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Tamedia profits rocket after takeover

Profits at Switzerland’s second biggest media group Tamedia have increased by more than 60 per cent to reach SFr178.8 million ($195.5 million).

Revenue at the Zurich-based group rose by nearly a half to SFr1.1 billion.

Tamedia on Wednesday said that its 2011 figures were boosted by the integration of those of Lausanne’s Edipresse group, whose sales alone were worth SFr384.4 million.

Earnings before interest and tax grew 48.9 per cent to SFr168.8 million.

Digital media, boosted by advertising moving from traditional media, saw sales up more than 60 per cent to SFr132.2 million. Tamedia invested more than SFr10 million in its digital platforms last year, and increased the number of employees working in this sector 72 per cent.  

Its press sector however saw advertising revenue and readership stagnate at the regional level, and earnings only increased because of the integration of the Edipresse holdings and the French and Italian versions of “20 minutes”.

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SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR