Axel Springer with record profit in 2008
The German media group Axel Springer achieved record profits in 2008. The surplus of the publisher of newspapers such as Bild and Die Welt rose to 571.1 million euros. In the previous year, a loss of 288.4 million euros was reported
The German media group Axel Springer achieved record profits in 2008. The surplus of the publisher of newspapers such as Bild and Die Welt rose to 571.1 million euros, as the group announced on Wednesday. In the previous year, a loss of 288.4 million euros was reported. Revenues increased by 5.8 percent to 2.73 billion euros. However, Axel Springer did not issue a forecast for 2009. The Group also reduced its debt: Net debt fell from 743.1 to 369.5 million euros. At 4.40 euros per share, shareholders are to receive 0.40 euros more and thus a record dividend.
In the current year, the Group believes it will feel the effects of the economic crisis to a greater extent. "Of course we will not be able to achieve record results like last year in this environment," explained publishing director Mathias Döpfner. The Group is preparing for an extremely difficult advertising business, for example. "A more precise forecast is out of the question, as it would be dubious in this extremely volatile environment," added Döpfner. However, the CEO was optimistic that Springer would gain market share and emerge stronger from the crisis. The Group will continue to focus on its core brands and invest in online activities.
In the current year, the Group believes it will feel the effects of the economic crisis to a greater extent. "Of course we will not be able to achieve record results like last year in this environment," explained publishing director Mathias Döpfner. The Group is preparing for an extremely difficult advertising business, for example. "A more precise forecast is out of the question, as it would be dubious in this extremely volatile environment," added Döpfner. However, the CEO was optimistic that Springer would gain market share and emerge stronger from the crisis. The Group will continue to focus on its core brands and invest in online activities.
