Bertelsmann off to a successful start in 2006

The international media company Bertelsmann recorded significant revenue and earnings growth in the first quarter of 2006. According to a press release, consolidated revenues rose by 17.3 percent from 3.8 billion euros to 4.5 billion euros. Operating EBIT grew by 35.2 percent to 215 million euros and reached a record level. The company's profit doubled: after €48 million in the same quarter last year, it amounted to €90 million for the first three months of 2006. Bertelsmann invested around 309 million euros and, as expected, debts amounted to 3.9 billion euros. Since December 31, the number of employees has risen from 88,516 to 89,409.

Bertelsmann reports that the positive business development in the divisions is responsible for this development and confirms the forecast of a noticeable improvement in revenues and earnings for 2006. A possible partial IPO in the course of the year remains to be seen.