Gruner + Jahr: Back on track after media crisis - expansion in India
The European magazine publisher Gruner + Jahr felt the effects of higher paper prices and the economic crisis in Spain last year. Although turnover increased slightly from 2.26 billion to 2.29 billion euros compared to the same period in the previous year, profits did not keep pace.
Operating earnings before interest and taxes (EBIT) fell to 233 million euros. In the previous year, EBIT amounted to 260 million. This was announced by the publishing house in Hamburg on Thursday, according to SDA. The result was also impacted by investments in the digital strategy and the launch of new titles in Germany and abroad. Net profit for the year remained at the previous year's level of 160 million euros.
In addition to China, the publishing house has also focused on India. It holds a majority stake in one of the leading digital marketers there, Networkplay Media. The entry into what the publisher describes as a "strategic growth market" was successful with the majority takeover of the publishing house Maxposure in August 2011. A decline in earnings was recorded in Spain. Group CEO Bernd Buchholz was very satisfied with business in Germany after the media crisis. Advertising and circulation revenues increased slightly by 1.7 percent.
