Goldbach
Goldbach markets and brokers advertising across the following areas: TV, radio, print, online, mobile, out-of-home advertising and performance marketing. The advertising inventories originate mainly from private TV broadcasters (groups), radio stations, private and public owners of outdoor advertising spaces or providers of sites for outdoor advertising spaces, websites (online publishers) and newspaper publishers. www.goldbach.com
in CHF mn | 30.06.2025 | 30.06.2024 | Change |
|---|---|---|---|
Advertising revenue 1 | 72.0 | 73.7 | -2.3% |
Classifieds & services revenue 1 | 1.2 | 3.0 | -58.9% |
Commercialisation revenue 1 | 32.9 | 53.7 | -38.8% |
Other operating revenue 1 | 6.6 | 3.5 | 87.7% |
Other income 1 | 0.0 | - | n.a. |
Revenues | 112.8 | 134.0 | -15.8% |
of which organic revenues 2 | 112.8 | 127.2 | -11.3% |
Operating expense 3 | -80.9 | -95.8 | -15.6% |
Share of net result of associates / joint ventures | 0.0 | 0.1 | -74.3% |
Operating income / (loss) before depreciation and amortisation (EBITDA) | 31.9 | 38.3 | -16.5% |
Margin 4 | 28.3% | 28.6% | -0.2%p |
Depreciation and amortisation | -31.2 | -31.3 | -0.3% |
Amortisation resulting from business combinations | -9.8 | -9.7 | 0.3% |
Operating income / (loss) (EBIT) | -9.1 | -2.8 | 225.6% |
Margin 4 | -8.0% | -2.1% | -6.0%p |
Normalisation 5 | 9.8 | 9.9 | -1.8% |
Operating income / (loss) (EBIT adj.) | 0.7 | 7.2 | -90.0% |
Margin 4 | 0.6% | 5.3% | -4.7%p |
Number of employees (FTE) 6 | 524 | 795 | -34.1% |
1Includes third-party revenue and revenue vis-à-vis other TX segments.
2Includes only companies and activities that were included in the scope of consolidation for the entire reporting period 2025 and 2024. In the Goldbach segment, the contribution of dreifive Group and Goldbach Austria Group was excluded in the prior period. The previous period includes the revenue of Tamedia Advertising (formerly Goldbach Premium Publishing) and Goldbach Regional, both of which were transferred to Tamedia on 1 January 2025.
3No IAS 19 pension costs (as in segment reporting).
4The margin relates to revenues.
5Normalisation effects: Amortisation resulting from business combinations (2025: 9.8 CHF mn; 2024: 9.7 CHF mn), correction of deferred revenue from initial consolidation of Clear Channel Switzerland (2024: 0.2 CHF mn).
6Average number of employees, excluding employees in associates / joint ventures.
CEO: Christoph Marty
Goldbach is setting course for a successful future.
- The reintegration of the marketing of the advertising inventory of Tamedia and 20 Minuten as of 2025 has put Goldbach in a changed starting position. From now on the focus will be on the areas of TV/radio/OOH and digital. This has made it possible to adapt the structure, reduce complexity and increase independence.
- Goldbach Austria was sold at the end of 2024 and is not included in the figures for January to June 2025.
- The dreifive Group was sold in April 2024 and was therefore consolidated for three months. It is not included in the current reporting period.
- The core brokering and marketing business was down slightly in TV and radio in the first half of 2025. In linear TV Goldbach faces a structural decline. The aim is to offset this decline with advertising in time shifting television. These “replay ads” posted a positive performance; revenue more than doubled.
- The out-of-home advertising area at Goldbach Neo was stable year-on-year. At the start of the year Goldbach Neo won the tender for the City of St. Gallen.
- At CHF 0.7 million the result is below the previous yearʼs half-year result (EBIT adj. CHF 7.2 million). Goldbach Neo recognised a provision of CHF 4.8 million in the first half for a marketing agreement. Adjusted for this effect, the result was CHF 5.5 million.