BERLIN (dpa-AFX) - German media holding company Axel Springer (AXELF.PK) reported that its adjusted net income for fiscal year 2018 rose by 2.5 percent to 335.7 million euros from 327.5 million euros last year. Because of the lower share of earnings by other partners, the adjusted earnings per share increased by 5.1 percent to 2.73 euros from the prior year. Organically, adjusted earnings per share were 8.3 percent higher than in the previous year.
The adjusted EBITDA increased substantially by 14.3 percent to 737.9 million euros from the prior year. Organically, adjusted EBITDA was above the previous year figure by 8.5 percent.
The adjusted EBIT increased, due to higher budgeted depreciation and amortization caused in particular by the new leasing accounting standards, by 4.7 percent to 527.9 million euros from 504.0 million euros last year. Here as well, consolidation and currency effects had an impact. The adjusted EBIT increased organically by 6.4 percent. The margin at 16.6 percent was on the level of the previous year (16.5 percent).
Consolidated revenues increased by 4.1 percent to 3.18 billion euros from the previous year. Operational growth was supported in this by positive consolidation effects due to the inclusion of Logic-Immo, Universum and affilinet. On the other hand, currency effects overall had a dampening effect. Adjusted for consolidation and currency effects, revenues exceeded the previous year figure by 3.8 percent.
For the 2019 financial year, Axel Springer SE expects an increase in revenues in the low single-digit percentage range. Organically, the Group expects growth in the low to mid single-digit percentage range. For the adjusted EBITDA, earnings are expected to be at the level of the prior year. Organic growth of the adjusted EBITDA should be in the low to mid single-digit percentage range.
For adjusted EBIT, due to higher depreciation and amortization, a decline in the low single-digit percentage range is expected, and organically growth in the low single-digit percentage range is expected. Development of the adjusted earnings per share is expected to be somewhere between a result on the the prior-year level and a decline in the low single-digit percentage range. For organic development, a rise in the single-digit percentage range is expected.
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