First Half Sales Slipped 1.4% at PRH (

Increases in sales of e-books and digital audiobooks and higher online sales helped to cushion the financial impact of the Covid-19 pandemic at Penguin Random House, parent company Bertelsmann reported this morning. Total revenue in the first half of 2020 fell 1.4% at PRH from the comparable period a year ago, dropping to €1.63 billion. EBITDA (earnings before interest, taxes, depreciation, and amortization) fell 7.9%, to €209 million. In April, Bertelsmann also acquired the remaining 25% stake in PRH that had been held by Pearson.

The U.S. had the best performance among PRH’s international companies, with sales rising 5.2%, to €990 million. “The coronavirus pandemic had a negative impact on the company’s businesses due to the extensive closures of local bookstores,” Bertelsmann reported. “In contrast, the US business demonstrated particular resilience, partially offsetting reductions in other countries.”
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