NZZ makes two million francs more profit
In the first half of 2024, the media company NZZ posted an operating profit before interest and taxes of 6.8 million Swiss francs. That is 2 million more than in the previous year. Revenue, at 118 million Swiss francs, was slightly lower than in mid-2023.
Total operating income fell by around one percent year-on-year to 118.3 million francs, as the Zurich-based publishing house announced on Wednesday.
In the user market, the media company recorded higher revenues - for example thanks to the acquisition of the financial magazine The Market. However, this was not enough to offset the decline in advertising income. In the print sector, income in the advertising market fell by five percent to CHF 16.4 million and in the digital sector by four percent to CHF 21.1 million.
Income from partnerships in the event sector - such as with the Zurich Film Festival - was also six percent lower at CHF 8.4 million. The NZZ wrote of an "increasingly difficult market environment" and "intensified competition".
Total operating expenses fell much more sharply than income: in the first half of 2024, they amounted to 111.6 million Swiss francs, around three percent or 2.9 million Swiss francs less than in the same half of the previous year. According to the press release, the reduction in costs was primarily due to efficiency gains. (SDA/swi)
