Edipresse increases profit in the first half-year
Edipresse increased its profit from 22 to 24.2 million Swiss francs in the first half of the year. However, with revenue of 358.3 million Swiss francs, the Lausanne-based media company saw sales decline by about 10 percent compared with the same period last year.
The Lausanne-based media company Edipresse increased its profit from 22 to 24.2 million francs in the first half of the year. In Switzerland, Edipresse is feeling the effects of the weakening advertising market and the success of free newspapers. On the other hand, business with publications in Eastern Europe and Asia continues to grow well, with the media group posting 13 and 20 percent growth respectively.
Earnings before interest and taxes (EBIT) fell from CHF 39.6 million to CHF 37.6 million. With sales of 358.3 million francs, Edipresse sold around 10 percent less than in the same period last year, as the Group announced on Wednesday.
However, the sales figures can only be compared with the previous year to a limited extent because the Edipresse holdings in Spain were reorganized and their income is no longer included in the overall figures. Without this effect, the Edipresse Group's turnover would have remained at the same level as in the previous year.
In the Newspapers and Internet division, Edipresse increased sales by 3.2 percent thanks to the integration of the online platforms jobup and homegate. The sale of the 50 percent stake in the Portuguese company Edimprensa also helped to keep the tills ringing.
Edipresse invested a total of CHF 8.5 million in the first half of the year, 22 percent more than in the previous year. The Group wants to continue to grow with magazines for luxury goods, particularly in Asia.
Due to the economic slowdown, Edipresse is not venturing any clear forecasts for the immediate future. However, the weakening advertising market in Switzerland and Spain will have an impact on sales. In contrast, the media company expects good business in the Internet division.
Edipresse has announced further cost optimization measures for the current year. In August, Edipresse announced that around 50 jobs would be cut in response to the uncertain outlook for the Swiss media market. This also affects 17 journalists.
The media union Comedia strongly criticized this and accused Epipresse of "greed". Edipresse is the largest media company in French-speaking Switzerland and publishes Le Matin, 24 heures and the Tribune de Genève, among others.
Earnings before interest and taxes (EBIT) fell from CHF 39.6 million to CHF 37.6 million. With sales of 358.3 million francs, Edipresse sold around 10 percent less than in the same period last year, as the Group announced on Wednesday.
However, the sales figures can only be compared with the previous year to a limited extent because the Edipresse holdings in Spain were reorganized and their income is no longer included in the overall figures. Without this effect, the Edipresse Group's turnover would have remained at the same level as in the previous year.
In the Newspapers and Internet division, Edipresse increased sales by 3.2 percent thanks to the integration of the online platforms jobup and homegate. The sale of the 50 percent stake in the Portuguese company Edimprensa also helped to keep the tills ringing.
Edipresse invested a total of CHF 8.5 million in the first half of the year, 22 percent more than in the previous year. The Group wants to continue to grow with magazines for luxury goods, particularly in Asia.
Due to the economic slowdown, Edipresse is not venturing any clear forecasts for the immediate future. However, the weakening advertising market in Switzerland and Spain will have an impact on sales. In contrast, the media company expects good business in the Internet division.
Edipresse has announced further cost optimization measures for the current year. In August, Edipresse announced that around 50 jobs would be cut in response to the uncertain outlook for the Swiss media market. This also affects 17 journalists.
The media union Comedia strongly criticized this and accused Epipresse of "greed". Edipresse is the largest media company in French-speaking Switzerland and publishes Le Matin, 24 heures and the Tribune de Genève, among others.
