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May 10 – 16, 2010 Edition Bertelsmann Off to an Excellent Start in 2010
Gütersloh/AUTHORLINK NEWS/May 12, 2010–The international media company Bertelsmann, which owns book publisher Random House, reports significant growth in its operating business for the first quarter of 2010.
Operating EBIT rose to 284 million, more than twice the figure for Q1 2009 (115 million). First-quarter Group revenues were up slightly year on year, to 3.6 billion (Q1 2009: 3.5 billion). Group income improved to 45 million, after -78 million the first three months of the previous year.
Bertelsmann Chairman & CEO Hartmut Ostrowski said: The first three months of 2010, the year of our 175th anniversary, have gone well. We are harvesting the fruit of the measures taken in fiscal 2009 and are profiting from a revival in the advertising markets and continued cost discipline. We are headed in the right direction, even though the economy itself remains difficult.
Bertelsmann CFO Thomas Rabe added: We further reduced our debt during the first quarter of the year. Thanks to the good performance of our operations, the Leverage Factor has dropped below 3.0. We will continue on this course.
Net financial debt at 31 March 2010 was 2,775 million (31 December 2009: 2,793 million); while economic debt was 5,821 million (31 December 2009: 6,024 million). Bertelsmann confirms its forecast for the full-year 2010: a stable revenue and Operating EBIT performance, and a significantly higher group profit than last year.
About Bertelsmann AG Bertelsmann is an international media company encompassing television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), media services (Arvato), and media clubs (Direct Group) in more than 50 countries. Bertelsmanns claim is to inspire people around the world with first-class media and communications offerings entertainment, information and services and occupy leading positions in its respective markets. Bertelsmann celebrates its 175th anniversary in 2010.
