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Gütersloh (dpa) - Despite the loss of advertising revenues in the media market in the corona pandemic, Bertelsmann significantly increased its profits in 2020.

The result was around 1.46 billion euros after around 1.1 billion euros in the previous year, as the media, service and education company announced on Tuesday in Gütersloh.

The book publishing group Penguin Random House and the service subsidiary Arvato contributed to the positive development.

Bertelsmann also had to accept declines in advertising revenues in the RTL Group's TV market in the Corona year.

The Group's total sales fell by 4.1 percent to 17.3 billion euros (2019: 18 billion euros).

For 2021, the group, with almost 133,000 employees worldwide, "continues to see uncertainties due to the global economic effects of the corona pandemic," said CFO Rolf Hellermann.

The broad positioning of the group portfolio will contribute to stable business development.

Bertelsmann again expects earnings of more than one billion euros.

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Press release

Business figures 2020