Group Interim Management Report

In the first half of 2019, Bertelsmann reported a successful business performance with improved organic growth and a high operating profit. Group revenues rose 4.6 percent to €8.6 billion (H1 2018: €8.2 billion) driven by organic growth of 3.2 percent. In addition to the book publishing business, the Group’s strategic growth platforms were the main contributors to this, especially Fremantle, the digital businesses of RTL Group, BMG, Arvato Supply Chain Solutions and the Bertelsmann Education Group. Operating EBITDA increased to €1,292 million (H1 2018: €1,071 million). In addition to the positive business performance, the significant increase is also attributable to the first-time application of the new financial reporting standard IFRS 16 Leases. The EBITDA margin increased to 15.0 percent (H1 2018: 13.0 percent). At €502 million, Group profit once again exceeded half a billion euros (H1 2018: €501 million). For 2019, Bertelsmann anticipates continued positive business performance.

Revenues in € billions

Revenues in € billions
  • Revenue growth of 4.6 percent, improved organic growth of 3.2 percent
  • Continued expansion of growth businesses with strong organic revenue growth

Operating EBITDA in € millions

Operating EBITDA in € millions
  • Increase in operating EBITDA to €1,292 million, attributable in part to new financial reporting standard, on a comparable basis above the high prior-year level
  • EBITDA margin of 15.0 percent compared to 13.0 percent during the same period last year

Group Profit in € millions

Group Profit in € millions
  • Group profit exceeds high level of the same period last year
  • Negative impact from special items and higher other financial expenses in the financial result