TX Markets
The TX Markets segment includes the strategic investments in SMG Swiss Marketplace Group (30.72%, at equity consolidation) and the job portal JobCloud (50%, fully consolidated).
in CHF mn | 30.06.2025 | 30.06.2024 | Change |
|---|---|---|---|
Classifieds & services revenue 1 | 56.9 | 62.9 | -9.7% |
Other operating revenue 1 | - | 0.1 | n.a. |
Revenues | 56.9 | 63.0 | -9.7% |
of which organic revenues 2 | 56.9 | 63.0 | -9.7% |
Operating expense 3 | -24.5 | -28.3 | -13.5% |
Share of net result of associates / joint ventures | 12.4 | 11.7 | 5.3% |
Operating income / (loss) before depreciation and amortisation (EBITDA) | 44.7 | 46.4 | -3.7% |
Margin 4 | 78.6% | 73.7% | 5.0%p |
Depreciation and amortisation | -6.9 | -4.9 | 39.1% |
Amortisation resulting from business combinations | -3.8 | -3.8 | 0.0% |
Operating income / (loss) (EBIT) | 34.1 | 37.7 | -9.6% |
Margin 4 | 60.0% | 59.9% | 0.1%p |
Normalisation 5 | 9.4 | 11.7 | -19.7% |
Operating income / (loss) (EBIT adj.) | 43.5 | 49.4 | -12.0% |
Margin 4 | 76.5% | 78.5% | -2.0%p |
Number of employees (FTE) 6 | 276 | 297 | -7.3% |
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 changes in the TX Markets segment.
3No IAS 19 pension costs (as in segment reporting).
4The margin relates to revenues.
5Normalisation effects: Amortisation resulting from business combinations of the associate SMG (2025: 5.6 CHF mn; 2024: 7.9 CHF mn), amortisation resulting from business combinations (2025: 3.8 CHF mn; 2024: 3.8 CHF mn).
6Average number of employees, excluding employees in associates / joint ventures.
JobCloud is the leading platform in the Swiss recruitment market, with the broadest range of job advertisements, and is owned by TX Group and Ringier. The job portals and aggregators jobs.ch, jobup.ch and JobScout24 help candidates find the most suitable position for them. The portfolio offers a variety of services for companies and job-seekers. JobCloud holds a 49% investment (at equity consolidation) in the Austrian job platform Karriere.at, which owns 100% of the marketplace hokify, eRecruiter and jobs.at. www.jobcloud.ch
CEO: Marco Bertoli
JobCloud maintains attractive margin, but feels weakness in the labour market.
- The revenues of JobCloud were negatively affected by the weak labour market.
- This is more clearly noticeable in Austria than Switzerland.
- The margin remained attractive due to strict cost discipline, and JobCloud continues to invest in expanding its business, including AI solutions.
SMG Swiss Marketplace Group is a network of online marketplaces and one of the leading digital companies in Switzerland. SMG was created in mid-November 2021 with the merger of Scout24 Schweiz and TX Markets and is mainly owned by TX Group (30.72%), Ringier (29.32%), Die Mobiliar (29.32%) and General Atlantic (10.03%). The company covers the four areas of real estate, automotive, general marketplaces and finance and insurance. The platforms finance themselves through different fee models ranging from enrolment fees to transaction fees, commissions and various advertising formats. www.swissmarketplace.group
CEO: Christoph Tonini
SMG put in an encouraging performance and is looking to the future with great optimism.
- Over recent years SMG has steadily laid the foundations for sustainable growth and a further increase in profitability. In the first half of the year SMG therefore continued to grow its revenue. There was strong growth across all business divisions, so revenue rose at a double-digit rate.
- The margin also improved considerably compared to the same period last year. This performance is based on the lasting success of the action taken in past years to put in place a cost structure that is scalable and efficient.
- Despite the sharp rise in revenue, the increase in total operating costs was modest. Investments continued to focus on AI integration, continuous product innovations and boosting the level of security to permanently improve the efficiency, functionality and benefit of the platforms for users.