Bertelsmann is growing increasingly assured.
Bertelsmann sees a boost in its full-year projections for 2024, despite a 7.5% dip in half-year revenue to approximately €9 billion, mainly due to the divestment of Majorel. Organically, revenues expanded by 3.7%.
CEO Thomas Rabe stated, "We've reached the highest revenue share in the U.S. within our group for the first time." The company's Boost program is in full swing, with investments totalling €1 billion in the initial half and over €4.5 billion since its launch.
Although the sale of Majorel and DDV Mediengruppe is anticipated to bring about a slight reduction in revenue and profit in 2024, CFO Rolf Hellermann added, "We're elevating our 2024 group forecast and expect a substantial expansion in revenue and profit in our core operations."
Operating profit (adjusted EBITDA) dipped around 2% to €1.2 billion during the first half, but with Majorel's sale factored out, it experienced an increase of 14%. Bertelsmann's net profit realized a significant jump of 60% to €416 million.
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Despite the economic impact of divesting Majorel, Bertelsmann remains optimistic about its full-year projections for 2024, as the economy of its core operations is expected to expand significantly. The company's strategic investments, such as the Boost program, have contributed to the strengthening of the economy within its group.
