Revenues

Revenues reduced by CHF 143.8 million or 13.3 per cent, compared with the previous year, from CHF 1079.5 million to CHF 935.8 million. The effect of the change in the group of consolidated companies is negligible as the decline in revenues associated with the sales of Starticket AG at the end of 2019 and Olmero AG as well as Trendsales ApS in 2020 was somewhat offset by the access to revenues associated with the purchase of the Zattoo Group in the first half of 2019.

Advertising revenue

Advertising revenue accounted for 29.2 per cent of total revenues (previous year 33.0 per cent). The decline in advertising revenues and the cancellations as a result of the coronavirus crisis saw revenues fall by a significant CHF 83.0 million or 23.3 per cent to CHF 273.5 million in 2020. Tamedia’s daily and Sunday titles and the free media offered by 20 Minuten have been particularly badly affected by the reduction in revenues. Revenues from the sale of out-of-home advertising spaces also declined significantly on account of the difficult economic conditions.

Revenues from classifieds & services

The sale of digital classified advertising declined due to the coronavirus crisis, with the revenues from classifieds & services decreasing from CHF 271.6 million to CHF 252.2 million in the reporting year. Revenues from classifieds & services account for 27.0 per cent of total revenues (previous year: 25.2 per cent).

Revenues from commercialisation and intermediation activities

The tense situation on the advertising market had a negative impact on revenues from commercialisation and intermediation activities, which fell from CHF 87.1 million to CHF 72.4 million.

Revenues from subscriptions and individual sales

Revenues from subscriptions and individual sales of paid media only decreased slightly by 1.7 per cent from CHF 246.1 million to CHF 241.8 million. Revenues from subscriptions and individual sales contributed 25.8 per cent of the total revenues for TX Group. While revenues from sales of printed newspapers and magazines were down slightly on the previous year, there was an increase in sales of digital subscriptions.

Print revenue

Print revenue for 2020 is CHF 59.9 million, which represents a decline of CHF 16.8 million or 21.9 per cent. This decline can be attributed to the much lower volumes of printed products due to the coronavirus crisis (particularly during lockdown) and the lower price of paper compared with the previous year. In contrast, no significant changes in print titles had to be recorded.

Other operating revenue

Other operating revenue fell by CHF 6.9 per cent to CHF 34.1 million. The material items of other operating revenue can be seen in the table above.

Transport revenues were relatively unchanged in the reporting year at CHF 12.8 million. No significant change was recorded either, compared with the previous period, for income from buildings used for operational purposes at CHF 3.4 million, sales of out-of-home technology and digital solutions at CHF 1.5 million or revenues from marketing services, including sales and services, or marketing concepts. The various items incorporate various sources of revenue such as income from the staff restaurant, income from management fees and services involving associates or third parties, merchandise revenues, sale of petrol, handling fees, dispatch costs and other items which would not be material on their own.

Other income

Other income includes the proceeds from the sale of Renovero in the amount of CHF 1.1 million, which was sold by Olmero AG in April 2020 (the previous year included the profit from the sale of Annabelle).