No abstract

No abstract

No abstract

Brill profit levels and organic growth in line with expectations, integration V&R according to plan and continuation of eBusiness growth Update on year-to-date performance During the third quarter Brill's eBusiness continued its strong growth, driven by eBooks and digital primary sources. This growth compensated for the ongoing decline in print books. YTD Journal sales declined mainly due to delayed invoicing, which is expected to be recovered in Q4, and continuing IT problems at our UK based distributor. Overall Brill's revenues including the acquisition of Vandenhoeck & Ruprecht and Böhlau Verlag (V&R) are clearly ahead of last year.Cost of goods sold improved slightly as a result of the migration from print to eBooks. Operating costs were in line with expectations. Year to date EBITDA, operating profit and net profit have developed as planned.The integration of V&R runs according to plan. Both the Brill as well as the V&R teams and staff are now part of one global matrix organization. Various integration projects in IT, production, distribution, publishing and sales are underway. Management closely leads and monitors the integration and is pleased with the progress and the results of the acquired V&R business so far.In August, Brill acquired the journal Folia Primatologica from Karger Publishing, an important addition to our Biology portfolio. At the end of Q3 Brill's Book Archive was launched, a digital archive expanding our eBook list with more than 6,000 back list titles in 2021. The first sales are expected in Q4. FY OutlookThe COVID-19 pandemic continues to make market circumstances difficult and unpredictable. In Asia important countries are still in lockdown and (intercontinental) travel is still difficult or impossible, limiting our staff to visit authors, conferences and customers in person. The shortages in the global supply chains are hampering Brill as well, to the extent that this may have a negative impact on the results of the important 4 th quarter and could affect our top-and bottom line negatively.

No abstract