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Known primarily for media brands such as “Tages-Anzeiger” or “20 Minuten”, TX Group had operating income of CHF 925.2 million, or minus 3.4 percent in the year reviewed. It should be noted that the sales of the important digital marketplaces Homegate, Ricardo, tutti.ch and Car For You 2022 are no longer included. All of these are now owned by the Swiss Marketplace Group (SMG).
Organically, TX Group’s sales increased 6.7 percent. As the company announced on Thursday, the JobCloud business platform, Goldbach’s new job in outdoor advertising, and high paper prices in its print business at Tamedia all contributed to this.
Operating profit figures are less gratifying. Operating profit at EBITDA fell nearly 91 percent to 5.9 million. And the operating result before the effects of the business combinations highlighted by TX management also dropped significantly by 56.2 percent to CHF 56.0 million. The margin was still 6.0 percent after 13.4 percent the previous year. The group cites high paper prices, investment in out-of-home advertising, losses in related companies and the uncertain economic environment as reasons for the decline.
As a result, 4.6 million were lost. This is in striking contrast to last year’s roughly 833 million profits. At that time, the group benefited mainly from the ledger profit of CHF 778.5 million resulting from the contribution of online marketplaces to the newly formed joint venture SMG.
“The 2022 financial balance sheet is unsatisfactory: our companies Tammedia, 20 Minuten and Goldbach are not meeting expectations,” said Pietro Supino, publisher and Chairman of the Board.
As a result of the lower result, the payment is withheld. Shareholders will receive regular dividends of CHF 0.30 after CHF 3.20 in the previous year. In addition, a special distribution of CHF 4.20 will be made from the flow of funds following the founding of the Swiss Marketplace Group.
The key pillar of the group’s results, TX Markets, reported lower operating income for 2022 as a result of the split of its online marketplaces, but managed to increase profitability again. The adjusted EBITDA margin increased to 66.7 percent from 42.9 percent a year earlier. JobCloud in Switzerland and karriere.at in Austria are particularly well developed. Both take advantage of the current shortage of skilled workers.
Advertising sales company Goldbach has grown in terms of sales. However, as a result of high investments in the transformation of the company, profitability fell significantly.
The economic situation in the group’s traditional core publishing business remains difficult. Both suburban media (20 Minuten) and paid media titles (Tamedia) have suffered from economic and geopolitical uncertainties, the continued transformation of the media industry, and high paper prices.
Adjusted earnings margins (EBIT) are low or very low, at 13.3 percent for 20 minutes and just 1.4 percent for Tamedia.
As always, TX Group management does not give a concrete outlook for this year.
Stephanie Caspar and Claudia Coninx-Kaczynski were recommended to the Board of Directors. As previously announced, Christoph Tonini will be eliminated. Takes over the positions of CEO and Board Delegate of SMG Swiss Marketplace Group. Andreas Schulthess will no longer race either.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
