TX Group increases sales and profit

The reported sales of the company, which is mainly responsible for its media brands 20 minutes or Tages-Anzeiger as well as for the marketplaces Riccardo or Homegate, increased by 3.3 percent to 460.5 million Swiss francs in the first six months of 2023, as the TX Group wrote on Tuesday in its media release on the half-year financial statements.

The growth stems not least from the acquired outdoor advertising company Clear Channel Switzerland. This has been consolidated at Goldbach since April. In organic terms, however, sales declined by 2.4 percent.

Compared to the previous year, the Group operated significantly more profitably in the first half of 2023. Operating profit at EBIT level improved from CHF 3.7 million to CHF 21.4 million.

The operating result before effects of business combinations, which is the focus of the TX management, also increased by a significant 64 percent to CHF 47.1 million. This was helped by the significantly better performance of the Swiss Marketplace Group as well as the somewhat increased margins at Tamedia, the statement continued.

Finally, profit came in at 13.7 million, compared with 1 million in the previous year.

Vague outlook

As usual, TX Group does not provide a concrete outlook for the full year. "With the necessary adjustments of the cost base to the realities in the traditional media business, all activities of the Group can again contribute to an improved overall result in the foreseeable future and continue the positive trend in the first half of 2023," Pietro Supino, President and Publisher of TX Group, is quoted in the release.

In this context, TX management reiterates that the savings target of 20 million set at Group level will be met by the end of 2023. (SDA)