Group & Ventures
The Group & Ventures segment covers TX Groupʼs majority interests in Doodle AG (99.8%) and Zattoo AG (59.4%) as well as interests in the fintech area. Group & Ventures also comprises the TX Group property portfolio and central services departments. www.tx.group
in CHF mn | 30.06.2025 | 30.06.2024 | Change |
|---|---|---|---|
Advertising revenue 1 | 4.1 | 4.7 | -13.3% |
Classifieds & services revenue 1 | 29.7 | 29.2 | 1.9% |
Other operating revenue 1 | 41.3 | 45.4 | -9.0% |
Other income 1 | 0.0 | 0.1 | -93.8% |
Revenues | 75.1 | 79.4 | -5.4% |
of which organic revenues 2 | 75.1 | 79.4 | -5.4% |
Operating expense 3 | -69.3 | -76.3 | -9.2% |
Share of net result of associates / joint ventures | -0.2 | -0.1 | 58.6% |
Operating income / (loss) before depreciation and amortisation (EBITDA) | 5.6 | 2.9 | 90.1% |
Margin 4 | 7.4% | 3.7% | 3.7%p |
Depreciation and amortisation | -11.6 | -10.6 | 9.7% |
Amortisation resulting from business combinations | -0.8 | -0.8 | -7.0% |
Operating income / (loss) (EBIT) | -6.9 | -8.5 | -19.5% |
Margin 4 | -9.1% | -10.7% | 1.6%p |
Normalisation 5 | 0.8 | 0.8 | -7.0% |
Operating income / (loss) (EBIT adj.) | -6.1 | -7.7 | -20.9% |
Margin 4 | -8.1% | -9.7% | 1.6%p |
Number of employees (FTE) 6 | 702 | 802 | -12.5% |
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. There were no material changes in the Group & Ventures segment.
3No IAS 19 pension costs (as in segment reporting).
4The margin relates to revenues.
5Normalisation effects: Amortisation resulting from business combinations (2025: 0.8 CHF mn; 2024: 0.8 CHF mn).
6Average number of employees, excluding employees in associates / joint ventures.
Group Services
- The Groupʼs costs were further reduced, despite the ongoing transformation. Nevertheless, many projects were driven ahead in central services to further step up the level of digitalisation and efficiency. The aim is to sustainably improve results in the years ahead.
Ventures
Fintech
- Positive momentum was maintained once again in the first half of 2025. NAV per share rose to CHF 113.78 and further exciting new investments were made. Along with Pliant – a leading European fintech in virtual credit cards – additions to the portfolio included Particula (rating for tokenised assets), Oxford DataPlan (Bloomberg for alternative data) and a French fintech. www.tx.ventures
Doodle
- In the first half of 2025, Doodle fell short of growth expectations, but showed an encouraging bottom-line result. The advertising market remains challenging. At the start of the year Christian Fielitz, an expert with a proven track record in SaaS, joined as new CEO and will further sharpen the focus on product and marketing. www.doodle.com
Zattoo
- Zattoo also found the first half of 2025 challenging. However, the team won two large clients in B2B/white label, and extended the contract with the largest client.
- Revenue from D2C however was lower than expected. CEO Roger Elsener has laid strategic foundations – including acquiring Green Streams GmbH in May, which will allow Zattoo to expand into additional markets. www.zattoo.com