Bertelsmann reported results for the first half of 2016 on Wednesday morning, with book publisher Penguin Random House recording sales of €1.516 billion (down €181 million, or 10.7 percent, from a year ago), including the wholly-owned RH Germany. EBITDA fell in line with sales, down 10.6 percent to €185 million (or €22 million lower than the same period a year ago.) Those declines came despite persistent strength in the US dollar, which drove the division’s big topline gains in 2015. The average US dollar exchange rate for the first half was 1.1161, compared to 1.1152 a year ago. The British pound did slide […]
