Edipresse posts a loss of millions
Edipresse posted a significant net loss in 2009: The group, which will focus on the international magazine business going forward, reported a net loss of 32.3 million Swiss francs in 2009 (previous year: +30.4 million Swiss francs).
The media group from western Switzerland is now concentrating primarily on the international media business, particularly in Eastern Europe and Asia. Edipresse sold the majority of its Swiss media titles to Tamedia in spring 2009 - they will be fully owned by the Zurich-based media group by 2013. These Swiss media activities are currently bundled in Presse Publications SR S.A. (PPSR), in which Tamedia owns 49.9 percent and Edipresse the remainder.
According to SDA, the continuing business, i.e. excluding the outsourced securities, posted a net loss of CHF 29.6 million in 2009 (previous year: CHF +16.1 million) and an operating loss (EBIT) of CHF 24.1 million (previous year: CHF +24.4 million). The loss from discontinued operations amounted to CHF 2.7 million (previous year: CHF +14.3 million).
The losses were mainly due to extraordinary factors, including restructuring costs, as Edipresse emphasized in a press release on Monday. Excluding special factors of almost CHF 47 million, the company was in the black in 2009, according to the statement.
Positive outlook
Sales in continuing operations fell by a good 40% to CHF 178.6 million. On a pro forma basis, i.e. including all Swiss activities, the Group achieved sales of CHF 542 million in 2009 (previous year: CHF 738.2 million).
As in the previous year, shareholders are to receive a dividend of CHF 5.50 per bearer share or CHF 1.10 per registered share. The outlook for the current year is positive, according to the statement. Accordingly, the Group expects to return to profitability in 2010. The Board of Directors has also decided on a share buyback program of CHF 30 million.
According to SDA, the continuing business, i.e. excluding the outsourced securities, posted a net loss of CHF 29.6 million in 2009 (previous year: CHF +16.1 million) and an operating loss (EBIT) of CHF 24.1 million (previous year: CHF +24.4 million). The loss from discontinued operations amounted to CHF 2.7 million (previous year: CHF +14.3 million).
The losses were mainly due to extraordinary factors, including restructuring costs, as Edipresse emphasized in a press release on Monday. Excluding special factors of almost CHF 47 million, the company was in the black in 2009, according to the statement.
Positive outlook
Sales in continuing operations fell by a good 40% to CHF 178.6 million. On a pro forma basis, i.e. including all Swiss activities, the Group achieved sales of CHF 542 million in 2009 (previous year: CHF 738.2 million).
As in the previous year, shareholders are to receive a dividend of CHF 5.50 per bearer share or CHF 1.10 per registered share. The outlook for the current year is positive, according to the statement. Accordingly, the Group expects to return to profitability in 2010. The Board of Directors has also decided on a share buyback program of CHF 30 million.
