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TX Group Annual Report 2020
TX Group Annual Report 2020
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Key financial information from reporting year 2020

  • Change of name from Tamedia AG to TX Group AG as well as other changes of company names (Note 37 “Investments in other companies”).

  • Formation of a decentralised organisational structure with four largely self-contained companies (Note 2 “Segment information”).

  • Heavy losses in the advertising market led to impairment on goodwill in the Tamedia segment in the amount of CHF 85.0 million (Note 22 “Goodwill and intangible assets with an indefinite useful life”).

  • The brands in the Tamedia segment are now being amortised with effect from 1 January 2020, which increased depreciation and amortisation by around CHF 11.1 million in the reporting year (Note 9 “Depreciation and amortisation”).

  • Financial loss from the sale of Olmero AG and Trendsales ApS in the amount of CHF 18.7 million (Note 1 “Changes to the group of consolidated companies” and Note 10 “Financial result”).