Edipresse remains in Lamunière hands
The most international of the Swiss media groups wants to continue to grow primarily abroad
The most international of the Swiss media groups wants to continue to grow, especially abroadBy Christophe Büchi At this year's annual media conference of Edipresse, publisher Pierre Lamunière was very critical of the Swiss Federal Competition Commission. Lamunière also reiterated that his family has no intention of relinquishing control of the listed group.
Not the (good) business figures for 1999, but a broadside fired by Lamunière across the bow of the Swiss Federal Competition Commission (Comco) was the strong moment of this year's balance sheet meeting at Edipresse (see also p. 5).
At a time when international media giants such as Time Warner were embarking on mega-mergers, the Weko was not above employing dozens of civil servants to prevent a structural shake-up in the Swiss media landscape, raged Edipresse boss Pierre Lamunière. And: While the TA-Media Group is forging alliances with Swisscom that could completely turn the Helvetic media scene upside down, Edipresse is being harassed by the red tape when it wants to take over three Geneva neighborhood newspapers. At the same time, our country should have four to five large media groups that are strong enough to hold their own on the international market.
In other respects, of course, there was little talk of Switzerland and a lot of talk of foreign countries at Edipresse headquarters.
Edipresse is present in seven countries
Once again, the Lausanne media conference turned into an exciting seminar on European media. For although the Edipresse Group still generates 59 percent of its consolidated sales in Switzerland, it is now the least Swiss of the major Swiss media groups - now present in seven countries with 79 publications. And in the coming months, too
the commitment abroad - in Spain, Portugal, Poland, France, Greece and Romania - will be steadily strengthened.
Particular attention is being paid to France, where Edipresse has so far had a rather difficult time. As reported by WerbeWoche, the Saturday newspaper Tribune-Montblanc is expected to cover the French border area around Geneva from September.
Spain remains market number two
But this is just one front line among many. As announced at the Bilanz-MK, three more launches are planned in Spain alone, where Edipresse already publishes twenty titles. On average, Edipresse plans to launch a new product somewhere every six weeks in the future, Lamunière assures.
Edipresse intends to finance most of its growth itself. It is in good health, especially as it benefited strongly from the good economic situation in the media and advertising sector in the last financial year. As a result, the Group increased its sales by 11.7 percent to 677.7 million Swiss francs. The pre-tax result was 69.9 million Swiss francs (+35.7 percent). However, this includes the proceeds from the sale of the Métrociné cinema chain in western Switzerland and a commercial building in Lisbon.
Delight at the IPO of the TA Media Group
However, as Lamunière explains, he does not rule out the possibility that a possible major acquisition could be financed via the stock exchange. This would be easy, because Edipresse has been listed on the stock exchange for decades.
Commenting on the announced IPO of the TA-Media Group, Lamunière says: "I am pleased that our German-speaking Swiss colleagues are also going public, 30 years late. So we are no longer the only ones who have to disclose our figures according to international standards." It is also possible that the subholding EOL (Edipresse Online), in which the Group's Internet activities will be combined in the future, will go public on occasion, as Lamunière explained in response to a question from WerbeWoche.
For Lamunière, on the other hand, the single share is not an issue. At present, Edipresse's registered shareholders control just under 30 percent of the capital, a good two-thirds of the votes. The Lamunière family thus holds the reins firmly in its hands.
This is to remain so, says the boss: "Our shareholders approved the new structure practically unanimously two years ago. Because we have to protect ourselves against a hostile takeover, that's also a moral duty."
Edipresse in figures(monetary values in CHF million)
1999 1998 %
Group sales 677.7 607.0 11.7
Cash flow 76.3 67.4 13.2
Net income 36.8 25.4 45.4
Not the (good) business figures for 1999, but a broadside fired by Lamunière across the bow of the Swiss Federal Competition Commission (Comco) was the strong moment of this year's balance sheet meeting at Edipresse (see also p. 5).
At a time when international media giants such as Time Warner were embarking on mega-mergers, the Weko was not above employing dozens of civil servants to prevent a structural shake-up in the Swiss media landscape, raged Edipresse boss Pierre Lamunière. And: While the TA-Media Group is forging alliances with Swisscom that could completely turn the Helvetic media scene upside down, Edipresse is being harassed by the red tape when it wants to take over three Geneva neighborhood newspapers. At the same time, our country should have four to five large media groups that are strong enough to hold their own on the international market.
In other respects, of course, there was little talk of Switzerland and a lot of talk of foreign countries at Edipresse headquarters.
Edipresse is present in seven countries
Once again, the Lausanne media conference turned into an exciting seminar on European media. For although the Edipresse Group still generates 59 percent of its consolidated sales in Switzerland, it is now the least Swiss of the major Swiss media groups - now present in seven countries with 79 publications. And in the coming months, too
the commitment abroad - in Spain, Portugal, Poland, France, Greece and Romania - will be steadily strengthened.
Particular attention is being paid to France, where Edipresse has so far had a rather difficult time. As reported by WerbeWoche, the Saturday newspaper Tribune-Montblanc is expected to cover the French border area around Geneva from September.
Spain remains market number two
But this is just one front line among many. As announced at the Bilanz-MK, three more launches are planned in Spain alone, where Edipresse already publishes twenty titles. On average, Edipresse plans to launch a new product somewhere every six weeks in the future, Lamunière assures.
Edipresse intends to finance most of its growth itself. It is in good health, especially as it benefited strongly from the good economic situation in the media and advertising sector in the last financial year. As a result, the Group increased its sales by 11.7 percent to 677.7 million Swiss francs. The pre-tax result was 69.9 million Swiss francs (+35.7 percent). However, this includes the proceeds from the sale of the Métrociné cinema chain in western Switzerland and a commercial building in Lisbon.
Delight at the IPO of the TA Media Group
However, as Lamunière explains, he does not rule out the possibility that a possible major acquisition could be financed via the stock exchange. This would be easy, because Edipresse has been listed on the stock exchange for decades.
Commenting on the announced IPO of the TA-Media Group, Lamunière says: "I am pleased that our German-speaking Swiss colleagues are also going public, 30 years late. So we are no longer the only ones who have to disclose our figures according to international standards." It is also possible that the subholding EOL (Edipresse Online), in which the Group's Internet activities will be combined in the future, will go public on occasion, as Lamunière explained in response to a question from WerbeWoche.
For Lamunière, on the other hand, the single share is not an issue. At present, Edipresse's registered shareholders control just under 30 percent of the capital, a good two-thirds of the votes. The Lamunière family thus holds the reins firmly in its hands.
This is to remain so, says the boss: "Our shareholders approved the new structure practically unanimously two years ago. Because we have to protect ourselves against a hostile takeover, that's also a moral duty."
Edipresse in figures(monetary values in CHF million)
1999 1998 %
Group sales 677.7 607.0 11.7
Cash flow 76.3 67.4 13.2
Net income 36.8 25.4 45.4
