The CEO of German media company Axel Springer says the company will use seloger.com’s know-how to expand its real estate classifieds business both organically and through acquisitions.
As bloomberg.com reports, Axel Springer CEO Mathias Döpfner is looking at acquisitions in the growth market of eastern Europe as well as in Asia, India and South America. Axel Springer took a majority stake in leading French property portal seloger.com early this year.
Axel Springer has just reported a 26.3 percent increase in Q1 revenue from its digital media segment to a total of €202.2 million.
“Following the record year of 2010 Axel Springer got off to a good start in the new financial year,” Döpfner says. “Our digital and international activities, which had a dynamic start to the year, will become even more important during the next months.”
The company saw a 6.5 percent increase in EBITDA and an EBITDA margin of 17.2 percent during Q1. Total revenues were €736.7 million, which is an increase of five percent when adjusted for consolidation effects.