Deep red figures, additions to the Board of Directors and sale of publishing interests
Publigroupe continues to operate at a loss. In addition, the top management body is set to be expanded with the election of two new board members: Andreas Schönenberger and Kjell Aamot.
In the previous financial year, the loss amounted to CHF 20.9 million. In the previous year, the loss amounted to 42.1 million francs. Turnover fell further by almost a quarter to 1.6 billion francs. In its press release on Friday, the advertising marketer attributes the drop in turnover in particular to the decline in the print advertising markets.
Publigroupe intends to forego the distribution of a dividend. In addition, two new board members are to be added to the top management body. Kjell Aamot and Andreas M. Schönenberger have been proposed for election. Kjell Aamot was President and CEO of the international media group Schibsted ASA from 1989 to 2009. Andreas M. Schönenberger was responsible for the Swiss market as Country Manager at Google for the last four years. Their competencies are in line with the Group's strategic priorities, according to the Publigroupe press release.
The Group's operating loss fell from CHF 40 million to CHF 4.5 million. This is the result of massive cost savings and the positive development of some business segments. A moderate improvement in results is expected for the current financial year, the press release continues. Costs are to be reduced by a further CHF 38 million. The company had already cut costs by CHF 55.1 million in 2009.
Almost all of Publigroupe's publishing holdings are now up for sale. Probably for strategic reasons, the publishing stake in Freie Presse Holding, which belongs to NZZ, is the only one not up for sale. Last year, the media marketer renewed the marketing contracts for the Neue Zürcher Zeitung, the St. Galler Tagblatt and the titles associated with the Neue Luzerner Zeitung. However, the investments in Edipresse, Südostschweiz Mediengruppe and Sociétà Neuchâteloise de Presse are also up for renewal. As Publigroupe CEO Hans-Peter Rohner said at the Publigroupe media conference on Friday, talks are currently underway and a negotiated solution is already foreseeable in some cases.
Publigroupe has already sold its stake in Basler Zeitung Medien this year. It was acquired in February by financier Tito Tettamanti and lawyer Martin Wagner.
Basler Zeitung is sold to private investors
The French-speaking Swiss media marketer has also sold off a fairly large number of other share packages from publishers in recent years. The intention is to get rid of the lead holdings in order to replace them with digital activities, as Rohner said at the conference. This is part of the Group's repositioning, which includes expanding its activities in the electronic media sector.
Publigroupe intends to forego the distribution of a dividend. In addition, two new board members are to be added to the top management body. Kjell Aamot and Andreas M. Schönenberger have been proposed for election. Kjell Aamot was President and CEO of the international media group Schibsted ASA from 1989 to 2009. Andreas M. Schönenberger was responsible for the Swiss market as Country Manager at Google for the last four years. Their competencies are in line with the Group's strategic priorities, according to the Publigroupe press release.
The Group's operating loss fell from CHF 40 million to CHF 4.5 million. This is the result of massive cost savings and the positive development of some business segments. A moderate improvement in results is expected for the current financial year, the press release continues. Costs are to be reduced by a further CHF 38 million. The company had already cut costs by CHF 55.1 million in 2009.
Almost all of Publigroupe's publishing holdings are now up for sale. Probably for strategic reasons, the publishing stake in Freie Presse Holding, which belongs to NZZ, is the only one not up for sale. Last year, the media marketer renewed the marketing contracts for the Neue Zürcher Zeitung, the St. Galler Tagblatt and the titles associated with the Neue Luzerner Zeitung. However, the investments in Edipresse, Südostschweiz Mediengruppe and Sociétà Neuchâteloise de Presse are also up for renewal. As Publigroupe CEO Hans-Peter Rohner said at the Publigroupe media conference on Friday, talks are currently underway and a negotiated solution is already foreseeable in some cases.
Publigroupe has already sold its stake in Basler Zeitung Medien this year. It was acquired in February by financier Tito Tettamanti and lawyer Martin Wagner.
Basler Zeitung is sold to private investors
The French-speaking Swiss media marketer has also sold off a fairly large number of other share packages from publishers in recent years. The intention is to get rid of the lead holdings in order to replace them with digital activities, as Rohner said at the conference. This is part of the Group's repositioning, which includes expanding its activities in the electronic media sector.
