Business News

Axel Springer AG increases first quarter EBITDA by 48 percent to EUR 119 Million and raises expectations for the full year

Friday 23. April 2010 - On the basis of preliminary figures Axel Springer AG achieved a first quarter fiscal year 2010 result before interest, taxes, depreciation and amortization (EBITDA) of EUR 119.2 million.

The company thereby exceeded the EBITDA of the previous fiscal year’s first quarter of EUR 80.3 million by 48.4 percent. Company revenues for the reported period increased by 7.0 percent to EUR 663.7 million (previous fiscal year: EUR 620.0 million). The continuously dynamic growth of the digital media segment contributed significantly to this increase.

A pick-up of the advertising market since March, continuing cost discipline, as well positive effects of restructuring measures lead to significant improvements in profitability in all operative segments. The national newspaper and magazine segments achieved first quarter EBITDA results in the range of their historical record results. Following a difficult 2009 first quarter, international print media also achieved a significant improvement in earnings. The EBITDA of the digital media segment increased exceptionally.

Against the background of higher than expected first quarter performance and a more positive expectation of the advertising market, the management board of Axel Springer AG is raising the outlook for the fiscal year 2010. The company expects for the fiscal year 2010 a significant increase in company revenues. The management board also expects that the previous outlook for an increase in the company’s EBITDA by around ten percent compared to the previous year’s value will be significantly exceeded.

The full quarterly financial report 2010 will be published by Axel Springer AG on May 11, 2010.