Bertelsmann Off to an Excellent Start in 2010
- First-quarter Operating EBIT more than doubles
- Group revenues up slightly
- Cost and efficiency program continues to contribute to success
The international media company Bertelsmann 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.
Overview of figures (in € millions)
Jan 1, 2010 to Mar 31, 2010 | Jan 1, 2009 to | |
| Consolidated revenues | 3,622 | 3,527 |
Operating EBIT by division Corporate/consolidation Operating EBIT | 305
284 | 140
115 |
Special items | (26) | (17) |
EBIT | 258 | 98 |
Financial result | (176) | (126) |
Earnings before taxes | 82 | (28) |
Income taxes | (37) | (50) |
Group profit or loss | 45 | (78) |
attributable to: Bertelsmann shareholders | 15 | (94) |
attributable to: Minority interest | 30 | 16 |
Investments | 241 | 188 |
Balance as of 3/31/2010 | Balance as of 12/31/2009 | |
Net financial debt | 2,775 | 2,793 |
Economic debt | 5,821 | 6,024 |
Employees (in absolute numbers) | 101,690 | 102,983 |
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. Bertelsmann’s 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. The foundation of Bertelsmann's success is a corporate culture based on partnership, entrepreneurial spirit, creativity, and corporate responsibility. The company strives to bring creative new ideas to market and create value. Bertelsmann celebrates its 175th anniversary in 2010.
For further questions, please contact:
Andreas Grafemeyer
Senior Vice President Media Relations
Phone: +49 – 52 41 / 80 24 66
andreas.grafemeyer@bertelsmann.de
Attachment
| Name | Size |
|---|---|
| Q1_2010_engl.pdf | 88 kB |
