The total losses at Group level amounted to CHF 40 million, as AZ Medien announced on Monday. Turnover rose by 19.5 percent compared to the previous year to 240.7 million francs. However, the figures are not comparable with the previous year, as the Solothurn-based Vogt-Schild-Holding was included for the first time. AZ Medien acquired the publisher of the Solothurner Zeitung in the spring. This acquisition was the largest investment in the past year, as the company stated.
Money also flowed into the conversion of the old customer printing plant in Aarau Telli into a media center. Due to low earnings, AZ Medien initiated a round of savings in June. In the process, 65 jobs were cut at AZ Medien alone. No figures were published for cost-cutting measures at Vogt-Schild-Holding.
AZ Medien suffered its third profit slump in a row. In 2008, profits plummeted by 89 percent to 1.2 million francs. Even then, 30 jobs had been cut. In 2007, profits fell by 24.7 percent.
Changes to the Board of Directors
As planned for some time, Jürg Schärer, member since 1996, Chairman of the Board of Directors since 1998, and Georg Müller, member since 1996, will retire from the Board of Directors at the time of the Annual General Meeting. Publisher Peter Wanner will be proposed as the new Chairman, and attorney Kaspar Hemmeler, Aarau, will be proposed for election to the Board of Directors.