Closure of the Schlieren print shop: High write-off
The planned closure of the printing center in Schlieren, ZH, will have a one-time impact of approximately 55 million Swiss francs on the NZZ Media Group’s 2014 annual results.
Myriam Käser, Head of Corporate Communications, confirmed a corresponding report in Bilanz magazine on Thursday. According to Käser, the annual increase in earnings at EBIT level is "in the high single-digit million range". According to research by Bilanz, the one-off write-down will improve the operating result by five or six million francs in each of the following years.
In an interview with the Sonntagszeitung, Etienne Jornod, Chairman of the NZZ Board of Directors, said that a loss was to be expected for 2014 due to the planned closure and the associated write-down. However, he did not provide any figures. The NZZ Group reported a net profit of CHF 24.9 million for 2013.
At the end of November 2014, the NZZ Media Group announced that it intended to close the printing plant in Schlieren for economic reasons and have the Neue Zürcher Zeitung and NZZ am Sonntag printed at the Zurich printing center of its competitor Tamedia.
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