Last year, Planetary Group reported total billing of 1.7 billion euros, marking a 13% increase from the year before and an operating profit of 305 million, with profits following the sales growth. The company cut its debt by half, reducing it to 250 million. Company sources indicate that results should improve this year, with expectations to approach or reach nearly 1.8 billion euros in 2019.
Audiovisual work represented 49% of total sales, while A3 Media managed cinematographic distribution; the publishing arm contributed 26%, education 21% to 22%, and other activities 3% to 4%.
All set for the 2022 Planeta Prize in a year favorable to reading
With a stronger foundation and a debt level that once again supported positive operating results, the group expanded into new areas such as audiobooks, handled by A3 Media. La Casa del Libro extended its network to five organizations last year, with five more planned for the coming year. This brand, entering its first full year in 2023, now operates 53 stores in total.
Leaving Italy
According to the group, withdrawing from the Italian market, which generated roughly 5 million in annual turnover, did not significantly impact the accounts. Planeta’s main strategy is growth through its own initiatives. The group notes that opportunities for acquisitions in broadcasting or television remain possible if a suitable chance arises.
The leadership, led by Josep Crehueras, believes the book industry is in a healthy phase despite rising costs. By leveraging the economies of scale typical of a large group, costs were absorbed without increasing prices. Still, the group warns that smaller publishers may struggle to replicate this approach and calls for greater public support. The pandemic crisis, followed by the epidemic period, helped revive the reading habit among the public, and better results are anticipated for 2022 compared with the previous year. (Source: Planeta Group, 2021 report)