Bertelsmann Continues Positive Development in Q1/2005
Bertelsmann, the international media company, once again improved its operating result in the first quarter of 2005. Operating EBIT rose to €159 million after €111 million in the first three months of the previous year. Beyond the positive developments in the operating business, the full consolidation of the French TV channel M6 contributed €25 million to this increase. Revenues remained stable at €3.8 billion (previous year: €3.8 billion). Adjusted for currency effects and changes to the portfolio, Bertelsmann registered growth of 1.5 percent. Bertelsmann continues to expect an increase in its revenues and results for the full year vis-à-vis fiscal 2004.
Net income before minority interest amounted to €58 million (previous year: €39 million). An improved operating result and lower interest expense had a positive effect. Meanwhile, restructuring expenses – primarily for the Sony BMG music joint venture – decreased net income by €30 million. Net income after minority interest improved slightly from €31 million to €33 million.
First-quarter investments amounted to €200 million (previous year: €234 million). Economic debt at March 31, 2005 was €2.9 billion (December 31, 2004: €2.6 billion). This increase since the end of the year 2004 is mostly a seasonal effect. The number of employees grew to 77,081 (December 31, 2004: 76,266).
Key Figures (in € millions)
Jan 1, 2005 to
| Jan 1, 2004 to | |
Revenues | 3,804 | 3,790 |
Operating EBIT by divisions Corporate/Consolidation | 176
| 123
|
Operating EBIT | 159 | 111 |
Special items | (30) | 15 |
EBIT (Earnings before interest and taxes) | 129 | 126 |
Net interest | (10) | (19) |
Other financial expenses and income | (41) | (43) |
Income taxes | (20) | (25) |
Net income before minority interest | 58 | 39 |
Minority interest | (25) | (8) |
Net income after minority interest | 33 | 31 |
Investments | 200 | 234 |
At Mar 31, 2005 | At Dec 31, 2004 | |
Economic Debt | 2,940 | 2,632 |
Employees | 77,081 | 76,266 |
Definition of Operating EBIT: Operating EBIT refers to the earnings before interest, taxes and special items.
About Bertelsmann AG
Bertelsmann, a media and entertainment company, commands globally leading positions in the major markets. Its core business is the creation of first-class media content: Bertelsmann includes RTL Group, Europe’s No. 1 in television and radio, as well as the world’s biggest book-publishing group, Random House, with more than 100 publishing imprints (Alfred A. Knopf, Bantam, Goldmann). Gruner + Jahr, the European No.1 in magazine publishing (stern, GEO, Capital), and Sony BMG Music Entertainment with artists such as Anastacia, Alicia Keys, Beyoncé, Dido and Usher also stand for creativity and powerful brands. Bertelsmann’s direct-to-customer businesses are bundled in its Direct Group division, which comprises book and music clubs with more than 30 million members all over the world. Media services operations in the Arvato division include the expanding Arvato Logistics Services and Arvato Direct Services units (service centers, distribution, customer relationship management), as well as state-of-the-art printers, storage media production and comprehensive IT services.
For further questions, please contact:
Oliver Herrgesell
Senior Vice President Media Relations
Phone: +49 – 52 41 – 80 24 66
oliver.herrgesell@bertelsmann.com
Attachment
| Name | Size |
|---|---|
| Q1_e.pdf | 112 kB |
