07.06.2016
Bastei Lübbe AG DE000A1X3YY0
DGAP-News: Bastei Lübbe AG - game publisher Daedalic Entertainment secures broad financing to implement growth plans
DGAP-News: Bastei Lübbe AG / Key word(s): Miscellaneous
Bastei Lübbe AG - game publisher Daedalic Entertainment secures broad
financing to implement growth plans
07.06.2016 / 12:00
The issuer is solely responsible for the content of this announcement.
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Bastei Lübbe AG - game publisher Daedalic Entertainment
secures broad financing to implement growth plans
Cologne/Hamburg, June 7, 2016. Daedalic Entertainment GmbH, an investment
made by Bastei Lübbe AG, which is listed in the Prime Standard of the
Frankfurt Stock Exchange (ISIN DE000A1X3YY0), has secured new long-term
financing. The award-winning game publisher will receive extensive credit
lines from Commerzbank in the double-digit million euro range. The
associated contracts were signed in Hamburg. This means that Daedalic now
has the financial resources it needs for its major growth plans: "We plan
to massively expand our business in the years to come. Now, we have also
secured the liquidity we need at a very early stage," explained Carsten
Fichtelmann, CEO and founder of Daedalic Entertainment GmbH. He also added
that the company's expansion had already begun: "Initial growth steps have
already been taken. We are anticipating a huge jump in revenue already in
2017. We are now initiating the following steps of our growth programme and
will implement multiple licence-games for major Hollywood IPs."
For Bastei Lübbe AG, Daedalic Entertainment, which is based in Hamburg, is
one of the key pillars of the implementation of its international "multi-
channel strategy." Thomas Schierack, CEO of Bastei Lübbe AG, comments: "Our
aspiration is 'to each their own world." Daedalic's games are precisely
what has allowed us to reach a target audience that, to a great extent,
hadn't noticed us yet. This is going to change now."
The game developer Daedalic Entertainment GmbH is considered as one of the
best game developers and publishers in Germany. Daedalic has been part of
the Bastei Lübbe AG consolidated group since the investment was initiated
in 2014 (with a brief interruption). In the 2014 financial year, Daedalic
generated revenue of around EUR 7.2 million and EBITDA of EUR 1.7 million.
For the financial year that has just ended (31 March), the Hamburg-based
game developer has planned a jump in revenue to approximately EUR 10.5
million and EBITDA-based growth to EUR 1.9 million at the same time.
In the coming year, games revenue is expected to grow again in the three-
digit percentage range. "At the moment, we can see synergies from the
content of our traditional publishing house and Daedalic's extensive games
expertise," said Schierack. The video game publisher is currently
developing an entire range of new content with Bastei Lübbe. "This will
shortly lead to a gigantic wave of releases with books from this
collaboration," said Fichtelmann. As a lighthouse project, Daedalic is
implementing a game based on the global bestseller "The Pillars of the
Earth" by Ken Follett. The game will be launched on the market at the end
of 2017.
About Bastei Lübbe AG:
Bastei Lübbe AG is an international media group based in Cologne. Its
business operations focus on developing and licensing content distributed
worldwide physically and digitally. The company's core business includes
the traditional publishing business and the periodical puzzle magazines and
novel booklets in the "Book" segment. With its twelve publishers and
imprints, the group of companies currently offers approximately 3,600
titles in fiction, non-fiction and books for children and young adults. In
the growing segment of hardcover fiction, the company has been the market
leader in Germany for many years. At the same time, Bastei Lübbe is driving
innovation in the field of digital media. As well as the production of
thousands of audio and e-books, the "Digital" segment also includes
holdings in the self-publishing platform "BookRix" and the renowned games
publisher "Daedalic Entertainment". Bastei Lübbe AG's value chain is
completed by the investment in the online shop "beam-ebooks.de" and the new
and internationally unique streaming platform "oolipo".
With currently 334 employees and an annual turnover of roughly EUR 110.2
million (financial year 2014/2015), Bastei Lübbe AG is the largest medium-
sized family company in the German publishing industry. Since 2013, the
company's shares have been listed in the Prime Standard of the Frankfurt
Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0). Further information is
available at www.luebbe.de.
Contact Bastei Lübbe AG:
Barbara Fischer
Director / Vice President
Public Relations
Tel.: +49 (0) 221 / 82 00 28 50
E-mail: [email protected]
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07.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Bastei Lübbe AG
Schanzenstraße 6 - 20
51063 Köln
Germany
Phone: 02 21 / 82 00 - 0
Fax: 02 21 / 82 00 - 1900
E-mail: [email protected]
Internet: www.luebbe.de
ISIN: DE000A1X3YY0, DE000A1K0169
WKN: A1X3YY, A1K016
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart
End of News DGAP News Service
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469693 07.06.2016
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