Bonnier Books reported results for the full year 2024, with net sales of SEK 8.39 billion, up 4 percent from 2023—a record for the company. EBITDA fell 10 percent to SEK 684 million, though they say “adjusted for items affecting comparability, [the number] represents an improvement of SEK 176 million.” Sales improved in Sweden, Finland, and the UK, and Germany “once again had a good year.” The books and news segments contributed to overall success for the company, ceo Erik Haegerstrand said in a release. Overall group net sales increased slightly to SEK 23.19 billion and EBITDA was “the highest […]
Publishers
Higher Ed Inches Up at Pearson
Pearson released a preliminary report of their full year 2024 results, with sales of £3.55 billion, compared to £3.67 billion in 2023, down due to currency fluctuations. Excluding businesses under strategic review, the company reports sales up 3 percent, due to growth in all segments except virtual schools. Operating profit was £541 million, up 9 percent from the previous year, “driven by increased trading profits, a reduction in property and intangible amortization charges, a lower year on year net loss from acquisitions and disposals, partially offset by one off UK discretionary pension charges,” according to a release. Adjusted operating profit […]
Hachette Book Group Grew 7 Percent in 2024
Lagardere announced results for the fourth quarter and full year, with quarterly publishing sales flat at €799 million. For the year, sales were €2.87 billion, up 2.2 percent as reported and 1.9 percent on a like-for-like basis. EBITDA grew 34.7 percent to €295 million and recurring EBIT gained 14 percent to €593 million. In the US, sales at Hachette Book Group for the year were up 7 percent, boosted by books including The Wild Robot by Peter Brown, The Housemaid by Freida McFadden, and Eruption by James Patterson and Michael Crichton. In a statement, ceo David Shelley said that the […]
Christian Publishing, Digital Sales Up at Harper Collins
News Corp announced results for the second quarter ended December 31, reporting sales at Harper Collins of $595 million, up 8 percent. On a call with investors, News Corp ceo Robert Thomson attributed the growth to Bible sales and strong performance from Harper Collins UK. Top titles in the quarter included Cher’s memoir, Gregory Maguire’s Wicked, and Laurie Gilmore’s The Pumpkin Spice Café. EBITDA grew 19 percent to $101 million due to the increase in overall sales in print and digital, “partially offset by higher manufacturing costs due to higher sales volume and higher employee costs.” The company reports that […]
Pearson to Release AI Skill-Building Tools with Microsoft
Pearson released a brief trading update for the fourth quarter and the full year 2024, and announced an AI partnership with Microsoft. Pearson and Microsoft will release a series of educational tools designed to help people build AI skills “through new AI credentials and certifications.” The companies will also collaborate on a series of AI tools to build workforce skills and learn the English language. Pearson will also expand their use of Microsoft’s AI Copilot tool “across its workforce.” They say in a release, “This is part of an ongoing effort to introduce workplace AI tools that enhance efficiency, creativity, […]
Scholastic Institutes Layoffs As Sales Fall in Q2
Scholastic reported financial results for the second quarter ended November 30, with sales of $545 million, down 3 percent, an expected outcome due to the timing of the company’s big book publications. Operating income dropped 26 percent to $74.4 million with adjusted EBITDA down 12 percent to $108.7 million due to lower sales in the children’s publishing and distribution and education solutions segments. In Children’s Publishing and Distribution, sales were down 6 percent to $367 million with operating income down 9 percent to $102.1 million. Trade books sold $103 in the quarter, down 13 percent, due to lower frontlist sales […]