Bertelsmann reported results for the first six months of the year, with Penguin Random House declining on an organic basis by 1.8 percent — though topline sales still rose by 6.3 percent, due to the weakness of the euro. Sales for the period were €1.916 billion, compared to €1.804 billion a year ago. Earnings were down by both measures, with EBITDA of €257 million, compared to €324 million a year ago. The company noted, “Adjusted for exchange-rate effects, revenue and earnings declined, given the inflationary pressure and supply-chain challenges.” You can see the dual effect on PRH US sales — […]
