26 August 2021
Highlights
• Revenue up 19.1%, mainly driven by the acquisition of Vandenhoeck & Ruprecht Verlage (V&R)
• Organic revenue growth 3.9%
• COVID-19 accelerates the shift from print to digital
• Very strong eBook sales with 14.9% organic growth
• Journals decline due to timing of releases
• EBITDA up 9% excluding the V&R acquisition
• Net profit includes V&R acquisition integration costs of EUR 618 thousand
• Wim Dikstaal appointed as CFO and Management Board member per September 1
• New financing agreement with RABO signed
Peter Coebergh, CEO commented: “The highlight of the first HY 2021 was the acquisition of Vandenhoeck & Ruprecht (V&R) in February. Together with our new German and Austrian colleagues we have started the integration process which runs on schedule. So far the performance of V&R is in line with expectations. We are satisfied with the underlying revenue and profit development at Brill and are still benefiting from cost savings due to limited travel. Last year’s acceleration of our eBusiness continues and compensates the ongoing decline in print book sales. In a still uncertain market environment Brill continues to execute its strategic agenda to become a fully digitally driven publishing house and to grow our revenue, profit and scale”.