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Bastei Lübbe AG distributing record dividend after achieving best full-year earnings since going public

·5-min read

DGAP-News: Bastei Lübbe AG / Key word(s): Dividend/AGM/EGM
Bastei Lübbe AG distributing record dividend after achieving best full-year earnings since going public
15.09.2022 / 11:32 CET/CEST
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe AG distributing record dividend after achieving best full-year earnings since going public

  •  Executive Board outlines growth course underpinned by community-driven and digital business models

  • Carsten Dentler new Chairman of the Supervisory Board

  • Executive Board and Supervisory Board exonerated with a large majority

  • Dividend of 0.40 euros approved at Bastei Lübbe AG’s annual general meeting

 

Cologne, 15 July 2022 – Cologne-based general-interest publisher Bastei Lübbe AG (ISIN DE000A1X3YY0) yesterday held a physical annual general meeting for the first time in two years. The shareholders present in Cologne followed the Executive Board’s report on financial year 2021/2022 and the outlook for the current financial year. In particular, they approved the recommendations of the Executive Board and the Supervisory Board concerning the distribution of a dividend of 0.40 euros for the past financial year. The total dividend stands at 5,280,040.00 euros, equivalent to a payout ratio of 47 percent of the distributable profits. Based on the closing price of 6.20 euros on 9 September 2022, this translates into a dividend yield of 6.5 percent. The Executive Board and the Supervisory Board were exonerated with a large majority. In addition, the shareholders approved all the other items of the agenda, thus adopting management’s proposals with substantial majorities.

Upon the conclusion of the annual general meeting for 2021/2022, the Chairman of the Supervisory Board Robert Stein stepped down from this position at his own request. Carsten Dentler was elected to the Supervisory Board and named new Chairman of the Supervisory Board at the constituent meeting following the annual general meeting.

“I would like to thank the shareholders for their great approval and the confidence they have expressed. Bastei Lübbe is a strong, well-known and innovative brand in the German book market. I am particularly looking forward to working with the other members of the Supervisory Board in the future. Our joint goal will be to support the Executive Board and the company in its continued development,” says Carsten Dentler.

The Executive Board of Bastei Lübbe made use of the meeting with the shareholders to outline its future corporate strategy. Particular emphasis was placed on the community-driven publishing brands, such as LYX, CE Community Editions, ONE and smarticular, whose business models are to be expanded in a targeted manner. The Group’s future digital growth strategy was also explained and a preview of the autumn and winter programme given.

“We were pleased to have the opportunity of exchanging views directly with our shareholders at the annual general meeting for the first time in two years, especially since we were able to announce the best full-year earnings and the highest dividend since the IPO in 2013,” says Soheil Dastyari, CEO of Bastei Lübbe.

In addition to the opportunities offered by community models and the targeted expansion of digital business with eBooks and audiobooks, the Executive Board also mentioned the growing challenges posed by supply chain problems, inflation and declining consumer spending. Among other things, printing and paper costs have risen significantly in recent months. However, the company remains confident that it will achieve the full-year targets for 2022/2023 that it confirmed in the quarterly report as of 30 June 2022.

The detailed voting results as well as the Executive Board’s presentation can be found at: https://www.luebbe.com/de/investor-relations/hauptversammlung


About Bastei Lübbe AG:

Bastei Lübbe AG is a German general-interest publisher based in Cologne, specialising in the publication of books, audio books and e-books featuring fiction and popular science content. The company’s core business also includes the periodically published novel booklets. With a total of fifteen imprints, the group currently offers several thousand titles in the fields of fiction, non-fiction and children’s and young people’s books. In the growing segment of hardcover fiction, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is a driver of innovation in digital media and exploitation channels through the production of thousands of audio and e-books among other things.

With annual revenues of around 95 million euros (2021/2022 financial year), Bastei Lübbe AG is one of the largest medium-sized companies in the German publishing industry. Its shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information can be found at www.luebbe.de.


15.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Bastei Lübbe AG

Schanzenstraße 6 – 20

51063 Köln

Germany

Phone:

02 21 / 82 00 - 0

Fax:

02 21 / 82 00 - 1900

E-mail:

investorrelations@luebbe.de

Internet:

www.luebbe.de

ISIN:

DE000A1X3YY0

WKN:

A1X3YY

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1443207


 

End of News

DGAP News Service

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