Less profit for Hamburg publishing house Gruner + Jahr
Difficult market conditions and overcapacity in the gravure printing market had a negative impact on the results of the major Hamburg publishing house Gruner + Jahr last year. In its core business of magazines and online offerings, the publisher continued its growth trajectory of recent years.
Difficult market conditions and overcapacity in the gravure printing market impacted the results of the major Hamburg-based publishing house Gruner + Jahr (G+J), which belongs to Bertelsmann, last year. The gravure printing group Prinovis, in which G+J holds a stake, fell short of the previous year in terms of sales and operating profit, the publisher announced on Thursday, according to SDA. The operating profit fell by 13 million euros to 264 million. Turnover fell to 2.83 (previous year: 2.86) billion euros. The return on sales thus amounted to 9.3 (9.7) percent.G+J continued the growth course of recent years in its core business with magazines and online offerings. International activities proved to be particularly successful, almost doubling earnings.
The yield improved to 9.9 (9.0) percent in 2007. G+J believes it is financially prepared for further growth. Sales and earnings are expected to increase despite further restructuring costs at Prinovis.
G+J is Europe's largest magazine publisher (Stern, Geo, Eltern, Brigitte, Essen & Trinken) and manages more than 500 magazines and digital offerings in 30 countries with 14,400 titles.
