SRG posts another loss in 2009 - high deficit expected for 2010

Commercial income fell by CHF 16.5 million to CHF 344.6 million (-4.6%) in 2009. Other income also decreased by CHF 24.2 million and amounted to CHF 66.5 million (-26.7%). In the reporting year, there was also an increased cash outflow (free cash loss) of CHF 110.3 million (previous year: CHF 52.6 million). Borrowed capital had to be increased from CHF 260.3 million to CHF 335.8 million, while equity fell from CHF 609.8 million to CHF 563.1 million. Excluding the reserves for the pension fund, the equity ratio fell from 44.3% to 41.4% of the balance sheet total and is therefore only just within the range of 40% to 50% set by the Board of Directors (BoD).

Fee increases did not generate any additional income
The loss of revenue was only partially offset by the increase in fee income of CHF 24.4 million to CHF 1,153.3 million (+2.2 percent). Since 2000, SRG has not been able to generate any additional income through fee increases: The fee adjustment in 2007 (2.5 percent) served to finance the fee splitting for private radio and television, while the increase in 2003 (4.1 percent) was a partial compensation for the social policy fee exemption for recipients of AHV and IV supplementary benefits. However, the falling revenue was partially offset by three savings packages (2005, 2007 and 2008) amounting to a savings volume of over CHF 100 million.
In June 2009, the Board of Directors approved a restructuring concept and decided on a savings package effective from 2010, which includes a general and individual wage freeze in 2010 as well as an investment freeze and sales in the real estate sector. In 2009, full-time positions were capped at the 2008 budget. Personnel expenses were practically stable in the reporting year at CHF 681.2 million (+3.6 million/+0.5 percent). The 2009 annual report shows an increase of 110 full-time positions compared to the previous year under the heading "Headcount". However, this increase is mainly of an accounting nature and cost-neutral, as the internship positions were included for the first time (around 40 full-time positions); in addition, some outsourced production services were again provided in-house in the business units (around 40 full-time positions), and the planned transfer of teletext positions from the subsidiary Swiss TXT to the business units (around 30 full-time positions) was completed in mid-2009.

Decision of the Federal Council decisive
In the period 2011-2014, SRG will lack an average of 54 million per year to fulfill its performance mandate. Without the above-mentioned cost-cutting measures that have already been introduced, the average funding shortfall would be more than twice as high. This is the conclusion of the report "Financial requirements 2011-2014", which SRG submitted to the Federal Office of Communications (Bakom) for the attention of the Federal Council on November 27, 2009. How SRG is to balance its finances now depends on the decision of the Federal Council. A decision on a program reduction will only be made once the Federal Council's decisions have been finalized, according to the statement. As far as the elimination of entire channels is concerned, the corresponding resolutions of the Assembly of Delegates must be submitted to the Federal Council for approval.
The 2009 Annual Report will be submitted to the Delegates' Meeting on May 18, 2010 for approval. It will be available online from May 20, 2010 and in print from mid-June.