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Berlin (pte045/25.03.2003/16:16) - The Bertelsmann Group http://www.bertelsmann.de increased its operating profit by 63 per cent to 936m euros in 2002 - in spite of a 3.5 per cent drop in group turnover to 18.3bn euros.
The media group attributes its weak turnover to slow advertising and the weak dollar, as well as the shrinking music market. By focusing on its core business, the group was nevertheless able to increase its earnings. At a Berlin press conference today, a Bertelsmann spokesman said "creative success in domestic business" had contributed to the significant improvement compared to 2001. According to the company, with the exception of the DirectGroup all subsidiaries made a profit.
"Bertelsmann has concentrated its energies on its core business, reduced its sources of loss and significantly increased its profitability," said Bertelsmann head Gunter Thielen. The company plans to further increase its financial margin through the sale of the BertelsmannSpringer publishing house.
Up to 31.1 per cent of Bertelsmann's turnover was made in Germany, 35.5 per cent in other European countries, 27.5 per cent in the USA and 5.9 per cent in other non-European countries. In 2002 the RTL group achieved a turnover of about 4.4bn euros.
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