Gruner + Jahr on course for growth

The new slogan of Europe's largest magazine publisher Gruner + Jahr (G+J) is "Expand your Brand". As Group CEO Bern Kundrun announced at the annual press conference on Monday, the company wants to move away from thinking purely in terms of magazines and create brand communities. G+J recorded sales growth of 8 percent to 2.62 billion euros in 2005. This was partly due to the acquisition of Stuttgart-based Motor-Presse and the printing joint venture Prinovis. At the same time, operating profit grew significantly. Adjusted for portfolio effects, sales grew by 1.2 percent in 2005, writes the news agency SDA. This was the first increase in revenue for four years. Operating earnings before interest and taxes rose by 17 percent to 250.3 million euros. The distribution and advertising market remained tense, Kundrun said on Monday. Meanwhile, he continues to rely on the company's "vital culture of innovation. Since 2003, 47 titles have been launched worldwide, compared to 16 in 2005. By 2010, G+J is aiming for a turnover of 3.5 billion euros and plans to open up further countries abroad. The Hamburg-based publishing house is owned by Bertelsmann AG (74.9 %) and the Hamburg-based Jahr publishing family (25.1%).