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66 Group Management Report Gruner + Jahr Th e leading European magazine publisher Gruner + Jahr recorded a year-on-year decline in revenues and operating EBIT in 2009 as a result of a major slump in advertising and extensive structural changes, but was largely able to cushion the impact of the declining markets. Revenues came in at €2.5 billion, some 9.4 percent lower than the previous year (€2.8 billion), while operating EBIT was down 9.8 percent to €203 million (previous year: €225 million). Return on sales amounted to 8.1 percent (previous year: 8.1 percent). Gruner + Jahr had 13,571 employees at year’s end (December 31, 2008: 14,941). On January 6, 2009, Bernd Buchholz took over as CEO of Gruner + Jahr. His main focus was to implement swift and targeted cost control measures as well as restructuring measures designed to take eff ect in the medium term and to expand new growth segments. In 2009 the performance of the brand business at Gruner + Jahr was largely characterized by the weakened global economy. Th e advertising markets in the core countries of Germany, France and Austria declined by 15 to 20 percent while the Spanish market recorded even greater losses. Th e countermeasures that were introduced took eff ect and were largely able to off set this development. Th e circulation revenues had a stabilizing eff ect during the economic crisis. While the sales environment for businesses in Germany, France and Austria was relatively intact, Spain was also adversely aff ected in this respect. In the period under review the new business segments performed well with the expansion of the client business in advertising and circulation, digital marketing and gaining new corporate publishing customers. Th e German publishing business was driven by strong brands such as “Stern”, “Brigitte”, “Gala”, “Auto Motor Sport” and “Geo”, even though their advertising revenues also fell. Th e ad marketing in the period under review was optimized by a restructuring at G+J Media Sales and the business media editorial offi ces (“Financial Times Deutschland”, “Börse Online”, “Capital” and “Impulse”) were merged. Th e editorial offi ces for the Living titles were also restructured. Gruner + Jahr launched several magazines, such as “Nido”, “Geomini”, “Gala for Men”, “Business Punk” and “Beef!”. Th e titles “Emotion” and “Healthy Living” were sold or brought into a joint venture respectively. Revenue Breakdown 3.0 2.0 1.0 0 €2.8 billion (0.1) % 0.3 % (9.6) % Exchange rates Portfolioand other effects Organic growth €2.5 billion 2008 Change 2009 Th e performance of the Gruner + Jahr International businesses was highly varied: In China, the continued positive development of the publishing subsidiary Boda was reinforced by a successful expansion of the portfolio of titles. In France, Prisma Presse steered a successful path through the crisis in the advertising and circulation market and gained market share; meanwhile, there was a management change at the French subsidiary during the period under review. In Spain, comprehensive restructuring measures were implemented, while Gruner + Jahr pulled out of the Russian market due to a lack of future prospects. Th e revenues and operating EBIT of key Gruner + Jahr holdings were signifi cantly reduced as a result of the economic crisis. Th e declining order volumes made it necessary to implement a signifi cant impairment on property, plant and equipment at Prinovis. Meanwhile, the U.S. print shop Brown Printing proved to be comparatively crisis-proof and the Dresdner Druck- und Verlagshaus even managed to improve its operating EBIT yearon-year. In Germany and in other countries, G+J journalists again won many prizes for their work in 2009. Revenues by Region in percent* 10.3 U.S. 41.4 Other European countries * Without intercompany revenues 2.7 Other countries 45.6 Germany Bertelsmann Annual Report 2009
Company | Group Management | Group Financial | Corporate Governance | Report of the | Boards/Mandates | Additional Information Report Statements Supervisory Board Arvato In 2009 the media and communications service provider Arvato fell slightly short of the high revenue levels achieved in the previous year primarily due to lower order volumes and customer insolvencies; operating EBIT was also down year on year. Revenues of €4.8 billion were 3.3 percent lower than the previous year (€5.0 billion) and operating EBIT was €345 million, compared to €369 million in the previous year (-6.5 percent). Th e return on sales was 7.1 percent (previous year: 7.4 percent). Arvato had 60,323 employees at year-end (December 31, 2008: 62,591). In the year under review, Arvato was largely able to off set the loss of revenues caused by the impact of the economic crisis thanks to new orders and extended services. Process and cost optimizations implemented at an early stage also had a positive eff ect on operating EBIT. Arvato Services performed diff erently in individual markets and segments: while the service center activities in France were expanded further, the customer care businesses in other core markets reported lower volumes on existing contracts. Arvato Services comprehensively expanded its logistics network in 2009, for example with dynamically growing supply chain management activities in China and India, the takeover of a telecommunications logistics provider in Germany and the establishment of a European distribution center in Gütersloh for customers from the games industry. Despite falling advertising budgets, the customer retention businesses achieved further growth in revenues and operating EBIT, and international fi nancial services also performed well. Arvato Print gained additional market shares in 2009. Whereas the Arvato print units in Germany and the U.S. performed relatively well in a diffi cult market situation, the businesses in Southern Europe were under pressure. Arvato Print continued to drive forward development to become an integrated service provider for all aspects of print production. For example, the Print Group added the print management business segment to its service portfolio, and with Reader Digest Inc., gained its fi rst major international customer in this growth segment. Th ere were impairments on the Prinovis gravure printing group, which Arvato operates in conjunction with Gruner + Jahr and Axel Springer AG, and also on the print business in Italy. Th e Prinovis businesses in the U.K. performed well, whereas the performance in Germany was marked by the diffi cult market situation and restructuring measures. Bertelsmann Annual Report 2009 Revenue Breakdown 5.0 4.0 3.0 2.0 1.0 0 Th e production and service businesses dealing with digital storage media remained stable in 2009. Despite globally declining CD and DVD production volumes, Arvato Digital Services was able to increase its own market share by consistently expanding its integrated range of solutions. In addition, the international production capacities for the high resolution Blu-ray format were further expanded. In Germany, Arvato Digital Services expanded its service portfolio by taking over Universal Music Group’s central media archive. Th e electronic software distribution business segment was strengthened through the takeover of the Canadian technology provider Protexis and the establishment of further Microsoft webshops in Europe and Australia. Th e Inmediaone direct marketing organization increased its revenues and operating EBIT in 2009, and through its subsidiary Wissenmedia, acquired the rights to the Brockhaus brand, including all content and inventory. Th e IT service provider Arvato Systems also reported a positive balance sheet, having maintained last year’s good operating EBIT. Revenues by Region in percent* 10.8 U.S. €5.0 billion 2008 Change 2009 40.9 Other European countries (0.1) % * Without intercompany revenues 0.0 % (3.2) % Exchange rates Portfolio- Organic and other effects growth €4.8 billion 6.1 Other countries 42.2 Germany 67
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