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Axel Springer FY19 Net Income Declines - Quick Facts

Axel Springer AG (AXELF.PK) reported that its fiscal 2019 net income decreased to 134.6 million euros from 208.4 million euros, prior year. Earnings per share was 0.92 euros compared to 1.68 euros. EBITDA adjusted for special effects was 630.6 million euros compared to 737.9 million euros. Organically, EBITDA decreased by 11.0 percent. The decrease was mainly due to provisions for the extensive ongoing restructuring measures in the News Media National subsegment. Adjusted net income was 263.7 million euros compared to 335.7 million euros, previous year. Adjusted earnings per share was 2.02 euros, compared to 2.73 euros.

Fiscal 2019 consolidated revenues was 3.11 billion euros, compared to 3.18 billion euros, prior year. Organic revenues remained stable at a plus of 0.1 percent.

For fiscal 2020, Axel Springer expects revenues to develop at the level of the previous year. For adjusted EBITDA, the company projects a decrease in the low to mid double-digit percentage range. Axel Springer expects adjusted EBIT to decline significantly below the previous year due to increased depreciation and amortization.

For fiscal 2019, the Executive Board and the Supervisory Board will propose to the annual shareholders' meeting the distribution of a dividend of 1.16 euros per share.

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