(Corrects fourth paragraph to show analysts had expected 653
million, not billion, euros EBITDA)
* Sees 2013 EBITDA down single digit percentage
* posts FY EBITDA of 628 mln euros vs 619 mln expected
* Sees 2013 revenue up low-single digit percentage
* Shares indicated down 3.5 pct
By Harro Ten Wolde
FRANKFURT, March 6 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.
That's despite a forecast that sales will rise by as much as
Analysts had on average expected EBITDA up 4 percent at 653
million euros ($850.6 million) and a 4 percent rise in revenue
to 3.4 billion.
Germany is home to Europe's largest print media market and
in the past has proven relatively resilient to the
technological, cultural and demographic forces that have
squeezed newspapers in many other developed countries.
But a slowing German economy has hit advertising revenue in
the print media.
Axel Springer also said 2012 EBITDA rose 5.8 percent to 628
million euros, driven by its digital media, beating the average
forecast of 619 million in a Reuters poll.
Shares were indicated down 3.5 percent at 0739 GMT,
according to brokerage Lang & Schwarz.
($1 = 0.7677 euros)
(Reporting by Harro ten Wolde; Editing by David Holmes)