Bastei Lübbe AG, a general-interest publisher listed in the Prime Standard of the Frankfurt Stock Exchange, has reported a successful Christmas business and has raised its forecast for the financial year 2023/2024. Despite macroeconomic and geopolitical challenges, the company has recorded profitable growth and is experiencing strong revenue growth in its community-driven business models.
The New and Young Adult segment, along with the digital audio offering, has been identified as sustainable growth drivers for Bastei Lübbe AG. The publishing brand Community Editions, which focuses on publications by social media artists, has also contributed to the positive development with the successful launch of its online store humble but bold. The company’s attractive program, particularly with bestselling titles such as The Armour of Light by Ken Follett, Das Dritte Herz des Oktopus by Dirk Rossmann and Ralf Hoppe, and Diary of a Wimpy Kid 18 by Jeff Kinney, has also played a key role in its successful Christmas business.
CEO Soheil Dastyari expressed his satisfaction with the company’s progressive full-service publishing strategy and its various entertainment genres, offerings for all age groups, and diverse media channels. He stated, Bastei Lübbe’s strategic focus as a progressive full-service publisher on various entertainment genres, offerings for all age groups and a wide variety of media channels as well as our strong footholds in the digital business are paying off. As a result, we have not only stayed on course in difficult times – we have also gained considerable momentum when visibility improved.
As a result of its successful Christmas business and the strong performance across all channels, Bastei Lübbe AG has increased its revenue forecast for the financial year 2023/2024. The executive board now expects consolidated revenue to be between €109 million and €111 million, compared to the previously communicated forecast of €100 million to €105 million. The company has also raised its EBIT forecast, anticipating a range between €12.5 million and €13.5 million, compared to the previous year’s EBIT of €7.2 million.
Mathis Gerkensmeyer, CFO of Bastei Lübbe AG, attributed the company’s strong revenue growth to its above-average digital share compared to the sector and the growing presence of community-driven business models. He noted, Thanks to the great commitment of our teams, we are growing with increasing profitability and are able to compensate for macroeconomic challenges.
Bastei Lübbe AG will publish its interim report for the first nine months of the 2023/2024 financial year on 8 February 2024, which will be available on their website.
Bastei Lübbe AG is a German general-interest publisher based in Cologne, specializing in books, audio books, and e-books in the fields of fiction, popular science, and children’s and young adults’ books. The company is also known for its innovation in digital media and exploitation channels, producing thousands of audio and e-books.
As the company continues to thrive despite challenges, Bastei Lübbe AG is positioning itself as a leader in the publishing industry, expanding its revenue and exceeding expectations. With its focus on community-driven business models and a wide variety of media channels, Bastei Lübbe AG remains at the forefront of the evolving publishing landscape.
