Basler Zeitung Medien posts best result in ten years
The Basler Zeitung Medien Group closed the 2006/2007 fiscal year with its best results in over a decade. The publishing house announced on Tuesday that consolidated group revenue of 8.1 million Swiss francs was 3.8 million higher than the previous year’s figure. In addition to strict cost management, new investments were also made during the past fiscal year.
The Basler Zeitung Medien (BZM) Group has closed the 2006/2007 financial year with its best result for over ten years. The consolidated group income of 8.1 million francs was 3.8 million above the previous year's result, the publishing house announced on Tuesday. Total sales amounted to 280 million francs, which represents an increase of 3 percent. EBITDA, i.e. earnings before interest, taxes, depreciation and amortization, amounted to 30 million francs, or 10.7 percent of total sales. In a report in the Basler Zeitung, the fact that Ebitda fell in contrast to the reported consolidated profit is explained by the continuing erosion of margins in printing, particularly in commercial printing.
The increase in Group profit is the result of a long-term strategy, according to the press release. The aim is to secure the autonomy and independence of Basler Zeitung Medien. The Baz article also refers to the good economic situation, such as the large number of job advertisements.
Newspaper printing generates good margins. The printing plant of Basler Zeitung Medien benefited from new orders; among other things, it produces 20 Minutes for Lausanne, the Tuesday edition of 20 Minuten for Basel and St. Gallen and the evening newspaper Heute for north-western Switzerland.
In terms of publishing and advertising, these free papers are tough competition for the Baz. Nevertheless, the parent company's turnover increased by 2.6 percent to CHF 137.6 million.
The latest commuter newspaper News, in which Basler Zeitung Medien is involved with Tamedia and the Espace Group, will also be published soon. All in all, BZM boss Beat Meyer hopes that the new free papers will bring in more for his company than they lure away, as he told the news agency SDA when asked.
Tight cost management, which also meant a reduction in jobs, contributed to the result: as of June 30, 2007, the parent company Basler Zeitung and its fourteen subsidiaries employed 1748.4 full-time equivalents. In the previous year, there were still 1777.9 full-time positions, so just under 30 jobs were lost. In addition, a total of around CHF 6 million was invested in new facilities and business areas. For the current financial year 07/08, Basler Zeitung Medien expects the positive result to continue, assuming the economic situation remains unchanged.
The increase in Group profit is the result of a long-term strategy, according to the press release. The aim is to secure the autonomy and independence of Basler Zeitung Medien. The Baz article also refers to the good economic situation, such as the large number of job advertisements.
Newspaper printing generates good margins. The printing plant of Basler Zeitung Medien benefited from new orders; among other things, it produces 20 Minutes for Lausanne, the Tuesday edition of 20 Minuten for Basel and St. Gallen and the evening newspaper Heute for north-western Switzerland.
In terms of publishing and advertising, these free papers are tough competition for the Baz. Nevertheless, the parent company's turnover increased by 2.6 percent to CHF 137.6 million.
The latest commuter newspaper News, in which Basler Zeitung Medien is involved with Tamedia and the Espace Group, will also be published soon. All in all, BZM boss Beat Meyer hopes that the new free papers will bring in more for his company than they lure away, as he told the news agency SDA when asked.
Tight cost management, which also meant a reduction in jobs, contributed to the result: as of June 30, 2007, the parent company Basler Zeitung and its fourteen subsidiaries employed 1748.4 full-time equivalents. In the previous year, there were still 1777.9 full-time positions, so just under 30 jobs were lost. In addition, a total of around CHF 6 million was invested in new facilities and business areas. For the current financial year 07/08, Basler Zeitung Medien expects the positive result to continue, assuming the economic situation remains unchanged.
