NZZ with sales growth and higher operating result
Published: Tuesday, Mar 12th 2024, 16:30
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The NZZ increased its turnover by two percent to 250.9 million francs in 2023. At CHF 16.8 million, the operating result in the core business of publishing was at the previous year's level. The number of paying subscribers rose by one percent to 211,100.
This was primarily due to an increase in digital subscriptions and represents a new high, as the company announced on Tuesday. The same increase was recorded in the reader market. The company sees this as confirmation of its focus on quality journalism of a liberal nature.
NZZ attributed the growth to investments in the editorial offices in Switzerland and Germany as well as further developments. The NZZ Connect event business closed the financial year with a "very good result", as the statement continued.
Advertising sales grew by twelve percent to CHF 105.9 million. In the printing business, cooperations and a higher frequency of publication bucked the trend and led to a ten percent increase in income.
Revenue from digital advertising rose by 22%. This is explained by the growth of digital advertiser Audienzz, which acquired a German online marketer and an associated digital agency at the beginning of 2023. Audienzz also grew organically in Switzerland. Income from advertising partnerships rose by 10%, primarily due to the expansion of Sistainable Switzerland.
In publishing, the company maintained its result at the previous year's level and thus at its highest level for ten years, despite a decline in the printing business, inflation, the loss of synergies with CH Media and investments.
The result for the company as a whole amounted to CHF 19.8 million. The significant decline of 6.2 million compared to the previous year is mainly due to the slump at CH Media. This reduced the NZZ company result by 11.8 million francs.
The investment result could not fully compensate for this. In March 2023, NZZ reduced its stake in CH Media from 50 to 35 percent. The Board of Directors will propose to the Annual General Meeting the distribution of an ordinary dividend of CHF 200 per share.
©Keystone/SDA
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