Revenues

Development

The decline in revenue is partly due to structural factors while also reflecting the ongoing focus on core activities. While the drop in print business continues to impact Tamedia and 20 Minuten, part of the decline is attributable to activities at Goldbach that were divested. Adjusted for these portfolio effects, the organic decline in revenue amounted to 4.7%.

In detail:

  • JobCloud: The weaker job market led to a decline in revenue of CHF 2.1 million.
  • Goldbach: Decline in revenue due to the sale of Splicky, Goldvertise and AdUnit, as well as a challenging advertising market.
  • 20 Minuten: Loss of CHF 9.7 million in print revenue following the phasing-out of print, partly offset by further growth in the digital business.
  • Tamedia: Decline in print subscriptions and lower print and logistics earnings. The growth in digital subscriptions only partially compensated for the structural decline in print.
  • This inorganic effect reduced sales by around CHF 4.3 million, which accounts for around one sixth of the reported decline in revenues.

Revenues by segment

The revenue breakdown points to a stable business profile despite the ongoing portfolio transformation. The three media companies Goldbach, Tamedia and 20 Minuten continue to generate around 78% of Group revenue.

The only significant change relates to 20 Minuten, whose share of revenue declined to 8.1% following the exit from print. At the same time, the relative share generated by Goldbach, JobCloud and TX Ventures increased slightly.

Revenues by
category

The revenue structure remained essentially unchanged. Advertising, classifieds & services as well as subscriptions and single sales continue to generate around 86% of Group revenue.

The main changes in the revenue mix are:

  • Advertising revenue rose slightly to 35.8% of revenue share, but came in below the previous year in absolute terms.
  • Despite the decline in print business, the share of subscriptions and single sales increased slightly due to lower Group revenues overall.
  • The share of printing and logistics revenue declined further as a result of the closure of the Bussigny printing centre (CIL).
  • The decline in commercialisation revenue reflects inorganic portfolio changes at Goldbach and weaker performance at Goldbach Media compared with the prior year.