TV 3 craze led to 12 million franc loss
Hans Heinrich Coninx, Chairman of the Tamedia Board of Directors, sees the widespread uncertainty in politics and society as the main reason why the Tamedia Group posted a loss of 11.8 million Swiss francs in 2001
Tamedia Chairman of the Board Hans Heinrich Coninx sees the great uncertainty in politics and society as the main reason why the Tamedia Group had to report a loss of 11.8 million Swiss francs in 2001 (2000: 117.1 million Swiss francs profit). However, this poor result is due to special provisions for the purchase of Belcom as well as special write-offs for the now closed TV 3 channel, which tore a hole of CHF 55 million in Tamedia's coffers. Belcom cost a total of 95.8 million francs, but a value adjustment of minus 25 million francs was made immediately.43.4 million francs, allowing a dividend of 1.50 francs per share. Sales fell by 61.8 million francs to 756.1 million francs. The operating result before depreciation and amortization amounts to
145.7 million francs. This corresponds to a margin of 19.3% instead of the expected 25%. "However, our balance sheet is solid and very healthy," emphasized Coninx at the media conference.
The medium-term goal remains a profit margin of 22 to 25 percent. The Focus project and a CHF 20 million savings program are to take effect in the current year. The investment and recruitment freeze will be maintained (pan/mk).
145.7 million francs. This corresponds to a margin of 19.3% instead of the expected 25%. "However, our balance sheet is solid and very healthy," emphasized Coninx at the media conference.
The medium-term goal remains a profit margin of 22 to 25 percent. The Focus project and a CHF 20 million savings program are to take effect in the current year. The investment and recruitment freeze will be maintained (pan/mk).
