Bertelsmann reported results for the first half of the year on Tuesday morning, with book publishing as one its more resilient divisions during the pandemic. Sales at Penguin Random House were down 1.4 percent, or €23 million, at 1.627 billion. Operating EBITDA was 7.9 percent lower, at €209 million, €18 million lower than a year ago. As at other publishers, a 15 percent increase in digital sales (which had been roughly 20 percent of overall sales) helped offset declines in print sales during the pandemic. Unlike other publishers, remember that PRH’s accounting practices now count the full consumer price paid […]
