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DGAP-Adhoc: Bastei Lübbe AG publishes preliminary figures for 2017/2018: Earnings hit harder despite increase in revenue from core business

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DGAP-Ad-hoc: Bastei Lübbe AG / Key word(s): Preliminary Results
Bastei Lübbe AG publishes preliminary figures for 2017/2018: Earnings hit
harder despite increase in revenue from core business

14-Jun-2018 / 13:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*Ad hoc disclosure in accordance with section 17 MAR

Bastei Lübbe AG publishes preliminary figures for 2017/2018: Earnings hit
harder despite increase in revenue from core business *

Cologne, 14 June 2018. According to provisional figures for the 2017/2018
financial year, Bastei Lübbe AG reports consolidated revenue of around EUR
140 million. Based on provisional calculations, EBITDA amounted to EUR 0.5
million (previously: around EUR 5 million), and EBIT totalled minus EUR 18
million (previously: around minus EUR 11 million). Several factors, in
particular, one-time effects, negatively impacted on earnings in the
2017/2018 financial year by around EUR 18 million. These include the loss of
the affiliate BuchPartner GmbH, sold on 31 March 2018, unscheduled
impairment at the affiliates and subsidiaries Oolipo AG, BookRix GmbH & Co.
KG, Beam Shop GmbH and B+M Entertainment GmbH (formerly operating under
Bastei Media GmbH) and an additional negative impact on earnings with no
effect on cash amounting to EUR 8 million for capitalised royalties. The
latter item largely involves a one-time effect stemming from the adjustment
of the expected course of amortization. The detailed analysis of the annual
financial statements resulted in a EUR 3 million higher amortization and
impairment requirement than expected compared to the ad-hoc release of 1
February 2018.

Adjusted for unscheduled impairment on investments as well as the additional
write-downs on capitalised royalties, provisional EBIT in the core business
increased significantly by around EUR 1 million to approx. EUR 3.5 million
compared with the 2016/2017 financial year, this includes the fact that the
fourth quarter was below plan due to high remissions. Revenue in the core
business of book publishing rose by around 20% year-on-year to approx. EUR
85 million.

The subsidiary Deadalic Entertainment GmbH managed in the "Digital" segment
increased its revenue by around 40% to approx. EUR 9 million in the year
under review and fulfilled expectations with EBITDA of around EUR 3 million.
However, the blockbuster game "The Pillars of the Earth", developed at great
expense, failed to perform and sell as expected in the fourth quarter of
2017/2018, meaning that an unscheduled impairment of EUR 3 million had to be
carried out.

The extensive programme launched in January 2018 to generate lasting
efficiency improvements in the core business is continuing. It is aimed at
generating a sustained improvement in the EBIT margin in the core business
by 2 to 3 percentage points to between 6% and 8%.

Despite the balance-sheet adjustment that proved to be higher than expected
in January 2018, Bastei Lübbe AG has the necessary resources to withstand
these high non-recurring negative impacts with an equity ratio of 30%. In
addition, most of these effects have no impact on cash flow and have not
affected the Group's liquidity.

The consolidated financial statements for the 2017/2018 financial year,
including an outlook for 2018/2019, will be published on 31 July 2018 as a
result of a significant increase in work involved in this year's annual
financial statements. The publication of the financial statements was
originally planned for 2 July 2018.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Tel.: +49 (0) 221 / 82 00 28 50
E-Mail: barbara.fischer@luebbe.de

14-Jun-2018 CET/CEST 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
Phone: 02 21 / 82 00 - 0
Fax: 02 21 / 82 00 - 1900
E-mail: investorrelations@luebbe.de
Internet: www.luebbe.de
ISIN: DE000A1X3YY0, DE000A1K0169
WKN: A1X3YY, A1K016
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart, Tradegate Exchange

End of Announcement DGAP News Service

695447 14-Jun-2018 CET/CEST

(END) Dow Jones Newswires

June 14, 2018 07:14 ET ( 11:14 GMT)

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