2009 was the most difficult year for Affichage
Affichage's revenue plummeted in 2009 amid the economic crisis and the resulting decline in advertising activity, particularly abroad. This was compounded by write-downs, resulting in a net loss of 59.1 million Swiss francs.
The outdoor advertising company reported on Friday that 2009 had been one of the most difficult years in the history of the Affichage Group. In its domestic market, revenue fell by 18.3 percent to 250.1 million Swiss francs, while overseas revenue declined by as much as 26.5 percent to 89.9 million Swiss francs. Impairment charges on acquisitions in Greece and Bosnia, as well as write-offs of accounts receivable abroad, further weighed on the results, the company said. In addition, losses resulted from the sale of operations in Hungary and northern Italy. Operationally, however, the company—founded in 1900—achieved a satisfactory result, particularly in Switzerland. Operating profit before depreciation and amortization of goodwill (EBITDA) was 45.4 percent lower than in the previous year.
Thanks to its strong equity base and sufficient liquidity, the Group’s financial situation remains solid, the statement continues. However, a dividend for 2009 is still out of the question. Affichage had paid out 4.40 francs per share the previous year, with a net profit of 29.6 million francs. Affichage is not in a position to provide a concrete forecast for the current year. Customer booking patterns continue to be characterized by very short lead times and are difficult to predict. Affichage had announced in November that it would cut 20 full-time positions in Switzerland. APG employed a total of 540 people.
Thanks to its strong equity base and sufficient liquidity, the Group’s financial situation remains solid, the statement continues. However, a dividend for 2009 is still out of the question. Affichage had paid out 4.40 francs per share the previous year, with a net profit of 29.6 million francs. Affichage is not in a position to provide a concrete forecast for the current year. Customer booking patterns continue to be characterized by very short lead times and are difficult to predict. Affichage had announced in November that it would cut 20 full-time positions in Switzerland. APG employed a total of 540 people.
