Business News

Nine-Months Figures 2010: Bertelsmann Continues Successful Performance

Thursday 11. November 2010 - Revenues up 3.5 percent to €11.0 billion; Operating EBIT surges to €1.1 billion; Group result soars to €357 million

Business at Bertelsmann continues positive: the Group’s revenues, operating EBIT and result for the first nine months of 2010 were well above the previous year’s values. This development was fuelled by a recovery in the overall economy including an upturn in the advertising industry; long-view cost measures; and a brisk business performance both in conventional and digital media.
Revenues from continuing operations increased to €11.0 billion in the reporting period, 3.5 percent above the previous year’s comparable value of €10.6 billion. The international media company recorded a surge in profits, both in Operating EBIT and in Group result. Operating EBIT from continuing operations amounted to €1.1 billion, exceeding the previous year’s value of €784 million by 34.3 percent. At 9.6 percent (previous year: 7.4 percent), Return on Sales continued on a high level. As of the end of September 2010, Bertelsmann reported profits of €357 million, after €-246 million in the same period of the crisis-ridden previous year.
Given this positive business performance, Bertelsmann confirmed the raised forecast issued at the half-year: an increase in revenues and Operating EBIT, Return on Sales at around 10 percent, and Group result of more than €500 million for the full fiscal year 2010.
Overview of key figures (€ million)
Jan 1, 2010 – Sep 30, 2010
Jan 1, 2009 – Sep 30, 2009
Consolidated revenues
11,007
10,637
Operating EBIT by division
Corporate/consolidation
Operating EBIT
1,121
(68)
1,053
851
(67)
784
Special items
(33)
(360)
EBIT
1,020
424
Financial result
(415)
(285)
Earnings before taxes from continuing operations
605
139
Income taxes
(190)
(178)
Earnings after taxes from continuing operations
415
(39)
Earnings after taxes from discontinued operations
(58)
(207)
Group profit or loss
357
(246)
attributable to Bertelsmann shareholders
259
(305)
attributable to non-controlling interests
98
59
Investments
570
527
Balance as of Sep 30, 2010
Balance as of Dec 31, 2009
Net financial debt
2,632
2,793
Economic debt*
5,986
6,024
Employees
101,058
102,704
The corresponding figures for the previous period have been adjusted in accordance with IFRS 5.
*Net financial debt plus provisions for pensions, profit-participation capital and present value of operating leases (continuing operations). Provisions for pensions have increased from €1,406 million to €1,878 million, mainly due to the discount rate, which has decreased by 1.5 percentage points.