Bertelsmann reports 2011 revenue growth

Bertelsmann reports 2011 revenue growth

Random House parent company Bertelsmann has reported slight revenue growth for the 2011 fiscal year, up to €15.3bn (£12.8bn) from €15.1bn (£12.6bn) in 2010, with "rapidly growing e-book sales" offset by losses in other areas of the business which contributed to a slight drop in operating profit.

In a statement announcing the international media company’s preliminary figures for 2011, Operating EBIT across the businesses was at €1.7bn for 2011 (£1.4bn), down on 2010's €1.8bn (£1.5bn). Organic growth, adjusted for portfolio and currency effects, came to about 2%. Operating EBITDA reached approximately €2.2bn (£1.8bn), down on €2.4bn (£2.01bn) the previous year, with net financial debt remaining at €1.9bn (£1.6bn).

The group's return on sales was at 11%, and the statement said: "A good performance of the advertising-driven businesses and rapidly growing e-book sales were offset by planned start-up losses for new growth platforms and the weak business performance of some of the printing operations, as well as declines in the replication and direct-marketing businesses."

The full and audited annual financial statement will be published on 28th March.