CH Media closes 2023 with a loss of 2.4 million francs
The media company CH Media reported a loss of 2.4 million Swiss francs in 2023. As it announced on Tuesday, the fiscal year proved challenging due to the digital transformation and the economic slowdown. Revenue rose by 3.5 percent.
However, according to the press release, the increase in turnover to CHF 445 million was the result of acquisitions. In addition to the structural decline in the traditional printing business, a slump in advertising in the second half of the year had a negative impact on business.
Additional costs for new business areas, investments in its own IT structure, restructuring costs and costs for cyber attacks also weighed on the result. CH Media therefore had to take cost-cutting measures. Following the consultation process, these led to the reduction of 140 full-time positions. In 2022, CH Media had still generated a profit of CHF 20.7 million.
CH Media expects the revenue situation to remain tight in the current year. According to the company, however, the cost-cutting measures should stabilize the result and allow long-term investments in digitization and journalistic offerings. (SDA)
