Bastei Lübbe concludes its 2018/19 financial year better than forecast
- Book publishers outperformed expectations in the 4th quarter
- Consolidated revenues of around EUR 95 million according to preliminary numbers
- Consolidated EBIT between EUR 2 and 2.5 million according to preliminary numbers
Cologne, 1 July 2019. Based on preliminary numbers for the 2018/2019 financial year, Bastei Lübbe AG (ISIN DE000A1X3YY0) has exceeded its forecast, last updated in February 2019, for the three key figures revenues, earnings and debt.
Accordingly, consolidated revenues of around EUR 95 million were achieved in fiscal year 2018/2019. In its forecast, the Executive Board of Bastei Lübbe AG had expected revenues of Euro 90 million. The overachievement is due to an improved business situation in the Book and Games segments.
Consolidated earnings before interest and tax (EBIT) came out between EUR 2 million and EUR 2.5 million according to preliminary numbers, and thus at least at the upper end of the forecast range of EUR 0.5 million to EUR 2 million. In the previous year, which was burdened by restructuring measures, a negative EBIT of EUR -18.0 million was achieved. The better-than-expected development in the 2018/2019 financial year is mainly due to higher Group revenues and lower restructuring costs.
Net debt as of March 31, 2019 was around EUR 18 million instead of the forecast EUR 25 million, and thus also better than expected. Compared to the previous year (EUR 30.1 million), it was reduced by 40%. This is mainly due to the positive development in the fourth quarter of the financial year and cautious liquidity planning.
The final audited annual financials will be published as planned on 11 July 2019 with the 2018/2019 annual report of Bastei Lübbe AG. The annual report will then be available on the Internet at https://www.luebbe.com/en/investor-relations/financial-reports.
Contact Bastei Lübbe AG:
Head of Press and Public Relations
Tel.: +49 (0)221 8200 2850
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