Springer Nature AG & Co. KGaA

SPG

Equity

ISIN DE000SPG1003 / Valor 41578404

Xetra (2026-11-06)

EUR 21.50%

Springer Nature AG & Co. KGaA
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About company

Springer Nature AG & Co. KGaA is a prominent global academic publishing company that specializes in providing high-quality content and services across various scientific, technical, and medical fields. Formed through the merger of Springer Science+Business Media and Macmillan Science and Education, the company is known for its extensive portfolio of journals, books, and digital resources that support researchers, educators, and professionals worldwide. Springer Nature plays a significant role in advancing discovery by offering innovative solutions and platforms that facilitate the dissemination of knowledge. The company is structured to cater to diverse research needs, with dedicated divisions focusing on research publishing, educational resources, and professional development. Through its commitment to fostering open access and supporting the global research community, Springer Nature continues to be a key player in the academic publishing industry.

Summarized from source with an LLMView SourceSector: Technology

Headline financials

Revenue €939.8m (H1 2025: €925.9m; underlying +6.2%). Adjusted operating profit €246.2m (H1 2025: €240.6m; underlying +7.7%). Adjusted EBITDA €340.0m (H1 2025: €335.5m). Reported net result €101.3m (H1 2025: €129.2m).

Segments — Research leading growth

Research drove performance: Research revenue €748.0m (underlying +7.2%) and adjusted operating profit €228.7m (margin 30.6%). Growth was led by Open Access journal activity, higher submission/publication volumes, new journal launches and 19 transformative agreements signed in H1 2026. Health and Education grew more modestly (underlying +1.3% and +3.5% respectively).

Cash, leverage and capital returns

Operating cash generation strong: net cash from operations €383.3m. Free cash flow improved to €267.6m (H1 2025: €203.8m). Cash and cash equivalents €272.4m. Financial leverage reduced to 1.6x (30 Jun 2026) from 1.9x a year earlier. Dividend paid in H1 2026 was €165.1m (vs €25.9m in H1 2025), driving higher financing cash outflows.

Balance sheet and investments

Total assets €5,035.0m; equity €1,999.3m. Non‑current interest‑bearing debt €1,344.0m. Investment spend (intangible, property, content) €78.6m in H1 2026, below prior year, reflecting lower capitalised workflow/content costs.

Profitability, EPS and financial result

Adjusted EPS €0.71 (H1 2025: €0.83). Basic reported EPS €0.51 (H1 2025: €0.65). Financial result worsened to -€39.7m (H1 2025: -€20.7m), reflecting lower gains on intra‑group currency items and derivative valuations; interest expense fell (approx. €39m) due to debt repayments and refinancing.

Corporate actions and outlook

Divestments: sale of Scientific American closed in June 2026 (Spektrum der Wissenschaft sale completed July 2026). Management now guides to underlying revenue growth of around 6% for FY 2026 and expects adjusted operating profit margin improvement of at least 30 basis points versus 2025.

Summarized from source with an LLMView Source

Key figures

0.70%1Y

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Performance

32.7%1Y

33.1%3Y

33.1%5Y

Volatility