Profits at Lagardere Publishing fell about 12% in 2014, dropping to 197 million euros from 223 million euros in 2013, parent company Lagardere reported Wednesday afternoon. Earlier this year, Lagadere reported that publishing sales dropped 3% to just over 2.0 billion euros as sales fell in its American subsidiary, Hachette Book Group, and in France. Publishing operating margins fell to 9.8% from 10.8% in 2013.
Lagardere reiterated that the sales decline in the U.S. was due to a weaker publishing lineup than 2013 and the dispute over terms with Amazon. Total digital sales at HBG (including e-books and downloadable audio), represented 30% of company net sales in the year, down from 33% in 2013. Previously, Lagadere reported that HBG’s e-book sales represented 26% of trade revenue, down from 30% in 2013.
The Lagardere presentation also noted that the U.S. and Canada represented 24% of Lagardere Publishing’s total revenue, or approximately 481 million euros which translates to about $550 million at based on exchange rates at the end of 2014.
