APG divests business activities in Romania
APG is giving up its business in Romania. According to a press release, it has sold its stake in the Eastern European country to the current managing director and his co-investors
It was not disclosed how much the advertising marketer is paying for its Romanian subsidiary. APG describes the sale in Romania as a further step in its strategy of concentrating on business activities in its home market of Switzerland and in Serbia. In 2009 and 2010, the foreign strategy resulted in heavy losses for the company. Operating under the group name Affichage, APG was present in Greece, Bulgaria, Romania, Hungary and in countries of the former Yugoslavia.
In the first half of 2013, the company, which specializes in out-of-home advertising, increased its turnover by 0.4% to CHF 153.4 million. In Switzerland, sales increased by 2 percent. Profit amounted to CHF 21.1 million, compared to a loss of CHF 7.6 million in the first half of 2012. According to APG, the sale of the business in Romania was carried out after the balance sheet date and therefore had no impact on the half-year financial statements.
The company intends to extend its market leadership in the quality segment over the remainder of the year. To this end, four Startowers have already been put into operation in Zurich city center in the first half of the year. These are large illuminated poster pillars that can rotate on their own axis. APG will also focus in particular on expanding its digital product portfolio. For example, so-called "Mountain ePanels" with high-resolution screens are to be installed "at prime locations" in the Grisons mountain sports resorts of Arosa and Lenzerheide for the coming winter season. (uma/SDA)
