Axel Springer predicts earnings decline
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.