CH Media closes first full financial year with profit
The media company CH Media closed its first full financial year with a profit of CHF 19 million on sales of CHF 448 million. The year was dominated by integration.
The "Columbus" program was aimed in particular at reducing the cost base of the merged activities of AZ Medien and NZZ regional media, as the company announced on Thursday. The individual business areas had developed differently in the difficult market environment.
The publishing division, for example, achieved a "satisfactory" result thanks to synergies, writes the Aargauer Verlag. In the area of electronic media, the Group "tended" to grow and gain market share. The growth was achieved both organically and through the acquisition of the 3-Plus Group in October 2019.
"I am satisfied that we were able to achieve our financial targets in the first full financial year - a year of growing together and upheaval - despite many uncertainties", Group CEO Axel Wüstmann is quoted as saying. (SDA)
