Axel Springer: Expansion strategy pays off - More women in management positions
Die Expansionsstrategie von Axel Springer zahlt sich zunehmend aus. Der deutsche Medienkonzern verdiente im ersten Halbjahr erstmals in seiner Geschichte jeden vierten Euro im Ausland.
This is mainly due to a recently founded joint venture with Ringier-Verlag, with which both companies want to conquer the tabloid newspaper and online market in Eastern Europe. According to Kress.de, Springer boss Mathias Döpfner has now announced that his company and Ringier intend to invest a three-digit million sum in the expansion of the joint Eastern European business. The Cartel Office has put a stop to major acquisitions in Germany by prohibiting the takeover of Pro Sieben Sat.1. This is another reason why Springer has had to focus increasingly on growth abroad for some time now.
Springer increased profitability in all other divisions in the first half of the year. The Berlin-based publisher benefited from the recovery of the advertising markets. This was announced by the Group on Thursday. Two weeks ago, Springer had therefore already presented preliminary figures and raised its profit forecast for 2010.
Consolidated net income fell to 170.3 million euros in the first half of the year after 267.3 million euros in the previous year. However, at that time Springer made a profit of over 300 million euros from the sale of regional newspapers to the Madsack Group. According to Springer, consolidated net income adjusted for significant non-operating effects almost doubled to 146.6 million euros. Revenues in the Print International segment grew by 1.8 percent to 154.3 million euros. Circulation revenues amounted to 93.1 million euros, while advertising revenues of 52.8 million euros were only slightly below the previous year's figure of 53.9 million euros.
The national companies in Switzerland, Poland and Russia have developed particularly well, writes Axel Springer, without giving specific figures. In Switzerland, among other things, various TV
program guides as well as Bilanz, Handelszeitung and Beobachter.
Proportion of women in management positions
Axel Springer wants to significantly increase the proportion of women in management positions. The aim is to achieve a more balanced ratio of women and men in management positions, according to a statement from the Group. The media company has set itself the goal of doubling the proportion of women from the current 16 percent at all management levels over the next five to eight years as a company average. In future, the annual progress will be announced in the respective annual report.
Springer increased profitability in all other divisions in the first half of the year. The Berlin-based publisher benefited from the recovery of the advertising markets. This was announced by the Group on Thursday. Two weeks ago, Springer had therefore already presented preliminary figures and raised its profit forecast for 2010.
Consolidated net income fell to 170.3 million euros in the first half of the year after 267.3 million euros in the previous year. However, at that time Springer made a profit of over 300 million euros from the sale of regional newspapers to the Madsack Group. According to Springer, consolidated net income adjusted for significant non-operating effects almost doubled to 146.6 million euros. Revenues in the Print International segment grew by 1.8 percent to 154.3 million euros. Circulation revenues amounted to 93.1 million euros, while advertising revenues of 52.8 million euros were only slightly below the previous year's figure of 53.9 million euros.
The national companies in Switzerland, Poland and Russia have developed particularly well, writes Axel Springer, without giving specific figures. In Switzerland, among other things, various TV
program guides as well as Bilanz, Handelszeitung and Beobachter.
Proportion of women in management positions
Axel Springer wants to significantly increase the proportion of women in management positions. The aim is to achieve a more balanced ratio of women and men in management positions, according to a statement from the Group. The media company has set itself the goal of doubling the proportion of women from the current 16 percent at all management levels over the next five to eight years as a company average. In future, the annual progress will be announced in the respective annual report.
