Press Release: Hachette Sales Down in 2014
At Hachette Livre: Hachette Livre (Lagardère Publishing) delivered profit of €197 million, down 11.7%. The division delivered 52% of Lagardère's overall EBIT in 2014. Net sales for the full year were €2.004 billion, down 3.0%. 2014 was, as expected, down from 2013 when the publishing division had an unusually high number of major bestsellers. Hachette Livre's "operating margin remains high at 9.8%," according to the press release, "but nonetheless receded by one point." The shift was mainly due to softer sales in General Literature in France and in English speaking countries, although a focus on cost efficiency helped limit its effects. Digital sales growth has slowed, with ebooks accounting for 10.3% of total division sales (vs 10.4% in 2013). In the UK ebooks accounted for 31% of adult trade sales (up from 27% in 2012).
- Companies:
- Hachette Book Group
- People:
- Michael Pietsch