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Tamedia posts solid net income

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Tamedia posts solid net income

Article ID:

21698

Organic growth for Free Media as well as Marketplaces and Ventures – print advertising down by CHF 35 million

Zurich, 13 March 2018 – Tamedia’s operating revenues fell by 3.0 per cent or CHF 30.6 million in the past financial year to CHF 974.2 million. This was due to the structural decline in publishing, Tamedia’s core business. Print advertising revenue shrank by CHF 35 million year on year. Operating income before depreciation and amortisation (EBITDA) increased by CHF 44.2 million or 22.0 per cent to CHF 245.2 million, notably due to lower actuarial pension costs under IAS 19. The EBITDA margin rose from 20.0 per cent in the previous year to 25.2 per cent, bringing operating income (EBIT) up by 59.3 per cent or CHF 67.3 million to CHF 180.7 million. This increase is partly due to lower depreciation and amortisation resulting from extending the operating life of the printing centres. No impairment on goodwill was recognised in 2017 (previous year CHF 11.0 million). The EBIT margin rose from 11.3 per cent in the previous year to 18.6 per cent. The reported net income for 2017 of CHF 170.2 million represents an increase of 39.1 per cent or CHF 47.9 million on the previous year’s level of CHF 122.3 million. Disregarding the abovementioned one-off effects, net income was up by 21.5 per cent or CHF 24.0 million year on year. Eligible Tamedia employees have a profit participation of CHF 6.5 million in net income (previous year: CHF 5.8 million).

Here you can find the complete press release:
https://www.tamedia.ch/en/group/newsroom/media-releases/tamedia-posts-so...

Author

Michael Spinner-Just's picture

Michael Spinner-Just

Date

2018-03-13 12:25