Axel Springer in the black thanks to Internet and international business
The Axel Springer media group continues to benefit from strong growth in its online and international businesses. According to figures released Wednesday, the company posted significant gains in both areas in 2011.
Springer's revenue from newspapers and magazines in Germany fell, mainly due to declining advertising revenues - and the combined operating profit in the German print business also fell. However, the division is still highly profitable, with magazines even achieving a record profit.
Group-wide turnover rose by ten percent to just under 3.2 billion euros, as Springer announced. Adjusted for non-recurring effects, earnings before interest, taxes, depreciation and amortization rose by around 16 percent to 593.4 million euros. At the bottom line, Axel Springer earned 289.4 million euros, almost six percent more than a year ago. In Switzerland, the company publishes the Handelszeitung and the TV program guide Tele.
Springer CEO Mathias Döpfner expects revenues from the sale and marketing of magazines and newspapers to continue to decline slightly. However, this should again be more than offset by strong growth in the online business. Döpfner is therefore forecasting a single-digit percentage increase in turnover for the current year. In addition, operating profit is expected to increase further - although the increase is likely to be only slight. (SDA/DPA)
