Goldbach with less bright business
Goldbach, an advertising agency that had been growing rapidly, has suffered a setback. Following its withdrawal from the Czech Republic and Russia, as well as the loss of clients in the Adriatic region, its first-half revenue declined by 1.6 percent to 216.9 million Swiss francs.
The bottom line is that profit has more than halved from CHF 2.6 million in the same period of the previous year to CHF 1.1 million. As Goldbach also announced on Wednesday, the company is also withdrawing from Romania. And in Poland, the company is giving up another part of its activities with the agency business. For the time being, there are no more major leaps in the home countries: in the main markets of Switzerland, Germany and Austria (DACH), sales grew by 0.9 percent to CHF 209.8 million.
The Swiss TV advertising market developed slightly positively overall. However, as the marketer of many private stations, Goldbach suffered from shifts in advertising budgets to SRG channels due to the Winter Olympics and the Football World Cup. Last year's change in TV reach measurement, which led to lower overall ratings for the stations marketed by Goldbach, also had an impact. Despite the difficult environment, the management confirmed its forecasts. Sales are expected to be at the previous year's level and a profit of around seven million francs, as CFO Lukas Leuenberger explained in a telephone conference. (SDA)
