20 Minuten
20 Minuten was launched in late 1999 as a commuter newspaper for a young, urban target group and quickly developed into the highest-reach digital media brand in German-speaking Switzerland, French-speaking Switzerland and Ticino. 20 Minuten delivers journalism that brings people together, with a compact platform that offers a perfect mix of the things that involve, influence and inspire the Swiss population. 20 Minuten provides news from Switzerland and around the world, sport, entertainment and inspiration, as well as a highly popular community area. 20 Minuten journalism is reliable and balanced, enabling readers to form their own opinions.
The 20 Minuten Group includes the news media outlets 20 Minuten, 20 minutes, lematin.ch, the digital station GOAT Radio, and stakes in Tio/20 Minuti in Ticino and Lʼessentiel in Luxembourg. www.20min.ch
in CHF mn | 31.12.2025 | 31.12.2024 | Change |
|---|---|---|---|
Advertising revenue 1 | 79.0 | 93.5 | -15.5% |
Classifieds & services revenue 1 | 3.2 | 3.9 | -17.0% |
Commercialisation revenue 1 | 0.4 | - | n.a. |
Other operating revenue 1 | 2.9 | 4.4 | -33.4% |
Revenues | 85.6 | 101.8 | -15.9% |
of which organic revenues 2 | 85.6 | 92.4 | -7.4% |
Operating expense 3 | -82.6 | -94.2 | -12.3% |
Share of net result of associates / joint ventures | 0.3 | 1.7 | -82.5% |
Operating income / (loss) before depreciation and amortisation (EBITDA) | 3.3 | 9.2 | -64.0% |
Margin 4 | 3.9% | 9.1% | -5.2%p |
Depreciation and amortisation | -0.6 | -1.3 | -51.9% |
Amortisation resulting from business combinations | -1.9 | -2.0 | -0.8% |
Operating income / (loss) (EBIT) | 0.7 | 6.0 | -87.4% |
Margin 4 | 0.9% | 5.9% | -5.0%p |
Normalisation 5 | 1.9 | 1.9 | 0.0% |
Operating income / (loss) (EBIT adj.) | 2.7 | 7.9 | -65.9% |
Margin 4 | 3.1% | 7.8% | -4.6%p |
Number of employees (FTE) 6 | 247 | 287 | -14.0% |
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 20 Minuten segment, the contributions of DJ Digitale Medien GmbH and Lifestyle-supplement Encore! were excluded accordingly in the prior period.
3No IAS 19 pension costs (as in segment reporting).
4The margin relates to revenues.
5Normalisation effects: Amortisation resulting from business combinations (2025: 1.9 CHF mn; 2024: 1.9 CHF mn).
6Average number of employees, excluding employees in associates / joint ventures.
CEO: Bernhard Brechbühl
20 Minuten has further transformed in 2025 and aligned itself with the purely digital future.
- In the fall of 2025, the digital offering underwent a complete relaunch and was aimed at a young target audience. The brand identity was also sharpened.
- At the end of 2025, the print edition was discontinued due to declining sales. At the same time, the editorial teams for the German-speaking and Western Switzerland regions were merged under the leadership of Editor-in-Chief Désirée Pomper. The new editorial team is characterized by quick decision-making processes and a fast pace across the linguistic barrier, as well as strong editorial pieces, especially in on-site reporting.
- The reintegration from marketing at the beginning of 2025 proves to be the right step, despite a longer ramp-up phase in the first half of the year. In the second half of the year, digital sales exceeded the previous yearʼs period. Thanks to the regained closeness to customers and reduced complexity, digital direct marketing was able to grow significantly.
- 2026 will be the first purely digital year for 20 Minuten. The focus is on positive revenue development in a challenging market, among other things through the upcoming launch of new offerings for the user and advertising market, in which investments were already made in the reporting year, such as a new video offering and the football content environment.
- The result in 2025 is on one hand shaped by the effects of the transformation – including lower revenues in the print business, costs for the dismantling of the print infrastructure, and social plan costs related to the restructuring of 20 Minuten – and on the other hand by a high level of cost discipline.
- Also reducing revenues compared to 2024 are the exit from Austria (heute.at), reduced internal services for Tamedia, and the transfer of the lifestyle magazine Encore! to Tamedia – a consistent focus of the company.
Development of digital advertising revenue
Start-up phase of self-marketing
(digital advertising revenue)
Digital advertising revenue for 20 Minuten was down 2.4% in 2025. This decline stems from the start-up phase of the new self-marketing program in the first half of the year (–8.7% year-on-year), whereas revenue in the second half of the year was in fact higher than in the prior-year period (+3.2% year-on-year). In a direct comparison, 20 Minuten increased digital advertising revenue by 24% in the second half of the year compared to the first half.