NZZ makes two million francs more profit
Published: Wednesday, Aug 21st 2024, 12:20
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The media company NZZ achieved an operating result before interest and taxes of CHF 6.8 million in the first half of 2024. This is CHF 2 million more than in the previous year. At CHF 118 million, revenue was slightly lower than in mid-2023.
Total operating income fell by around one percent year-on-year to 118.3 million francs, as the Zurich-based publishing house announced on Wednesday.
The media company did record higher income in the user market - thanks to the acquisition of the financial magazine "The Market", for example. However, this could not compensate for the decline in advertising income. In the print sector, income in the advertising market fell by five percent to CHF 16.4 million, and in the digital sector by four percent to CHF 21.1 million.
Income from partnerships in the event sector - such as with the Zurich Film Festival - was also six percent lower at CHF 8.4 million. The NZZ wrote of an "increasingly difficult market environment" and "intensified competition".
Total operating expenses fell much more sharply than income: in the first half of 2024, they amounted to 111.6 million Swiss francs, around three percent or 2.9 million Swiss francs less than in the same half of the previous year. According to the press release, the reduction in costs was primarily due to efficiency gains.
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