Edipresse reduces losses - merger with Tamedia already in 2011
The Western Swiss media group Edipresse has reduced its loss following the sale of a large portion of its Swiss operations during the last fiscal year. Excluding the sold business units, the loss amounted to 6.2 million Swiss francs.
Edipresse is now focusing on magazines in Eastern Europe, Asia and Switzerland as well as on real estate. The Group also intends to become more active on the Internet. The Swiss operations of Edipresse PPSR will be merged with Tamedia in the coming months. This was announced by Edipresse and Tamedia in separate announcements on Friday. This was originally only planned for the beginning of 2013.
Tamedia acquired 49.9 percent of PPSR last year and now holds a small majority. PPSR owns newspaper titles such as Le Matin and 24 heures.
Edipresse recorded a loss of CHF 29.6 million in the previous year. If the activities sold to Zurich-based Tamedia are taken into account, Edipresse achieved a profit of CHF 30.6 million. Turnover from continuing operations - i.e. excluding the media titles sold to Tamedia - rose by 0.9 percent to CHF 180.2 million. The operating profit EBIT amounted to CHF 2 million, following a loss of CHF 24.1 million in the previous year.
