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Bertelsmann ups profit forecast

August 31, 2015

German media giant Bertelsmann significantly boosted its year-on-year revenues in the first half of 2015. Earnings before interest, tax and depreciation reached levels not seen since 2007.

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Bertelsmann CEO Thomas Rabe Photo: Clemens Bilan/dapd
Image: Clemens Bilan/dapd

Bertelsmann on Monday reported a 55-percent jump in half-year net earnings to 398 million euros ($446 million).

Operating profit climbed by 4.4 percent to 1.063 billion, marking the best 6-month result in the company's history.

Revenues rose by 2.5 percent to over 8 billion euros for the January-to-June period, hitting levels last seen back in 2007.

Rosy outlook

"We're very satisfied with the development of the past months," said Chief Executive Thomas Rabe (pictured). "Our businesses' high profitability gives scope for investment."

Rabe said he expected both earnings and underlying sales to increase in the whole of 2015, building on the strong performance in the first six months.

Bertelsmann is family-owned and not listed on the stock exchange. It owns television group RTL and magazine publisher Gruner + Jahr, and has a 53-percent stake in book publisher Penguin Random House.

Rabe indicated his company was considering buying Pearson's minority stake in Penguin Random House at a later stage.

hg/uhe (AFP, Reuters)