Axel Springer pre­dicts earn­ings de­cline

The Pak Banker - - 6BUSINESS -

Axel Springer AG, Europe’s largest news­pa­per pub­lisher, forecast lower profit this year be­cause of spend­ing to ac­cel­er­ate its shift to dig­i­tal pub­li­ca­tions amid a de­clin­ing print busi­ness. Earn­ings be­fore in­ter­est, taxes, de­pre­ci­a­tion and amor­ti­za­tion will prob­a­bly fall by a “sin­gle-digit per­cent­age” this year, Berlin-based Axel Springer said to­day. An­a­lysts project an in­crease of 4.1 per­cent to 654 mil­lion eu­ros ($854 mil­lion), data com­piled by Bloomberg show. Axel Springer, the pub­lisher of Ger­many’s largest tabloid Bild, last year added on­line clas­si­fieds pages in coun­tries in­clud­ing Poland and Bel­gium.

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