Bertelsmann reported results for the first half of the year on Thursday, with sales at Penguin Random House+ (the PRH joint venture, plus the separate Random House Germany) registering €1.482 billion, down €48 million (or 3.1 percent) overall from a year ago. Operating EBITDA fell further, to €171 million, down 35 million (or 17 percent). The company blamed “high negative exchange rate effects – in particular from the US dollar…among other factors” for the declines. In the investor call, cfo Bernd Hirsch said that “a little bit more than 50 percent” of the drop in EBITDA was due to foreign […]
