Group Interim Management Report

Bertelsmann recorded a successful first half of 2021, exceeding the revenue and profit levels of the period prior to the outbreak of the coronavirus pandemic. The Group saw revenues rise by 10.7 percent to €8.7 billion (H1 2020: €7.8 billion), driven by strong organic growth of 16.6 percent. In addition to the recovery of the advertising-financed businesses, the positive performance of the book publishing and services businesses was the main contributor to this increase. Operating EBITDA increased to €1,417 million (H1 2020: €994 million). The television and production business, the book publishing business and the services business Majorel and Supply Chain Solutions in particular saw strong earnings growth. The EBITDA margin improved to 16.3 percent (H1 2020: 12.7 percent). Driven by the positive operating earnings development and high disposal proceeds in the reporting period, Group profit increased to €1,368 million after €488 million in the same period last year. For 2021 as a whole, Bertelsmann continues to anticipate positive business performance.

Revenues in € billions

Revenues in € billions
  • Revenue up by 10.7 percent, organic revenue growth of 16.6 percent
  • Revenue increases primarily at RTL Group, Penguin Random House

Operating EBITDA in € millions1)

Operating EBITDA in € millions<sup>1)</sup>
  • Increase in operating EBITDA by €423 million to a new record level of €1,417 million
  • EBITDA margin of 16.3 percent,3.6 percentage points above same period last year

Group Profit in € millions

Group Profit in € millions
  • Group profit more than doubled to €1,368 million
  • Improved operating development and high earnings contribution from disposal proceeds
1) Figure adjusted for H1 2020.