Axel Springer AG (AXELF.PK) reported that its first-quarter net income attributable to shareholders increased to 62.8 million euros from the prior year's 60.7 million euros. Earnings per share improved by 3.3 percent to 0.64 euros from 0.62 euros in the prior year quarter.
The company said its performance in the first quarter of 2013 was boosted by the significant revenue and earnings growth of its Digital Media.
Adjusted consolidated net income attributable to shareholders for the quarter slip to 53.8 million euros from 67.4 million euros in the same quarter last year. Adjusted earnings per share were 0.54 euros down from 0.68 euros last year.
consolidated EBITDA fell by 3.0 percent to 132.4 million euros from the prior year's 136.5 million euros, due to heightened investments in the accelerated digitization of the Group and the decrease in print media revenues, due to market conditions.
Quarterly revenues increased to 803.6 million euros from last year's 789.0 million euros.
The company reaffirmed its expectations for the full year.
As a result of heightened investments in the accelerated digitization of the Group's business and significant expenditures for structural adjustments in the print business, Axel Springer anticipates a single-digit percentage decrease in consolidated EBITDA for the full year 2013.
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