Goldbach
The companies of Goldbach Group market and broker advertising in TV, audio, online, and outdoor advertising. The focus is on simple information, consulting, and booking processes. The goal is to reach end consumers at the right time, in the right place, and in the right context. www.goldbach.com
in CHF mn | 30.06.2026 | 30.06.2025 | Change |
|---|---|---|---|
Advertising revenue 1 | 75.3 | 72.0 | 4.6% |
Classifieds & services revenue 1 | 1.1 | 1.2 | -12.6% |
Commercialisation revenue 1 | 26.0 | 32.9 | -21.0% |
Other operating revenue 1 | 4.6 | 6.6 | -31.0% |
Other income 1 | 0.4 | 0.0 | n.a. |
Revenues | 107.4 | 112.8 | -4.8% |
of which organic revenues 2 | 107.2 | 108.3 | -1.0% |
Operating expense 3 | -61.5 | -80.9 | -23.9% |
Share of net result of associates / joint ventures | -0.0 | 0.0 | n.a. |
Operating income / (loss) before depreciation and amortisation (EBITDA) | 45.8 | 31.9 | 43.5% |
Margin 4 | 42.7% | 28.3% | 14.4%p |
Depreciation and amortisation | -32.9 | -31.2 | 5.5% |
Amortisation resulting from business combinations | -9.2 | -9.8 | -6.2% |
Impairment | -46.4 | - | n.a. |
Operating income / (loss) (EBIT) | -42.7 | -9.1 | 371.4% |
Margin 4 | -39.7% | -8.0% | -31.7%p |
Adjustment 5 | 55.6 | 9.8 | 468.9% |
Operating income / (loss) (EBIT adj.) | 12.9 | 0.7 | n.a. |
Margin 4 | 12.0% | 0.6% | 11.4%p |
Number of employees (FTE) 6 | 459 | 524 | -12.4% |
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 2026 and 2025. In the Goldbach segment, the contributions of Goldvertise Group, Splicky GmbH and AdUnit were excluded in the prior period.
3No IAS 19 pension costs (as in segment reporting).
4The margin relates to revenues.
5Adjustments include an impairment of goodwill of 46.4 CHF mn of the cash-generating unit Goldbach (excl. Goldbach Neo OOH) and amortisation resulting from business combinations (2026: 9.2 CHF mn; 2025: 9.8 CHF mn).
6Average number of employees, excluding employees in associates / joint ventures.
CEO: Christoph Marty
The focus introduced by Goldbach in 2025 is showing results and will continue. The discontinuation and sale of activities reduced the cost base and had a positive impact on earnings and margin, but at the same time led to lower revenues.
- Goldbach without outdoor advertising achieved a margin of 7.7%, and the OOH segment (Goldbach Neo) a margin of 14.1% in the first half of 2026.
- Goldbach Neo’s OOH division performed well in the first half of the year in terms of revenue (+5.7% year-on-year) and result (CHF +9.6 million vs. previous year).
- The core business of mediation and marketing declined in the first half of 2026 in the linear television sector. The drop in the linear business could only be partially offset by growth in digital video formats. As a result of these developments, the review of the goodwill and intangible assets with an indefinite useful life indicated an impairment requirement of CHF 46.4 million, which correspondingly affects the half-year result. This is a one-time effect that does not impact cash flow.
- Swiss Radioworld remained stable in the first half of 2026.
- CTV (connected TV) activities experienced positive development in a difficult linear TV market. The focus in the coming years will be on consistently pursuing the marketing of convergent video formats.