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Bastei Lübbe AG makes impairment adjustment to subsidiary and lowers earnings forecast for fiscal year 2022/2023

Bastei Lübbe AG / Key word(s): Change in Forecast/Preliminary Results
Bastei Lübbe AG makes impairment adjustment to subsidiary and lowers earnings forecast for fiscal year 2022/2023

04-Nov-2022 / 17:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe AG makes impairment adjustment to subsidiary and lowers earnings forecast for fiscal year 2022/2023

Cologne, Germany, November 04, 2022 - Based on the available preliminary figures, the rising costs of production, and an impairment of the carrying amount of the subsidiary smarticular, the Executive Board now assumes that the general-interest publisher Bastei Lübbe AG (ISIN DE000A1X3YY0) will generate an operating result (EBIT) in the range of 6.0 to 7.0 million euros in the full fiscal year 2022/2023 (previous forecast: 9.5 to 10.5 million euros). The EBIT margin will then be 6.5 to 7.5 percent (previously: 10 to 11 percent). Excluding the impairment loss on the carrying amount of smarticular, the operating EBIT margin would be 8.5 to 9.5 percent. Revenues are still expected to be in the range of 90 to 95 million euros.

Based on preliminary figures for the first half of the 2022/2023 fiscal year, Bastei Lübbe AG achieved its revenue targets of 44 million euros as of September 30, 2022, but its preliminary EBIT of 0.9 million euros is below its own expectations. The main reason for this is the lower earnings contribution from smarticular, which led to the above-mentioned value adjustment of € 2.0 million. In addition, higher than expected prices for paper and printing also had a greater impact on the core business in the half-year figures.

Bastei Lübbe will publish the complete half-year report for the 2022/2023 fiscal year on November 10, 2022.

 

Contact Bastei Lübbe AG:

Barbara Fischer
Head of Press and Public Relations
Phone: +49 (0)221 8200 2850
E-mail: barbara.fischer@luebbe.de

04-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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:

1479885


 

End of Announcement

EQS News Service

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