Bertelsmann's revs gain 6.9%
Bertelsmann publishes only revenues, not profits, but stated that the company's profit-sharing certificates are expected to yield another 15% dividend in November.
One of the very few company divisions posting a drop in revenues is Electronic Media, which posted total revenues of DM237 million ($ 144.78 million), a 4.8% drop from the last period.
The company said the figure did not accurately reflect the division's pro-rata returns from minority shareholdings, including private TV venture RTL. RTL has grown to be Europe's most successful private TV station in terms of revenues during the past year.
Electronic Media, which embraces the film, broadcast, production and licensing company Ufa, had been Bertelsmann's fastest-growing division. It showed a 27% growth in its activities in the 1991-92 business year.
Ufa has launched two additional private TV stations in Germany since January.
BMG, the music division, posted the highest growth since the last period, DM2 .44 billion ($ 1.44 billion), or a 12.1% gain.
Last year BMG acquired 50% interests in U.S. labels Windham Hill and Private Music, as well as concluding joint marketing venture with Fox for soundtrack recordings.
Publishing and book clubs, Bertelsmann's major field of activity, showed revenue gains.
Bertelsmann reported that despite an investment of DM374 million ($ 228.46 million) in the first half-year, the net debt was repaid and a cash surplus was gained. Despite the recession, Bertelsmann said, its U.S. interests showed profits.
Chief financial officer Siegfried Luther said that the conglomerate will strengthen its equity base in the coming six months. "We are looking to good prospects," he said. "(but) we appreciate that our business activities cannot always expect to remain largely and automatically independent of the economic environment."
