Bertelsmann reported that its first-quarter profit attributable to shareholders increased to 174 million euros from 108 million euros in the same quarter last year.
Net income improved by 43 percent to 207 million euros from the previous year's 145 million euros. The increase in earnings was driven by increased profitability in almost all the core businesses, and gains from the acquisition of full ownership in the music rights company BMG, which was completed at the end of March.
Operating EBIT from continuing operations for the quarter increased to 303 million euros from the prior year's 279 million euros.
Quarterly earnings before taxes from continuing operations were 315 million euros, up from 199 million euros last year.
Consolidated revenues from continuing operations for the quarter declined to 3.63 billion euros, from the previous year's 3.66 billion euros.
Thomas Rabe, Chairman and CEO of Bertelsmann, said: "In a challenging market environment, our businesses again expanded their high profitability over the past few months...... In recent weeks, we have strengthened two growth platforms with the acquisition of full ownership in BMG and the takeover of the financial services provider Gothia. We are also confident that we will complete the combination of our book publishing group Random House with Penguin early in the second half of the year - since February, we have received important regulatory approvals in the U.S., Europe and other markets. These three transactions will result in considerable overall growth for Bertelsmann in 2013."
Bertelsmann is an international media company whose core divisions encompass television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 countries.
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