Bastei Lübbe confirms higher forecast with strong nine-month figures

Bastei Lübbe confirms higher forecast with strong nine-month figures
 

• Group revenues in the first nine months of the 2023/2024 financial year increased by 15.3 percent over the previous year to €84.4 million (previous year: €73.2 million)
• Significant increase in Group EBIT to €11.7 million (previous year: €4.8 million) in tandem with substantially wider EBIT margin of 13.9 percent (previous year: 6.6 percent)
• Revenues driven by strong Christmas business and growth in community-driven business models
• Previously raised full-year 2023/2024 forecast confirmed

Cologne, 8 February 2024 – Bastei Lübbe AG, a general-interest publishing group listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A1X3YY0), has continued on the dynamic trajectory emerging in the first half of the year, growing significantly again in the third quarter of its 2023/2024 financial year, while achieving further increases in profitability. As a progressive full-range publisher with diverse entertainment and specialist areas of interests for all age groups and a comprehensive range of media channels, the group is benefiting from its broad strategic orientation and successful Christmas business.

“At the beginning of January, we raised our forecast for the current financial year and can now impressively confirm this with our nine-month figures. I am particularly pleased with the broad basis of this very favourable performance. Almost all of our business lines are moving jointly in the right direction and confirming our corporate strategy,” explains Soheil Dastyari, CEO of Bastei Lübbe AG.
 

Growth driven by fiction catalogue, Christmas business and community models

In the period from April to December 2023, Bastei Lübbe AG generated Group revenues of €84.4 million, up from €73.2 million in the same period of the previous year, equivalent to an increase of 15.3 percent. The attractive fiction catalogue had a positive impact on Christmas business, driven by best sellers such as “The Weapons of Light” by Ken Follett, “Das dritte Herz des Oktopus” by Dirk Rossmann and Ralf Hoppe and 18th volume of “Diaries of a Wimpy Child” by Jeff Kinney.

Consequently, revenues in the “Book” segment increased by 15.9 percent to €78.7 million (previous year: €67.9 million). Other revenue drivers were the steadily widening share of community-driven business models in the New and Young Adult segment with its loyal readership as well as digital audio products. With its range targeted at young adults, the LYX imprint continued to perform very well, growing by 21.2 percent over the previous year, while the audio segment posted an increase of 10.8 percent. New releases by Mona Kasten (“Fallen Princess”) and Hannah Grace (“Icebreaker”) were particular highlights at LYX. The Community Editions imprint, which specialises in publications by social media artists, also made a positive contribution to growth with the successful launch of the “humble but bold” online D2C shop. The cumulative share of revenues contributed by the community-driven business models reached 35 percent in the first nine months of the 2023/2024 financial year.

The “Novel Booklets” segment generated revenues of €5.6 million in the nine-month period, up from €5.3 million in the previous year. The lower volume sales in wholesale press business were offset by price increases and the expansion of subscription and digital business. In addition, catalogue and sales initiatives to mark the publisher’s anniversary had a positive impact.

Group EBIT rose significantly to €11.7 million in the first nine months of 2023/2024, up from €4.8 million in the previous year, while the EBIT margin also widened to 13.9 percent (previous year: 6.6 percent). This is particularly due to the substantially higher revenues compared to the previous year. EBIT in the “Book” segment rose from €4.6 million in the previous year to €11.0 million in the period under review. At €0.7 million in the period under review, EBIT from the “Novel Booklets” segment was also up on the previous year (€0.2 million). In addition to the higher revenues, this was also due to lower paper and printing costs. Group earnings before taxes (EBT) amounted to €11.2 million in the first nine months of 2023/2024 (previous year: €4.6 million). Consolidated net profit for the period reached €9.5 million (previous year: €2.6 million). Accordingly, earnings per share rose significantly to €0.72, up from €0.19 in the previous year.

As of 31 December 2023, total Group assets stood at €112.9 million, up from €107.9 million as of 31 March 2023. At €62.1 million on 31 December 2023, the share of equity attributable to the equity holders of the parent company was €7.3 million higher than on 31 March 2023 (€54.8 million). This reflects opposing effects from the net profit for the period on the one hand and the dividend distribution for the 2022/2023 financial year on the other.
 

Higher full-year forecast confirmed

The Executive Board confirms the forecast for the 2023/2024 financial year, which was increased on 8 January 2024, and continues to expect Group revenues of between €109 and 111 million and EBIT in a range of €12.5 to 13.5 million.

Bastei Lübbe AG's report on the first nine months of the 2023/2024 financial year is available at www.bastei-luebbe.de.

About Bastei Lübbe AG:

Bastei Lübbe AG is a German general-interest publisher based in Cologne, specialising in the publication of books, audio books and e-books featuring fiction and popular science content. The company’s core business also includes the periodically published novel booklets. With a total of fifteen imprints, the group currently offers several thousand titles in the fields of fiction, non-fiction and children’s and young people’s books. In the growing segment of hardcover fiction, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is a driver of innovation in digital media and exploitation channels through the production of thousands of audio and e-books among other things.

With annual revenues of around €100 million (2022/2023 financial year), Bastei Lübbe AG is one of the largest medium-sized companies in the German publishing industry. Its shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information can be found at www.bastei-luebbe.de.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Phone: +49 (0)221 8200 2850
E-Mail: barbara.fischer@luebbe.de