UPDATE 1-Axel Springer sees digital offsetting drop in print

* Sees single-digit pct 2012 revenue rise, EBITDA up slightly

* Q2 revenue from digital media up almost 20 pct

* Digital Media almost as big as national newspaper business

* Shares indicated in line with broader market

FRANKFURT, Aug 8 (Reuters) - German publisher Axel Springer affirmed its full-year outlook after its digital media activities pushed quarterly operating profit slightly above market expectations.

The group said on Wednesday second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 6.4 percent to 172 million euros ($213.6 million), above a consensus forecast of 167 million euros.

The company, founded in 1946 by journalist Axel Springer, said it still expects its 2012 revenue to rise by a single-digit percentage, with EBITDA up slightly.

"The Management Board expects that growing revenues in the digital media business will more than compensate for slightly lower revenues in the print business," said Mathias Doepfner, the group's chief executive.

Springer said revenue from its digital activities rose almost 20 percent in the quarter, to 279 million euros. That makes it almost as big as its national newspaper business, which also publishes Germany's largest selling daily 'Bild'.

Digital media now account for 33.5 percent of its revenues, up from 31 percent last year. Still, its newspapers, magazines and print businesses are almost 63 percent of its business.

Shares in Axel Springer are indicated to open 0.1 percent lower, in line with the broader market. They have gained 11 percent so far this year, in line with the STOXX Europe 600 Media index.

The stock trades at a 12-month forward price-to-earnings ratio of 11.8, compared with a multiple of 13.8 for Pearson and 8.8 for ProSiebenSat1, according to StarMine data.