While revenues proved to be satisfactory, rising by 2.5% organically, supported by the digital media activities (+11.2% organically; pro-forma revenues now equivalent to c.60% of group revenues from 55.9% a year earlier), Axel Springer's Q1 15 EBITDA margin dropped by 180bp to 15.3%, namely impacted by the 330bp decline (to 40.1% versus 43.4%) in Classified Ad Models, its most profitable business. This highlights a business model based on external growth, with lower margin from acquired compa
23 Jun 2015
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Springfield Properties PLC (SPR:LON) | 97.5 0 0.0% | Mkt Cap: 115.7m
- Published:
23 Jun 2015 -
Author:
Véronique Cabioc'h -
Pages:
3
While revenues proved to be satisfactory, rising by 2.5% organically, supported by the digital media activities (+11.2% organically; pro-forma revenues now equivalent to c.60% of group revenues from 55.9% a year earlier), Axel Springer's Q1 15 EBITDA margin dropped by 180bp to 15.3%, namely impacted by the 330bp decline (to 40.1% versus 43.4%) in Classified Ad Models, its most profitable business. This highlights a business model based on external growth, with lower margin from acquired compa