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PRH half-yearly profits up 55%

Penguin Random House (PRH) parent company Bertelsmann has reported the publisher posted a profit rise of 55.1% and a 10.9% growth in sales for the first half of 2021.

Total revenue for the first sixth months of 2021 was €1.80 billion (A$2.91b), up from €1.63 billion (A$2.63b) at the same point in 2020, while EBITDA (earnings before interest, taxes, depreciation and amortisation) was €324 million (A$523.1m), up from €209 million (A$337.4m).

The top-selling titles in the first half of the year included The Hill We Climb: An inaugural poem for the country (Amanda Gorman), A Promised Land (Barack Obama), The President’s Daughter (Bill Clinton & James Patterson), How to Avoid a Climate Disaster (Bill Gates), The Thursday Murder Club (Richard Osman) and German novel Über Menschen (Juli Zeh).

‘The publishing group benefited from the success of new and established publications and a continuing audio boom in nearly all territories,’ Bertelsmann said. ‘Thanks to its high number of digitally available titles (ebooks, audiobooks) and its state-of-the-art distribution logistics for physical content, Penguin Random House continued to benefit from the accelerated shift to online retail channels.’

PRH’s proposed acquisition of Simon & Schuster, which received antitrust clearance from the UK Competition & Markets Authority in May, is still undergoing regulatory review in the US.

 

Category: International news