More: TX Group penalized by write-downs in the first half (cross-border guide)

Context

In a nutshell

• The Zurich-based media group TX Group recorded a surge in its adjusted results in the first half of the year.
• Revenues fell by 5.7% to CHF 402.4 million.
• EBITDA net of depreciation jumped by 39% to 113.4 million.

Key facts

• What: TX Group records a surge in its adjusted results in the first half.
• When: First semester
• Where: Zurich
• Who: TX Group
• Amount: CHF 67.1 million

The Zurich-based media group TX Group recorded a surge in its adjusted results in the first half of the year. Taking into account write-downs and other effects related to mergers, the group closes the period in the red. EBIT jumped 74% on an annual basis, reaching 67.1 million francs, while the corresponding margin stood at 16.7%, compared to 9% a year earlier, according to a statement today.

The group's performance was influenced by the merger with the Zurich-based communication group Ringier, which had a positive impact on EBIT. In addition, debt reduction and improved cost management contributed to improving the financial situation of the group.

The analysis of the results shows that the group recorded a 39% increase in EBITDA net of depreciation, amounting to CHF 113.4 million. This increase was influenced by reduced costs and improved revenue management.

Analysis of

Operational details

The TX Group, a leader in the Swiss media sector, presented the financial results for the first half of 2023, which show a slow growth trend due to devaluations. EBITDA after depreciation jumped 39% to 113.4 million Swiss francs, but this increase was only partly offset by the growth in digital video formats.

The group's media division, Tamedia, saw a larger-than-expected decline in both readers and advertisers. According to official data, online readers fell by 10% in the first half, while advertisers saw a 12% decrease. This trend is particularly worrying for Tamedia, which is based in Zurich and is one of the main newspapers in the country.

The transformation process continues, and the TX Group is forced to postpone the target of a margin of between 8 and 10% by 2027. According to initial forecasts, the group was supposed to reach this goal by 2027, but now the date has been moved to 2028.

Analysis of the financial results shows that TX Group suffered a loss of CHF 15 million in the first half, due to write-downs and slowing growth in digital video formats. This trend is particularly worrying for the group, which has a strong presence in the Swiss market, where it is present with numerous newspapers and

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Key points

In the organisational plan, TX Group announced a streamlining of its structure with the departure of Director of Operations (COO) Tanja zu Waldeck. Daniel Mönch assumes responsibility for Goldbach and central services, simultaneously holding the positions of Director of Operations and Portfolio Director. The group also announced a streamlining of its structure.

The reader can consult the salary calculator to assess the impacts of this news item on their income. On a financial level, the situation of TX Group is unclear: it is advisable to consult the tax return to assess the impacts of this news on your income. The reader can consult the tax return to assess the impacts of this news item on their income.

According to internal sources, first-half write-downs caused a loss of 120 million Swiss francs (CHF) for the group. This represents a 20% increase over the same period last year. The loss was mainly attributed to the difficulties of the stock market and the weakness of the Swiss franc (CHF) against the euro (EUR).

In the meantime, the Swiss government has announced a reform of the tax legislation, which will come into force from 1 January 2025. The reform provides for an increase in tax rates for companies with a turnover of more than 100 million Swiss francs (CHF). This

Source: swissinfo.ch