Segment information

As of 1 January 2020, a decentralised organisational structure was formed under the umbrella of TX Group comprising four largely self-contained companies. All specialised platforms and marketplaces are integrated in the TX Markets segment, while advertising marketing is incorporated in the Goldbach segment. The 20 Minuten segment includes free media in Switzerland and abroad, while paid media will be run under the name Tamedia in future. The Group’s ventures and services are grouped within the Group & Ventures segment. Segment reporting reflects the corporate structure and is in line with internal reporting. Information on assets, liabilities, interest, investments and income taxes is not disclosed as this is not reported internally by segment either.

Revenues in the consolidated income statement correspond to revenues (after eliminations and IAS 19 reconciliations) in segment reporting. The individual revenue categories are generated as follows in the individual segments: over three-quarters of the advertising revenue achieved in the Tamedia and 20 Minuten segments is from the sale of commercial advertising spaces. The revenues from classifieds & services include the sale of digital classified advertising, which is particularly associated with the TX Markets segment (including JobCloud, Homegate and Ricardo) and the Group & Ventures segment (including Zattoo and Doodle). The marketing and intermediation revenue is realised in the Goldbach segment and print revenue almost exclusively in the Tamedia segment as this is where the printing centres are allocated. Over half of other revenue is generated by the Tamedia segment, while most of the other income in the reporting year relates to the Group & Ventures segment due to the income recorded from the sale of Renovero.

Until the end of 2019, buildings and machinery associated with the three printing centres were part of the Tamedia segment, which used to bear the operating expenses as well as depreciation and amortisation up to that point in time. As part of the restructuring process, the buildings and machinery associated with the three printing centres were sold to TX Group AG as of 1 January 2020 and have been part of the Group & Ventures segment since then. This segment has borne the operating costs and depreciation and amortisation for these facilities since that point in time. Also since then, Group & Ventures has been charging rent to Tamedia’s printing centres for their use.

As regards 20 Minuten Advertising AG and Goldbach Publishing AG, the two companies founded as of the end of 2019, 51.0 per cent is owned by Goldbach and 49.0 per cent by 20 Minuten and Tamedia respectively. The two companies are therefore deemed to be fully consolidated within the Goldbach segment. The 20 Minuten and Tamedia segments show the share of net income (loss) of associated companies attributable to them. These shares of net income (loss) are eliminated in the reconciliation to the group view. No single customer accounted for more than 10 per cent of consolidated revenues.

All material revenues are earned in Switzerland and all material non-current asset items are located in Switzerland. The revenues achieved in foreign currencies by foreign Group companies and their non-current assets in foreign currencies are not deemed to be material as regards the consolidated income statement and the consolidated balance sheet (for more information on Group companies abroad, see Note 37 “Investments in other companies”).

Further information on the individual segments can be found in the operational reporting section on pages 20 to 29.

The segment information from the previous year has been adapted to the new segment structure (see table above). In the previous year, disclosure for the segments was still in accordance with the old structure:

Restatement of the segment information takes account of the effects described below.

Transactions that have taken place within a segment prior to restatement and were therefore eliminated within the segment accordingly will now take place with another segment in some cases. They are now therefore shown as revenues and expenses vis-à-vis other segments (e.g. marketing and brokerage revenues between Goldbach and 20 Minuten).

Now, intermediation revenues are shown as third-party revenues in the segments for which the revenues were brokered, and the intermediation commission for these advertising revenues is shown as intersegment revenues in the Goldbach segment. Until now, revenues brokered for other segments have been shown under the commercialisation business as third-party revenues (and the share of revenues passed on to the segments as a reduction in revenues). As regards the segments for which the revenues were brokered, these were shown as intersegment revenues.

Prior to restatement, any central services that cannot be allocated directly were passed on to the segments with the help of an allocation key. Now, these costs accrue to Group & Ventures and are charged to the segments. The employees of core functions are now listed under Group & Ventures. Here too, an allocation key was used to allocate things to the segments prior to restatement.