Bertelsmann Delivers Profit Gains

GÜTERSLOH, November 11:
For the first nine months of the year, Bertelsmann has reported a profit of 387
million euros, almost triple that of the year-ago period.

Revenues, meanwhile, were
flat at 11.4 billion euros, while operating EBIT was down slightly to 926
million euros.

Announcing the results,
CFO Thomas Rabe noted: "Bertelsmann is strategically well positioned and
financially sound, which represents a competitive advantage in the current
difficult market situation. Our businesses have a good risk diversification; we
have a long-term orientation and a balanced maturity profile of our capital
market liabilities. For the full year 2008, we are expecting slightly higher
revenues than in the comparable period of the previous year for continuing
activities. In view of the subdued economic outlook, operating EBIT will come
in 5- to 10-percent lower year-on-year, while EBIT and consolidated net income
are expected to rise significantly given the elimination of certain special
items and lower tax expense."

—By Mansha Daswani