NZZ in the red again
Annual Results I Although the NZZ's parent company is still operating at a loss, the NZZ Group feels strong enough to take on new challenges.
NZZ is still in the red, the NZZ Group feels healthy
enough to tackle new challenges.2005 sales of the NZZ Group
decreased from CHF 547.0 million to CHF 482.3 million (-11.8
percent). However, this is not only due to the decline in advertising and
Newspaper sales: Last year, the company had sold the
business printing (Zollikofer AG and NZZ Fretz AG) into the joint venture
Swiss Printers AG with Ringier (70%). As a result, the revenue
of the NZZ Group primarily due to consolidation, especially since the start year
of Swiss Printers AG with its restructuring expenses
interestingly enough, was charged to Ringier Print Zofingen AG. Also
Corporate profit decreased significantly. It amounted to 13.6
million francs, a good third less than in 2004.
is largely due to the subsidiaries Tagblatt-Medien
and LZ-Medien, which, according to the communiqué, "clearly positive
contributions to the overall result".
The parent company, NZZ AG, has now for the first time for a full year
no longer acquires advertisements, but instead assigns this work to Publicitas
to the company. A direct benefit of this outsourcing is evident from the
However, this is not evident from the 2005 figures. Although total income rose
of NZZ AG increased from 204.7 to 207.8 million Swiss francs and was just under
the profit zone (deficit: -1.8 million francs). But the increase is
not to the advertising revenue and therefore not actually to Publicitas
to thank for this. On the contrary: the flagship NZZ lost ground compared to 2004.
again 5.2 percent in advertising revenue, while the NZZ Folio recorded a
down 3.2 percent and the NZZ am Sonntag (NZZaS) was down 4.6 percent.
lower than in the previous year and once again required investment.
The NZZ also notes that the cooperation with the P
are only "likely to bear fruit in the medium term".
Freie Presse Holding (FPH) also reported positive results.
out. Its turnover rose by CHF 5.3 million to CHF 279.8 million. The
However, profit fell by 24.1 percent to CHF 18.6 million. The FPH
These include the investments in Tagblatt-Medien, Bund
and affiliated with the Zürcher Landzeitungen.
LZ Holding close to the record
Within the NZZ Group, however, it is once again LZ Holding that
works particularly successfully. As early as 2004, she had already
record values from 2000, and in 2005 one of them even reached
were exceeded: LZ Holding reports a result of 11.7 million
1.7 million francs more than in 2000 and almost 2 million
In contrast, sales in 2005 were 134.2 francs higher than in 2004.
million francs is still just below the previous record, but
by exactly CHF 10 million or 8 percent above the 2004 figure.
The increase in sales was primarily due to a company acquisition and to a
in the printing business as well, the advertising, subscription and
Kiosk income, on the other hand, declined.
The situation is similar in eastern Switzerland at the Tagblatt media group,
which had already published initial figures for the 2005 financial year
had. In addition to advertising revenues, the company also reported declining
Radio Aktuell, on the other hand, achieved its best result in 2005.
result of its history. Advertising revenue increased last year by
13 percent. At Tele-Eastern Switzerland, spot and
sponsorship income and income from media patronage by 17 percent.
The amounts paid by the two regional publishers to the
NZZ Group is not disclosed. What is interesting
however, how cash flows are organized within the Group.
LZ Holding is a direct subsidiary (51 percent) of the AG for the
Neue Zürcher Zeitung (Group), while the Tagblatt media of the
NZZ subsidiary Freie Presse Holding (FPH). This is
relevant insofar as PubliGroupe also holds an 11 percent stake in FPH.
is involved. In other words, the dividends of the particularly
LZ Holding, which is performing well, will benefit the NZZ Group in full.
while those of the Tagblatt media initially still had to deal with the
PubliGroupe will have to be shared. Either way, the NZZ Group sees
According to the communiqué, the company is "committed to mastering future
well equipped for the challenges ahead".
Markus Knöpfli
