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4-Traders Homepage  >  Equities  >  Xetra  >  Axel Springer SE    SPR   DE0005501357

AXEL SPRINGER SE (SPR)
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Axel Springer : managers get 12 million euro bonus from General Atlantic

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03/08/2018 | 10:56am CEST
Mathias Dopfner, CEO of Axel Springer SE, speaks at the 2017 Business Insider Ignition: Future of Media conference in New York

FRANKFURT (Reuters) - Managers at Axel Springer SE (>> Axel Springer SE) have shared a 12 million euro (10.71 million pounds)bonus from investor General Atlantic following the profitable sale of an investment in the German publisher's online classifieds business.

FRANKFURT (Reuters) - Managers at Axel Springer SE have shared a 12 million euro (10.71 million pounds)bonus from investor General Atlantic following the profitable sale of an investment in the German publisher's online classifieds business.

The one-time payment to the Springer executive board came on top of annual compensation totalling 19.7 million euros, bringing total pay to 31.7 million euros, Springer said in its annual report.

Springer did not give a breakdown of compensation paid to its executive board, which is headed by CEO Mathias Doepfner and was recently enlarged to number five members. Doepfner also owns a 2.8 percent stake in the company.

Springer earlier on Thursday announced solid 2017 results and forecast double-digit growth in core earnings this year, yet its shares fell by 10 percent as investors took profits following a period of strong outperformance.

The bonus disclosure comes amid increasing scrutiny of executive pay in Europe's largest economy that is rising fast but still lags levels in the United States.

General Atlantic entered into a partnership with Springer in 2012, taking a 30 percent stake in the publisher's online classifieds business as part of a strategy to diversify it internationally.

It later sold down its shares through a series of partial sales, completing the process last year. It made "a voluntary one-time special payment", enabling the payment of the "recognition bonus" to the executive board, the annual report said.

Bill McDermott, the CEO of business software firm SAP, is probably the best-paid executive in Germany, making 21.8 million euros ($27 million) last year according to a company disclosure.

(Reporting by Douglas Busvine; Editing by Keith Weir)

Stocks treated in this article : SAP, Axel Springer SE
Stocks mentioned in the article
ChangeLast1st jan.
SAP -0.74% 101.74 Delayed Quote.11.05%
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Financials (€)
Sales 2018 3 197 M
EBIT 2018 506 M
Net income 2018 267 M
Debt 2018 1 075 M
Yield 2018 3,46%
P/E ratio 2018 24,92
P/E ratio 2019 21,14
EV / Sales 2018 2,38x
EV / Sales 2019 2,18x
Capitalization 6 527 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 67,0 €
Spread / Average Target 12%
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Managers
NameTitle
Mathias Döpfner Chief Executive Officer
Giuseppe Vita Chairman-Supervisory Board
Julian Deutz Chief Financial Officer
Stephanie Caspar President-Technology & Data
Friede Springer Vice Chairman-Supervisory Board
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