TX Group expects significant drop in sales due to Corona
Media group TX Group expects a negative result for the current first half of 2020: a year-on-year decline in revenues of between around 10 and 15 percent and a negative result at EBIT level are expected, the company announced on Monday evening.
This expectation is based on the March figures now available and currently existing "booking cancellations" as a result of the Corona crisis. Against the background of the unpredictable further course and the gradual relaxations from the "lockdown" outlined by the Federal Council, a continued decline in advertising revenues must be assumed, it said.
In particular, the daily and Sunday titles as well as the commuter media of Tamedia and 20 Minuten were affected. In addition, the results of the digital job and real estate platforms of TX Markets are declining due to the gloomy economic forecasts.
At the same time, it was stated that no conclusive assessment for the first half of the year could be made at the present time due to the uncertainties. (SDA)
