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Segment information

in CHF 000   TX Markets   Goldbach   20 Minuten   Tamedia   Group &
Ventures
  Elimina-
tions and
reconcilia-
tions IAS 19
  Total
 
2021                            
Advertising revenue   11 030   26 853   109 316   97 909   15 474     260 582
Revenue from classifieds & services   192 803   232   4 416   34 442   53 551     285 443
Revenue from commercialisation and intermediary activities     79 920           79 920
Revenue from subscriptions and individual sales         239 145       239 145
Revenue from print and logistic operations         67 268       67 268
Other operating revenue   934   10 617   2 220   4 377   5 271     23 418
Other income   3   1 283   79   150   101     1 615
Revenue intersegment   344   55 594   7 793   16 011   110 614   (190 357)  
Revenues   205 114   174 498   123 824   459 301   185 010   (190 357)   957 391
Operating expenses 2   (124 656)   (129 604)   (106 615)   (440 336)   (173 690)   180 852   (794 049)
Share of net income / (loss) of associates / joint ventures   12 113   123   651   3 439   (1 004)   (1 002)   14 321
Operating income / (loss) before depreciation and amortisation (EBITDA)   92 571   45 017   17 860   22 404   10 316   (10 507)   177 662
Margin 3   45.1%   25.8%   14.4%   4.9%   5.6%     18.6%
Depreciation and amortisation   (7 426)   (9 817)   (837)   (750)   (30 906)     (49 737)
Operating income before the effects of business combinations (EBIT b. PPA)   85 145   35 200   17 023   21 655   (20 590)   (10 507)   127 925
Margin 3   41.5%   20.2%   13.7%   4.7%   –11.1%       13.4%
Amortisation resulting from business combinations   (19 716)   (15 928)   (2 182)   (21 233)   (5 598)     (64 657)
Impairment              
Operating income / (loss) (EBIT)   65 429   19 272   14 841   422   (26 188)   (10 507)   63 268
Margin 3   31.9%   11.0%   12.0%   0.1%   –14.2%     6.6%
Number of employees (FTE) 4   508   626   319   1 363   812       3 627
1 The structure of revenues in the consolidated income statement has been adjusted. The previous year’s figures were adjusted accordingly.
2 The employee benefit expense from IAS 19 are not part of the individual segments and are separately presented together with the eliminations.
3 The margin relates to revenues.
4 Average number of employees, excluding employees in associates / joint ventures.
in CHF 000   TX Markets   Goldbach   20 Minuten   Tamedia   Group &
Ventures
  Elimina-
tions and
reconcilia-
tion IAS 19
  Total
 
2020 1                            
Advertising revenue   12 877   24 041   96 859   94 674   13 265     241 716
Revenue from classifieds & services   185 688   246   3 971   36 504   57 650     284 060
Revenue from commercialisation and intermediary activities     72 405     0   2     72 408
Revenue from subscriptions and individual sales         241 807       241 807
Revenue from print and logistic operations     0     70 605   1 944     72 549
Other operating revenue   602   11 220   3 121   4 125   2 365     21 432
Other income   12   17   331   122   1 341     1 824
Revenue intersegment   1 323   46 049   5 561   22 539   123 336   (198 809)  
Revenues   200 503   153 979   109 842   470 375   199 904   (198 809)   935 795
Operating expenses 2   (131 000)   (126 709)   (99 110)   (458 902)   (172 570)   178 319   (809 972)
Share of net income / (loss) of associates / joint ventures   4 646   (63)   1 529   (759)   (718)   162   4 796
Operating income / (loss) before depreciation and amortisation (EBITDA)   74 148   27 207   12 262   10 714   26 616   (20 328)   130 619
Margin 3   37.0%   17.7%   11.2%   2.3%   13.3%     14.0%
Depreciation and amortisation   (6 642)   (9 286)   (192)   (1 572)   (29 605)     (47 298)
Operating income before effects of business combinations (EBIT b. PPA)   67 506   17 921   12 070   9 142   (2 990)   (20 328)   83 322
Margin 3   33.7%   11.6%   11.0%   1.9%   –1.5%       8.9%
Amortisation resulting from business combinations   (21 641)   (17 537)   (2 214)   (21 184)   (6 605)     (69 181)
Impairment     0     (85 000)   0     (85 000)
Operating income / (loss) (EBIT)   45 865   384   9 856   (97 041)   (9 595)   (20 328)   (70 859)
Margin 3   22.9%   0.2%   9.0%   –20.6%   –4.8%     –7.6%
Number of employees (FTE) 4   584   615   251   1 482   700       3 632
1 The breakdown of revenues in the consolidated income statement was adjusted. The previous year’s figures have been adjusted accordingly.
2 According to IAS 19, pension costs are not part of the individual segments and are shown separately together with the eliminations.
3 The margin relates to revenue.
4 Average number of employees, excluding employees in associates / joint ventures.

A decentralised organisational structure comprising four largely self-contained companies exists under the umbrella of the TX Group. All investments in 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 led under the name Tamedia into the 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.

As regards 20 Minuten Advertising AG and Goldbach Publishing AG, 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 associates attributable to them. These shares of net income (loss) are eliminated when the picture is presented from a Group perspective. 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 38 “Investments in other companies”).

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