germany. The shares of the company have been listed in the Prime Standard segment on the Frankfurt stock exchange (GSIN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information is available at
www.luebbe.com.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Tel.: 0221 / 82 00 28 50
E-Mail: barbara.fischer@luebbe.de



14.02.2019 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.
Archive at 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, Tradegate Exchange

 
End of News DGAP News Service

775455  14.02.2019 

fncls.ssp?fn=show_t_gif&application_id=775455&application_name=news&site_id=zonebourse

© EQS 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BASTEI LÜBBE AG
11/14BASTEI LÜBBE AG PUBLISHES HALF-YEAR : 'The Christmas season will be crucial for..
EQ
11/07BASTEI LÜBBE AG : Preliminary announcement of the publication of financial repor..
EQ
10/01BASTEI LÜBBE AG : Chief Executive Officer Carel Halff will not renew his contrac..
PU
10/01BASTEI LÜBBE AG : Chief Executive Officer Carel Halff will not renew his contrac..
EQ
10/01BASTEI LÜBBE AG : Chief Executive Officer Carel Halff will not renew his contrac..
EQ
09/19BASTEI LÜBBE AG : Management Board confirms positive business development at ord..
PU
09/19BASTEI LÜBBE AG : Management Board confirms positive business development at ord..
EQ
08/15BASTEI LÜBBE AG PUBLISHES RESULTS FO : 'Publishing House back on track'
PU
08/15BASTEI LÜBBE AG PUBLISHES RESULTS FO : 'Publishing House back on track'
EQ
07/11SOLID BUSINESS - PAYING UP : Bastei Lübbe publishes financial statements for the..
PU
More news
Financials (EUR)
Sales 2020 87,0 M
EBIT 2020 4,98 M
Net income 2020 2,18 M
Debt 2020 16,0 M
Yield 2020 -
P/E ratio 2020 17,2x
P/E ratio 2021 13,5x
EV / Sales2020 0,61x
EV / Sales2021 0,53x
Capitalization 37,4 M
Chart BASTEI LÜBBE AG
Duration : Period :
Bastei Lübbe AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BASTEI LÜBBE AG
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Average target price 4,43  €
Last Close Price 2,83  €
Spread / Highest target 94,3%
Spread / Average Target 56,7%
Spread / Lowest Target 23,7%
EPS Revisions
Managers
NameTitle
Carel Halff Chief Executive Officer
Robert Stein Chairman-Supervisory Board
Ulrich Zimmermann Chief Financial Officer
Friedrich L. Ekey Member-Supervisory Board
Mirko Alexander Caspar Member-Supervisory Board
Sector and Competitors