Axel Springer increases revenues thanks to online and acquisitions
The German media conglomerate Axel Springer posted growth in the first half of 2008, driven primarily by acquisitions in its international operations and digital media segment. CEO Mathias Döpfner also expressed optimism for the second half of the year: Axel Springer is bucking the trend despite gloomy economic prospects.
The German media group Axel Springer increased its growth in the first half of 2008 primarily through acquisitions in international business and digital media. In the first six months of the year, the group increased its turnover by 11.1 percent to 1.343 billion euros, Europe's largest newspaper company announced in Berlin on Wednesday. The surplus amounted to 526.2 million euros compared to 88.8 million euros a year ago. The strong increase was partly due to the proceeds from the sale of the stake in the TV group ProSiebenSat.1. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 7.2 percent to EUR 213.9 million compared to the same period last year.
Springer Group CEO Mathias Döpfner was optimistic about the second half of the year - despite the gloomy economic outlook and a difficult market environment for the media. "Axel Springer is defying the trend," said Döpfner. The media company also confirmed its growth forecast for 2008 as a whole.
The international market and online business are becoming increasingly important for the publishing house, Döpfner continued. Already 22.3 percent of sales are generated abroad. The Group will continue to drive forward the integration of online titles and print offerings.
Springer Group CEO Mathias Döpfner was optimistic about the second half of the year - despite the gloomy economic outlook and a difficult market environment for the media. "Axel Springer is defying the trend," said Döpfner. The media company also confirmed its growth forecast for 2008 as a whole.
The international market and online business are becoming increasingly important for the publishing house, Döpfner continued. Already 22.3 percent of sales are generated abroad. The Group will continue to drive forward the integration of online titles and print offerings.
