LZ Medien Holding with lower sales and higher profit

Sales in the reader market remained stable. LZ Group sales amounted to CHF 125.3 million in 2015, 7.7 percent less than in the previous year. Operating profit (EBIT) of 9.5 million francs was 10.6 percent higher than the previous year, and group profit rose by 2.9 million francs to 8.3 million francs, the company announced on Thursday evening. LZ Medien Holding reported lower advertising revenues than in 2014, citing structural changes in the industry. However, due to the new central sales organization NZZ Media Solutions and the merger of regional specialist publishers, revenues were not comparable with the previous year, it said. Revenues from the printing business and other revenues declined slightly. LZ Medien was able to save costs with unspecified measures to increase efficiency. Operating expenses declined by 8.9 percent to 115.8 million Swiss francs. As in the previous year, the Board of Directors proposes a dividend of 80 Swiss francs plus a special dividend of 80 Swiss francs per share.

Chairman of the Board Bachmann resigns

The Annual General Meeting also has to appoint a new Chairman of the Board of Directors. Chairman Erwin Bachmann is stepping down because he has reached the age limit of 70. The Board of Directors proposes Doris Russi Schurter, a former member of the Board of Directors and attorney, as his successor. Hilmar Gernet is proposed as a new member of the Board of Directors. Urs Schweizer, who left the management of the NZZ Media Group at the end of 2015, will also relinquish his mandate. His seat is to be taken by Jürg Weber. He is Head of Regional Media at the NZZ Media Group. The five-member board of directors also includes Veit Dengler, CEO of NZZ Media Group, and Jörg Schnyder, Chief Financial Officer of NZZ Media Group. (SDA)