Bertelsmann Achieves First-Half Operating Group Profit Exceeding Half-Billion Euros for the First Time
Bertelsmann had a successful first half of 2017. The international media, services, and education company reports revenue growth, operating EBITDA at a high level, and a first-half operating Group result of over €500 million for the first time in its history. The Group achieved further progress in implementing its growth strategy, and among other major initiatives signed an agreement to increase its stake in the world's largest trade publishing group, Penguin Random House, to a strategic majority of 75 percent. Bertelsmann increased its Group revenues by 2.1 percent to €8.1 billion in the reporting period (H1 2016: €8.0 billion). Organic growth improved to 1.4 percent (H1 2016: 1.3 percent). RTL Group's digital TV businesses, the digital activities of Gruner + Jahr and BMG, Arvato SCM Solutions and the Bertelsmann Education Group in particular developed positively. Growth businesses grew by 9 percent to €2.7 billion (H1 2016: €2.3 billion). For the first time, they accounted for more than 30 percent of total sales. Click Read More below for additional detail.