2009 a Record-Breaking Year for Hachette
Lagardere Publishing, which includes Hachette Book Group, delivered an all-time record performance in 2009, parent company Lagardere SCA reported. The publishing group's total earnings before interest and taxes (EBIT) increased 24 percent to approximately 455 million dollars.
The majority of this approximately 87-million-dollar gain came from the United States, boosted by the success of Stephenie Meyer's "Twilight" saga, according to a Lagardere press release. The success of several other Hachette titles—including Senator Edward Kennedy's "True Compass," Paul Young's "The Shack" and James Patterson's "I, Alex Cross"—also contributed to last year's growth.
In Lagardere CEO Arnaud Lagardere's presentation to analysts and investors this week, he prefaced his discussion of the publishing group's results with a thank you, saying to the audience, "If you want to stand up and break out the champagne, now is the time!" He also said that the acquisition of Time Warner Book Group was "one of the best acquisitions the company has ever made."
Overall, 2009 was a record-breaking year for Hachette Book Group, in terms of revenue, EBIT and best-sellers. A total of 130 Hachette titles hit the New York Times best-seller list (up from 107 in 2008), with 24 reaching No 1.