Axel Springer prints record earnings in 2011
German newspaper publisher Axel Springer said Wednesday its digital media activities and its international newspapers and magazines pushed it to record earnings in 2011.
Springer, which publishes Germany's mass-circulation Bild daily, said in a statement that net profit rose by 5.6 percent to 289.4 million euros ($380 million) last year.
Underlying profits, as measured by earnings before interest, tax, depreciation and amortisation (EBITDA), were up 16.2 percent at 593.4 million euros on a 10.1-percent increase in sales to 3.185 billion euros.
"We again achieved record results in 2011," said chief executive Mathias Doepfner.
"This development was due to the significant growth of earnings and revenues in the digital media and print international segments as well as the continued high profitability of the national print media."
In addition to Bild, Springer also publishes the daily Die Welt.
Looking ahead to the current year, Springer said that assuming there was no significant economic downturn, it expected to generate a "single-digit percentage increase in total revenues in 2012."
While circulation revenues were expected to decline slightly, they would be "more than offset by higher total advertising revenues and total other revenues," the company predicted.
And slightly lower revenues in the national and international print business would be "more than made up by higher revenues in the digital media business," Springer said.
Overall, underlying earnings would be slightly higher than in 2011, with lower earnings in the print business, but "substantially higher earnings in the digital business," the company said.
© 2012 AFP