NZZ Group: 35.3 million francs profit
The NZZ Media Group posted a profit of 35.3 million Swiss francs for the 2010 fiscal year. The main reasons cited for the significantly improved result compared with the previous year are a sharp reduction in operating expenses and increased revenue across nearly all revenue segments.
The 2010 financial year brought the "expected turnaround" for the NZZ Media Group, according to the company. On the one hand, the economic recovery in the media industry from the fall of 2010 had a positive impact on sales, the company wrote in a statement. On the other hand, the restructuring of the Group initiated in 2009 took full effect in the year under review. At the operating result (Ebit) level, a profit of 47.2 million Swiss francs was achieved, exceeding the previous year's result by 43.5 million Swiss francs. The Ebit margin was 9.1 percent compared to 0.8 percent in the previous year. Following a loss of 3.1 million Swiss francs in the previous year, the Group result of 35.3 million Swiss francs also shows the significant improvement in the Group's results. The Board of Directors proposes to the Annual General Meeting that a dividend of 2000 Swiss francs per share be paid for the 2010 financial year.
Total operating income increased by 4.8 percent year-on-year to 518.4 million Swiss francs, the statement added. Advertising revenues showed a slight recovery in the second half of the year and amounted to 193.5 million Swiss francs (+ 5.3 percent), also thanks to new acquisitions. Subscription and retail revenues increased by 4.2 percent to 151.7 million Swiss francs. In an industry environment characterized by production overcapacity, print revenues remained virtually at the previous year's level at 73.7 million Swiss francs. Income from electronic media rose by 18.7 percent to 46.8 million Swiss francs. According to the press release, the significant increase is the result of consistently improved sales in all sub-segments (radio, television, classifieds, online). Other revenues improved by CHF 1.9 million year-on-year to a total of CHF 53.8 million. Thanks to synergy effects and cost-cutting measures, total operating expenses were reduced by CHF 4.0 million to CHF 471.2 million. This is reflected in the increase in operating profit (EBIT) from 3.7 to 47.2 million Swiss francs. Cash flow from operating activities doubled from 36.3 to 74.4 million Swiss francs. The equity ratio increased from 68.2 percent to 69.2 percent. Despite acquisitions, the Group's headcount remained constant at 1607 full-time positions (previous year 1608).
Business Division Neue Zürcher Zeitung
In the Neue Zürcher business unit, sales rose by CHF 6.6 million to CHF 194.4 million. At CHF 86.7 million, advertising sales were CHF 1.2 million higher than in the previous year. According to the press release, income from subscription and single-unit sales rose by a pleasing 2.2 million Swiss francs to 74.2 million Swiss francs. Operating expenses including depreciation were reduced by 13.3 to 173.2 million francs. The operating result (Ebit) improved from CHF 1.3 million in the previous year to CHF 21.2 million.
Business Division FPH Freie Presse Holding
In the FPH Freie Presse Holding business unit, sales rose by CHF 19.4 million to CHF 327.7 million. Here, too, advertising sales recovered. It rose by 8.5 million to 106.8 million Swiss francs. FPH includes the holdings in regional publishers such as Neue Luzerner Zeitung, St.Galler Tagblatt, Radio Pilatus, FM1, Tele 1 and Tele Ostschweiz.
(Image: Keystone)
