Axel Springer: More revenue thanks to digital business
Axel Springer is benefiting from the expansion of its digital business and its international activities. In the first nine months, sales increased by almost twelve percent to around 2.32 billion euros.
As the German media group announced on Monday, earnings before interest, taxes, depreciation and amortization (EBITDA) rose by almost 16 percent to around 446 million euros. The Group confirmed its forecast for the current full year. It anticipates a high single-digit increase in turnover and an EBITDA increase in the low double-digit percentage range. "Our digital media continue to grow dynamically and make an increasingly large contribution to earnings," said Springer CEO Mathias Döpfner in the press release. In the third quarter alone, the division doubled its earnings. Axel Springer wants to become less dependent on developments in the German print market. Springer has been successively expanding its digital business and foreign activities for years. Most recently, the French iProperty increased. In Switzerland, Axel Springer publishes the Handelszeitung, the Beobachter and the program guide Tele.
