Axel Springer Sees Earnings Hit by Investment, Restructuring

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By: Harro Ten Wolde | Reuters

FRANKFURT, March 6 (Reuters) – German publisher Axel Springer on Wednesday forecast a drop in profitability in 2013, expecting investments in its digital business and restructuring efforts in its declining printing business to weigh on results.

The company, which publishes Germany’s largest selling daily “Bild”, sees net income down significantly and earnings before interest, tax, depreciation and amortisation (EBITDA) dropping by as much as 9 percent.

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