Affichage increases in Eastern Europe
The billboard advertising company no longer expects a turnaround in Switzerland this year
The billposting group no longer expects a trend reversal in Switzerland this yearBy Markus Knöpfli The consolidated sales of the billposting company Affichage fell by 1.4% in the first half of 2002 compared to the same period last year. The operating result fell by 6.6%. The consolidated result fell by 11.5% to CHF 12.5 million.
While Affichage's sales revenue in Switzerland fell by 5% to CHF 138.5 million in the first half of 2002 due to the economic situation, the Eastern European subsidiary Europlakat International (EPI) was able to increase its sales by 35.3% to CHF 19.1 million. This means that EPI not only contributed CHF 13.8% to total group sales, EPI also ensured that the decline of minus CHF 1.4% to CHF 157.6 million compared to the first half of 2001 was moderate.
In fact, a lot has happened in Affichage's entire Eastern European business in the first half of the year: EPI has increased its stake in the small Czech outdoor advertising company Usti from 16 to 84%. And in Slovenia's capital Ljubljana, EPI was awarded the contract for street furniture. However, the contract has not yet been signed, said Affichage CEO Christian Kauter.
Conversely, Affichage transferred its holdings in the Czech Republic and Slovakia, which were not integrated into EPI, to EPI partner JCDecaux (JCD), although this only became legally effective on July 1. New companies in Hungary and Bulgaria also only joined EPI after July 1. In Hungary, this involves the large-scale provider Avenir, which JCD has now integrated into EPI.
In Switzerland, the APGplus reorganization project launched last autumn resulted in the reduction of 20 jobs and thus lower expenditure on personnel (down EUR 5.61TP3 thousand) and administrative costs (down EUR 1.41TP3 thousand). Affichage does not expect a turnaround in its domestic market this year, but hopes to roughly maintain its share of the Swiss advertising pie, according to the letter to shareholders.
Affichage in figures (in 1000 CHF) 1st half-year 1st half-year Change
2002 2001 in %
Sales proceeds 157 631 159 911 - 1.4
Operating result 17 453 18 689 - 6.6
Consolidated net income 12 479 14 102 - 11.5
While Affichage's sales revenue in Switzerland fell by 5% to CHF 138.5 million in the first half of 2002 due to the economic situation, the Eastern European subsidiary Europlakat International (EPI) was able to increase its sales by 35.3% to CHF 19.1 million. This means that EPI not only contributed CHF 13.8% to total group sales, EPI also ensured that the decline of minus CHF 1.4% to CHF 157.6 million compared to the first half of 2001 was moderate.
In fact, a lot has happened in Affichage's entire Eastern European business in the first half of the year: EPI has increased its stake in the small Czech outdoor advertising company Usti from 16 to 84%. And in Slovenia's capital Ljubljana, EPI was awarded the contract for street furniture. However, the contract has not yet been signed, said Affichage CEO Christian Kauter.
Conversely, Affichage transferred its holdings in the Czech Republic and Slovakia, which were not integrated into EPI, to EPI partner JCDecaux (JCD), although this only became legally effective on July 1. New companies in Hungary and Bulgaria also only joined EPI after July 1. In Hungary, this involves the large-scale provider Avenir, which JCD has now integrated into EPI.
In Switzerland, the APGplus reorganization project launched last autumn resulted in the reduction of 20 jobs and thus lower expenditure on personnel (down EUR 5.61TP3 thousand) and administrative costs (down EUR 1.41TP3 thousand). Affichage does not expect a turnaround in its domestic market this year, but hopes to roughly maintain its share of the Swiss advertising pie, according to the letter to shareholders.
Affichage in figures (in 1000 CHF) 1st half-year 1st half-year Change
2002 2001 in %
Sales proceeds 157 631 159 911 - 1.4
Operating result 17 453 18 689 - 6.6
Consolidated net income 12 479 14 102 - 11.5
