Ringier: Lower profit, growing digital business
The Ringier media group reported lower revenue and significantly lower profits in 2015. Nevertheless, the company is satisfied with its results, as its digital business appears to be making progress.
More than a third of revenue now comes from the digital sector, as Ringier announced on Wednesday. In 2014, the share was still just under a third and a year earlier it was around a quarter. The traditional newspaper and magazine business, on the other hand, also lost ground last year, publisher Michael Ringier told journalists. Overall, turnover fell by 4.3 percent to CHF 946 million in 2015. This was also due to currency conversions. Profit almost halved, falling from CHF 21.4 million to CHF 11.3 million. Ringier blames this on costs for new products and new markets, among other things. For several years now, Ringier has been seeking to become less dependent on its core business and is therefore tapping into new sources of income such as digital marketplaces, e-commerce, ticketing, radio and sports marketing. In addition to more than 140 publications, including Blick and Schweizer Illustrierte, Ringier now has around 160 digital platforms and more than 70 mobile applications. (SDA)
