The photo archive, which holds over 12 million images dating from the early days of photography to today, has belonged to the Axel Springer company for about fifty years. It is essential to a style of journalism focused on documenting contemporary history. We use a series of photos to illustrate the dimension of journalistic work done by Axel Springer over the years. The typography and graphic concept are inspired by a typical newspaper layout, giving the annual report a magazine-like look.