BMG parent Bertelsmann today (Nov. 9) posted a 14% boost in core earnings in the three months to September compared to the previous year.
The Gütersloh-based media group says operating earnings before interest and tax (EBIT) were €216 million ($279 million) against €189 million ($244 million) in the corresponding period last year. Sales during the period were stable at €3.8 billion ($4.9 billion).
In the first nine months of the year, Bertelsmann reports net profit more than quadrupled to €521 million ($673 million). The media group does not break down third-quarter results for its units.
“Business has been very gratifying in the year to date,” says CFO Siegfried Luther in a statement. “We look to the fourth quarter with confidence and continue to expect an improved operating result and slight organic revenue growth for the year 2004 despite a restrained economy.”
The group says “special effects” from the merger of BMG with Sony Corp.’s music division were not included in the third quarter figures; it did not indicate when those details would be published.