NZZ Media Group does well in 2019 thanks to financial result
Although the NZZ Media Group suffered from the shrinking advertising market during the past fiscal year, the publisher was able to maintain its previous year’s results thanks to the positive performance of the financial markets. In addition, the Neue Zürcher Zeitung gained more paying subscribers.
Total operating income fell to CHF 231.3 million due to the sale of the former NZZ regional media companies, as the publisher announced on Thursday. These were transferred to the CH Media joint venture together with the activities of AZ Medien. Adjusted for divestments, total operating income increased by 1 percent.
As the number of subscribers rose by 7% to 166,000, reader market revenue also increased by 2%. While print sales in the advertising market continued to decline in 2019, the digital advertising market increased.
Lower operating result
The operating result EBIT fell by CHF 3.3 million to CHF 17.5 million in 2019, mainly due to the decline in the advertising market. The EBIT margin increased from 5.4 percent to 7.6 percent.
The financial result rose by CHF 2.6 million to CHF 3.0 million. This results in a Group result of CHF 18.4 million, which is CHF 0.4 million below the previous year. Shareholders are to receive an unchanged dividend of CHF 200 per share.
2019 was characterized by the implementation of the strategy. The media group now wants to continue to focus clearly on quality journalism in order to grow further in the user market. "With an increase in the number of subscribers of around 7 percent at the end of 2019, we are on the right track in this regard," Group CEO Felix Graf is quoted as saying in the press release. (SDA)
