Business News

Axel Springer AG generates first-half EBITDA of EUR 261 million, 61 percent higher than the first half of last year, and raises its full-year forecast again

Tuesday 20. July 2010 - Based on preliminary figures, Axel Springer AG generated earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 261.2 million in the first half of financial year 2010. Thus, the EBITDA was 61.0 percent higher than the corresponding year-ago figure of EUR 162.3 million. At EUR 1,364.3 million, the consolidated revenues for the same period were 8.7 percent higher than the year-ago figure (H1 2009: EUR 1,254.8 million). The continued dynamic growth of the Digital Media segment was a major contributing factor to this increase.

In view of the higher-than-expected operating results in the first half of 2010 and the fact that the revenues and results of the Eastern Europe joint venture with Ringier will be fully consolidated as of July 1, 2010, Axel Springer AG anticipates that the EBITDA for the full year 2010 will be significantly higher than previously expected. Assuming that the positive market trends continue in the second half, the Management Board considers it possible to generate an EBITDA on the level of the record figure reported for financial year 2008 (EUR 486.2 million). In its previous forecast, Axel Springer had expressed its expectation that the consolidated EBITDA would be significantly more than 10 percent higher than the prior-year figure (EUR 333.7 million). The Management Board also expects significantly higher revenues for the full year 2010, especially in consideration of the additional revenues to be contributed by the Eastern Europe joint venture with Ringier in the second half.

Axel Springer AG will publish its complete interim report as of June 30, 2010 on August 5, 2010.