Tamedia with profit decline
At the media group Tamedia, first-half profits plummeted by more than a fifth compared with the previous year—due in part to a one-time factor. On the bottom line, Tamedia posted a profit of 55.8 million Swiss francs.
The media company's turnover fell by five percent to CHF 504 million, as was reported in a press release issued on Thursday morning. Tamedia explained the decline in earnings with a continued fall in print advertising revenues, although the sale of an investment in the previous year also contributed to the result at that time. For the first time, Tamedia generated more than half of its earnings at EBITDA level (earnings before interest, taxes, depreciation and amortization) with its digital offering, the statement continued. The investments in digital business models and digital journalistic offerings are paying off, according to Group CEO Christoph Tonini. (SDA)
