Axel Springer: Good development in the advertising market
Europe's largest newspaper group increased its earnings before interest, taxes, and depreciation by 48 percent to 119 million euros in the first quarter. EBITA for the same period last year was 80 million euros.
In the first three months, sales increased by seven percent to just under 664 million euros. In comparison: revenues in the same period of the previous year amounted to 620 million euros. The jump in profits was due to an upturn in the advertising market, particularly in March, as well as a tough cost-cutting program, as the Handelsblatt cites company information. However, the Axel Springer media group will not publish its complete balance sheet until May 11.
