Axel Springer generates highest profit in the company's history
The German Axel Springer Verlag generated the highest profit in its history in 2008. The profit amounted to 571.1 million euros. This follows a loss of 288.4 million in the previous year.
The German Axel Springer Verlag generated the highest profit in its history in 2008. The profit amounted to 571.1 million euros. This follows a loss of 288.4 million in the previous year.
Group sales rose by 5.8 percent from EUR 2577.9 million in 2007 to EUR 2728.5 million last year.
In a press release on Wednesday, the Group attributed the record result to a "pleasing sales trend and strict cost discipline". At 486.2 million euros, earnings before interest, taxes, depreciation and amortization (EBITDA) exceeded the previous year's figure by 3.4 percent. Springer thus even far exceeded its own forecast.
Adjusted for the Pro Sieben Sat 1 Group dividend and income from the Kirch insolvency, EBITDA amounted to 480 million euros. Ebita amounted to 422.1 million euros (compared to 421.7 million euros in the previous year). In the previous year, the media group posted a net loss despite good figures due to the high write-downs on its stake in the postal service provider Pin Group.
On the basis of these figures, the Group intends to distribute a record dividend of EUR 4.40 to its shareholders.
Group sales rose by 5.8 percent from EUR 2577.9 million in 2007 to EUR 2728.5 million last year.
In a press release on Wednesday, the Group attributed the record result to a "pleasing sales trend and strict cost discipline". At 486.2 million euros, earnings before interest, taxes, depreciation and amortization (EBITDA) exceeded the previous year's figure by 3.4 percent. Springer thus even far exceeded its own forecast.
Adjusted for the Pro Sieben Sat 1 Group dividend and income from the Kirch insolvency, EBITDA amounted to 480 million euros. Ebita amounted to 422.1 million euros (compared to 421.7 million euros in the previous year). In the previous year, the media group posted a net loss despite good figures due to the high write-downs on its stake in the postal service provider Pin Group.
On the basis of these figures, the Group intends to distribute a record dividend of EUR 4.40 to its shareholders.
