LZ Media with lower sales and profits
Last year, the LZ Medien media group saw its revenue decline by 4.4 percent to 157.9 million Swiss francs. Operating profit fell by 8.2 percent from the previous year to 12.5 million Swiss francs.
The unstable economic situation and uncertainty in the market caused advertising market and print revenues in particular to decline in 2012, LZ Medien announced on Friday. Nevertheless, the group's net profit increased by eight percent to 11.5 million Swiss francs. This was due to a good financial result. Thanks to a good performance on the capital markets, increases in value could be achieved on the strategic securities investments.
Revenues from advertising slumped by 9 percent year-on-year to 59.2 million Swiss francs. In the reader market, too, the LZ Group took in 3.3 percent less money, namely 39.7 million Swiss francs. Readership figures were stable, but newspaper circulations declined, the company adds.
Increased competition and restructuring measures would have depressed earnings in the print business. Print sales amounted to 34.9 million Swiss francs in 2012. This is 9.4 percent less than in the previous year. Other income, on the other hand, increased significantly by 17.4 percent to 24.1 million Swiss francs. This was mainly due to an acquisition in the calendar business. The company reduced operating expenses by 6.1 to 145.3 million Swiss francs. Group-wide cost-cutting and restructuring measures were implemented, the statement added.
The LZ Media Group publishes the Neue Luzerner Zeitung and its regional editions for the cantons of Uri, Schwyz, Obwalden, Nidwalden and Zug. The media group also includes the subsidiaries Radio Pilatus and Tele 1. The group had 524 employees at the end of 2012. In the previous year, the figure was 555. (SDA)
