AZ Medien: Profit down to just 1.8 million francs
AZ Medien generated an operating profit (EBITDA) of 28.6 million Swiss francs in 2013. The company’s net income of 1.8 million Swiss francs—significantly lower than the previous year—is attributable to depreciation, investments, and changes in the portfolio.
At CHF 242.2 million, Group sales were down CHF 9.5 million (portfolio-adjusted CHF -6.2 million) on the previous year, mainly due to declining sales in the core business, according to the press release. In operational terms, the decline in sales in the classifieds market had the biggest negative impact at more than CHF 4 million. Positive effects were recorded in the subscription business, the print and TV divisions, as well as the book publishing business. The strong regional roots and diversified business activities could not fully compensate for the persistently difficult market development. Thanks to cost discipline in all areas, AZ Medien achieved an EBITDA of CHF 28.6 million. This corresponds to a decline of 13.3 percent. In contrast to the previous year, the 2013 financial year did not record any special effects or acquisitions.
In the past financial year, loans and mortgages amounting to CHF 6 million were repaid. With a self-financing ratio of 48.7 percent, AZ Medien has a solid capital base despite high investment activity. The Board of Directors of AZ Medien approved investments totaling over CHF 45 million in 2013, in particular for the new printing press, the new TV24 channel and the investment in the mobile news portal Watson. AZ Medien is thus investing in three central pillars of the media business - the traditional newspaper business, the TV business and the digital future.
The AZ Medien annual report will be published at the beginning of May on Azmedien.ch published. The Annual General Meeting will take place on May 23, 2014.
