May 8, 2018 / 5:47 AM / a year ago

Axel Springer Q1 in line, confirms 2018 guidance

FRANKFURT, May 8 (Reuters) - German publisher Axel Springer posted a double-digit gain in core profits in the first quarter as its digital portfolio continued to perform, in line with its guidance for the full year.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 16.3 percent to 171.2 million euros ($204 million), it said on Tuesday, in line with average expectations in a Reuters poll of analysts.

Revenues rose 6.9 percent to 773.5 million euros, compared with an expected 758 million euros.

Springer, which generates four fifths of its core profits from digital, reiterated its 2018 guidance for low double-digit growth in adjusted EBITDA and revenue growth in the low- to mid-single-digit percentage range.

The company also reported separate organic figures, adjusted for consolidation and currency effects, with first quarter revenues gaining 4.7 percent and EBITDA growing by 6.7 percent respectively.

It guided for organic adjusted EBITDA and earnings growth this year in the mid- to high-single-digit range. ($1 = 0.8393 euros) (Reporting by Douglas Busvine Editing by Maria Sheahan)

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