AZ Medien with solid financial statements and dividend waiver
The Aargau-based AZ Medien Group posted a solid result in 2019. In the first fully consolidated year together with the NZZ regional media, the bottom line was a profit of CHF 5.6 million. However, shareholders are left empty-handed.
In 2018, AZ Medien had still posted a loss of CHF 2.2 million. In the 2019 financial year, the media company generated consolidated sales of CHF 246 million, two million more than in 2018. The operating result amounted to CHF 6.5 million.
Corona crisis looms
In the sign of the Corona crisis, the current year is proving difficult, the media company announced on Wednesday. AZ Medien and the joint venture CH Media with the NZZ regional media have introduced short-time work. In view of the situation, the Board of Directors proposes to waive a dividend payment.
Peter Wanner, publisher and Chairman of the Board of AZ Medien, said in the communiqué that CH Media had made a good start in a challenging environment. The online portal Watson had exceeded expectations.
Commenting on the Corona crisis, Wanner said advertising revenues had dropped significantly. CH Media is expecting a drop in sales in the double-digit million range by the middle of the year.
First full CH Media fiscal year solidly concluded
2019 was the first full financial year of CH Media, the joint venture between AZ Medien and the NZZ regional media. AZ Medien holds a 50 percent stake in it. AZ Medien also owns the licensed TV stations Tele M1 and TeleBärn and the online portal Watson.
In fall 2019, the Group acquired the TV stations of the 3-Plus Group (3+, 4+, 5+ and 6+). The parties agreed not to disclose the price. With the acquisition, the company became the largest private TV operator in Switzerland. AZ Medien also includes a publishing house for non-fiction books. (SDA)
