Axel Springer reports successful result

According to preliminary figures, the German Axel Springer Verlag exceeded the previous year's record result in the 2006 financial year. The Group increased its EBITA from 338 million euros in the 2005 financial year to 374 million euros. Sales in the core business, the sum of circulation and advertising revenues, rose from EUR 2.165 billion to EUR 2.191 billion. Group sales amounted to EUR 2.376 billion in the past financial year (previous year: EUR 2.392 billion). Compared to the previous year, the loss of revenues from the spin-off of the gravure printing activities to the Prinovis joint venture had an impact here. Axel Springer also significantly improved its net income from EUR 231 million to EUR 291 million. A change in the law and the resulting capitalization of a corporation tax credit also contributed to this. In view of the significant increase in earnings, the Management Board will propose more than doubling the dividend per share from EUR 1.70 in the previous year to EUR 3.50 for the 2006 financial year.
Axel Springer will present the complete annual financial statements and the forecast for the current financial year at the annual press conference in Berlin at the beginning of March.