HM Posts Strong Earnings Growth
by Staff -- Publishers Weekly, 3/18/2002
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 7% on a pro forma basis in Vivendi's publishing group, to 827 million euros ($727 million) in 2001. Pro forma revenues increased 5%, to 4.72 billion euros ($4.15 billion). The figures include results of all acquisitions made by Vivendi, including Houghton Mifflin, as if the purchase occurred on January 1, 2000.
At HM, Vivendi said EBITDA increased 15%, to 303 million euros ($266 million). The best performing segment was HM's high school publishing division, which had a 27% increase in EBITDA. EBITDA rose 25% in the trade department and 8% in HM's college division.
