Edipresse doubles half-year profit
The Lausanne-based publishing house Edipresse nearly doubled its net income in the first half of 2007. In its newspaper division, however, the media company reported a 1.2 percent decline in revenue to 176.3 million francs.
The Lausanne-based publishing house Edipresse almost doubled its net profit in the first half of 2007. The bottom line was 22 million francs. In the same period last year, the profit amounted to 11.2 million francs. Turnover fell by 3.5 percent to 428.7 million francs. Earnings before interest and taxes (EBIT) increased from 23.8 million to 45.9 million francs. This development was mainly due to the magazine division, the company announced on Thursday. Edipresse was particularly successful with magazines in the countries of Eastern Europe and Asia.
In the newspaper business, Edipresse recorded a 1.2 percent decline in income to CHF 176.3 million. The publishing house is mainly active in Switzerland. While subscription income remained almost stable at CHF 36.9 million, sales of paid daily newspapers declined. This is due to competition from the in-house free newspaper Le matin bleu and 20 minutes from rival Tamedia.
Le Matin bleu and the regional newspapers were the main beneficiaries of the 0.8 percent increase in advertising volume at Edipresse. Meanwhile, the newsstand newspaper Le Matin was the loser.
According to Edipresse, the main reason for the drop in turnover is the change in the consolidation framework - particularly in the printing business. On a comparable basis, turnover would have increased by 3.3 percent. Among other things, in 2006 the publishing house transferred the IRL print shop to Swiss Printers, the largest web offset printing group in Switzerland. This business volume is now no longer included in the half-year figures. Edipresse now only holds a 16 percent financial stake in Swiss Printers.
In the newspaper business, Edipresse recorded a 1.2 percent decline in income to CHF 176.3 million. The publishing house is mainly active in Switzerland. While subscription income remained almost stable at CHF 36.9 million, sales of paid daily newspapers declined. This is due to competition from the in-house free newspaper Le matin bleu and 20 minutes from rival Tamedia.
Le Matin bleu and the regional newspapers were the main beneficiaries of the 0.8 percent increase in advertising volume at Edipresse. Meanwhile, the newsstand newspaper Le Matin was the loser.
According to Edipresse, the main reason for the drop in turnover is the change in the consolidation framework - particularly in the printing business. On a comparable basis, turnover would have increased by 3.3 percent. Among other things, in 2006 the publishing house transferred the IRL print shop to Swiss Printers, the largest web offset printing group in Switzerland. This business volume is now no longer included in the half-year figures. Edipresse now only holds a 16 percent financial stake in Swiss Printers.
