BZM with decline in sales
Basler Zeitung Medien (BZM) reported a decline in revenue in 2012. Revenue totaled 174.6 million Swiss francs, down from 203.8 million Swiss francs the previous year.
The decline was due to the loss of sales within the printing operations (-10.3 million Swiss francs), reduced advertising and distribution revenues (-9.3 million Swiss francs), the discontinuation of brokerage in the electronic media sector by RV Radio Vision (-8.4 million Swiss francs) and the discontinuation of various ancillary activities (-1.2 million Swiss francs), BZM wrote in a statement on Thursday. In fiscal 2012, the operating loss had amounted to 10.8 million francs. Due to value adjustments on machinery and real estate, the loss increased to a total of 36 million francs.
According to the press release, a break-even result is expected for the 2013 financial year. This is due to the reorganization and restructuring measures initiated in the last quarter of 2012.
