By Giulia Petroni
Bertelsmann SE & Co. said Thursday that profit and revenue rose in 2021 as it benefited from a strong recovery in advertising markets and a positive performance of its book-publishing and services businesses.
The German media conglomerate said net profit came in at 2.31 billion euros ($2.57 billion) compared with EUR1.46 billion the year earlier.
Earnings before interest, taxes, depreciation and amortization from continuing operations increased to EUR3.24 billion from EUR3.14 billion, while revenue was up to EUR18.70 billion from EUR17.29 billion the previous year.
Net debt stood at EUR959 million, down from EUR2.1 billion.
For the current year, Bertelsmann said it expects a moderate increase in revenue and the operating result to remain stable. Guidance doesn’t reflect the currently unforeseeable impact from Russia’s invasion of Ukraine, it said.
By 2025, the company plans to invest between EUR5 billion and EUR7 billion in order to boost growth, it said.
Write to Giulia Petroni at [email protected]
Credit: www.marketwatch.com /