Bertelsmann reported results for the first six months of the year on Wednesday morning, with Penguin Random House recording sales €2.098 billion—up 9.5 percent versus €1.916 billion a year ago, due to a mix of acquisitions, international growth and the strength of Prince Harry’s memoir SPARE. But operating EBITDA remained flat even with the sales increase, at a relatively modest €258 million (compared to €257 a year ago, and a record €324 million in 2021). Interim ceo Nihar Malaviya wrote to staff that the flat earnings “should come as no surprise, as industry inflationary cost pressures and increased costs across […]
