Now sees FY continuing ops revenue, earnings significantly up (Il Sole 24 Ore Radiocor) - Berlin, 28 Aug - German media group Bertelsmann said that in the first half revenue fell 7.5% to 9.0 billion euros due to the sale of Majorel last year while organically it grew 3.7% compared with a 2.3% increase a year ago, with most divisions contributing to the increase.

Adjusted operating EBITDA came in at 1.249 billion euros compared to 1.275 billion the earlier year with Penguin Random House, BMG, Bertelsmann Marketing Services, Bertelsmann Education Group, and Bertelsmann Investments achieving double-digit earnings growth, thanks in part to the Group-wide Boost investments program. Adjusted for the sale of Majorel, adjusted operating EBITDA rose 14%.

Group profit increased by 60% to 416 million euros.

'Bertelsmann continues to expect an overall positive business performance for the full year. We are raising our Group forecast for 2024, and expect to see a significant increase in revenues and earnings in our continuing operations. Due to the already completed sales of Majorel and DDV Mediengruppe, we expect a moderate decline in revenues and earnings," said chief financial officer Rolf Hellermann.

Previously it expected a moderate increase in revenues and earnings from continuing operations.

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(RADIOCOR) 28-08-24 10:02:13 (0199) 5 NNNN