Stable Revenues at Bertelsmann

BERLIN: Full-year revenues at Bertelsmann were stable at 16.1 billion euros, with a profit of 270 million euros, down from the year ago period’s 405 million euros.

“Bertelsmann made good progress in 2008," said the company’s chairman and CEO, Hartmut Ostrowski. "We disposed of shrinking parts of the business and are in a much better strategic position today than just twelve months ago. Bertelsmann now commands good or excellent market positions in nearly all of our businesses, and our operations are strong."

He continued: “Our business performance and our solid financial foundation give us the necessary backing for the challenges ahead in 2009. The global economic crisis with its implications for consumer behavior and ad bookings will be a severe test for some areas of Bertelsmann, too. Our focus is currently on safeguarding our businesses, our high profitability and our liquidity. This primarily means cost discipline and restraint in our investments, but also an increased focus on gaining market share and entrepreneurial innovations. We feel well equipped with our broad business and geographic distribution and our entrepreneurial setup.”