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MarketScreener Homepage  >  Equities  >  Xetra  >  Axel Springer    SPR   DE0005501357

AXEL SPRINGER

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Axel Springer AG : StepStone acquires Saongroup, operator of leading job portals in Ireland, South Africa and emerging markets

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11/06/2013 | 04:49am EDT

06.11.13

StepStone continues its growth strategy by acquiring Saongroup, which operates job portals in 16 countries. The Irish-based company has leading positions in Ireland, Northern Ireland and South Africa, as well as strong positions in several other markets. Saongroup was established in 1999 and has more than 300 employees worldwide.

Ciaran McCooey

Ciaran McCooey, CEO, Saongroup, said: "We are delighted to be joining StepStone with whom we have had a close relationship for many years through our membership of The Network. We consider StepStone to be the ideal partner for the future to reach the next level in terms of scale and operational excellence."

The acquisition of Saongroup is in line with StepStone Group's strategy to operate leading job portals. "The acquisition of Saongroup adds to our portfolio of leading job boards and is a significant step on our growth path. Our market-leading technology and know-how combined with the expertise of Saongroup will provide additional growth potential for the entire group, and will help us create even more value for customers and candidates alike," comments Ralf Baumann, CEO of StepStone Group.

Dr. Jens Müffelmann

Dr Jens Müffelmann, Head of Electronic Media at Axel Springer, said: "Last year Axel Springer incorporated the partnership with General Atlantic. The takeover of Saongroup is the fifth anchor acquisition of profitable market leaders and shows our determination in developing the online classified business."

The transaction does not include the China and Myanmar operations of Saongroup. It is expected to be closed in November, subject to the approval of the competent antitrust authorities.

Press contact: Hendrik LangeTel: +49 30 2591 77651 hendrik.lange@axelspringer.de
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Financials (EUR)
Sales 2019 3 180 M
EBIT 2019 490 M
Net income 2019 231 M
Debt 2019 1 643 M
Yield 2019 3,37%
P/E ratio 2019 30,2x
P/E ratio 2020 33,0x
EV / Sales2019 2,67x
EV / Sales2020 2,41x
Capitalization 6 857 M
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Mean consensus HOLD
Number of Analysts 10
Average target price 59,10  €
Last Close Price 63,60  €
Spread / Highest target -0,94%
Spread / Average Target -7,08%
Spread / Lowest Target -21,4%
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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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