Bertelsmann’s 09 Net Loss: First in Three Decades

In German Buch News by Siobhan O'Leary

Bertelsmann Logo

By Siobhan O’Leary

For the first time in three decades, Bertelsmann has posted a net loss — this according to the 2009 fiscal year results announced yesterday in Berlin. The loss amounted to €82 million, which is particularly glaring in light of the €142 million net profit posted in 2008. Bertelsmann blamed at least part of the downturn on sluggish advertising markets but CEO Hartmut Ostrowski remained optimistic that 2010 will bring a return to stability. He emphasized “digitization and the convergence of digital devices” as a source of great potential for the company in the coming year.

About the Author

Siobhan O'Leary

Siobhan O’Leary is a literary agent, translator and writer based in Berlin. She previously worked in the Foreign Rights department of the Crown Publishing Group (Random House) and at the publishing consulting firm Market Partners International.