Normalised consolidated income statement
| 2022 | 2021 | |||||||||||||
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| in CHF mn | Comment | Income statement |
One-off effects |
Adjusted net income |
Income statement |
One-off effects |
Adjusted net income |
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| Advertising revenue | 252.2 | – | 252.2 | 260.6 | – | 260.6 | ||||||||
| Classifieds & services revenue | 246.8 | – | 246.8 | 285.4 | – | 285.4 | ||||||||
| Commercialization revenue | 83.9 | – | 83.9 | 79.9 | – | 79.9 | ||||||||
| Subscriptions & single sales revenue | 231.0 | – | 231.0 | 239.1 | – | 239.1 | ||||||||
| Printing & logistics revenue | 81.0 | – | 81.0 | 67.3 | – | 67.3 | ||||||||
| Other operating revenue | 27.1 | – | 27.1 | 23.4 | – | 23.4 | ||||||||
| Other income | 1 | 3.1 | (2.5) | 0.7 | 1.6 | (0.8) | 0.9 | |||||||
| Revenues | 925.2 | (2.5) | 922.8 | 957.4 | (0.8) | 956.6 | ||||||||
| Cost of material and services | 2 | (165.4) | – | (165.4) | (143.8) | (0.3) | (144.1) | |||||||
| Personnel expense | (409.2) | – | (409.2) | (447.8) | – | (447.8) | ||||||||
| Other operating expense | 3 | (209.7) | 4.3 | (205.5) | (202.5) | (3.1) | (205.6) | |||||||
| Share of net result of associates / joint ventures | 4 | (17.1) | 42.4 | 25.3 | 14.3 | 4.6 | 18.9 | |||||||
| Operating income / (loss) before depreciation and amortisation (EBITDA) | 123.8 | 44.2 | 168.0 | 177.7 | 0.4 | 178.1 | ||||||||
| Depreciation and amortisation | (67.8) | – | (67.8) | (49.7) | – | (49.7) | ||||||||
| Operating income / (loss) before effects of business combinations (EBIT b. PPA) | 56.0 | 44.2 | 100.1 | 127.9 | 0.4 | 128.3 | ||||||||
| Depreciation and amortisation resulting from business combinations | 5 | (50.1) | 50.1 | – | (64.7) | 64.7 | – | |||||||
| Operating income / (loss) (EBIT) | 5.9 | 94.3 | 100.1 | 63.3 | 65.1 | 128.3 | ||||||||
| Financial income | 6 | 25.3 | (2.2) | 23.1 | 798.7 | (790.3) | 8.4 | |||||||
| Financial expense | 7 | (23.0) | 0.9 | (22.1) | (9.1) | – | (9.1) | |||||||
| Income / (loss) before taxes (EBT) | 8.2 | 92.9 | 101.1 | 852.8 | (725.2) | 127.6 | ||||||||
| Income taxes | 8 | (12.8) | (8.8) | (21.7) | (20.1) | (5.5) | (25.6) | |||||||
| Net income / (loss) (EAT) | (4.6) | 84.1 | 79.5 | 832.7 | (730.7) | 102.0 | ||||||||
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1 The normalisation 2022 concerns all incoming payments from the 2016 and earlier accounting periods that could not be allocated to an invoice and could not be repaid. These were released to income (Tamedia and Group & Ventures segments). Normalisation 2021 relates to hardship payments for NEO ADVERTISING SA (Goldbach segment).
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2 The 2021 normalisation concerns the extraordinary federal contributions towards financing the basic services of the national news agency Keystone-SDA to support the media (Tamedia segment).
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3 The normalisation in 2022 relates to the full repayment of CHF 3.1 million of the extraordinary support received from the Swiss Confederation in 2021 for the reduced delivery of subscribed daily and weekly newspapers (Press Promotion, Tamedia segment). In addition, CHF 1.1 million was normalised in 2022 for the value adjustment and sale of old receivables (Group & Ventures segments).
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4 The 2022 normalisation concerns the share of depreciation, amortisation and impairment resulting from business combinations of the associate SMG Swiss Marketplace Group AG of CHF 33.7 million (TX Markets segment, after deferred tax) and impairment of associates (Ultimate Media B&M GmbH/AHVV Verlags GmbH [20 Minuten segment] in the amount of CHF 7.8 million and LZ Linth Zeitung AG and KEYSTONE-SDA-ATS [Tamedia segment] in the amounts of CHF 0.7 million and CHF 0.1 million respectively). The 2021 normalisation concerns the impairment of goodwill for the associate BTMX P/S of CHF 1.7 million (20 Minuten segment) and the share of depreciation and amortisation resulting from business combinations of the associate SMG Swiss Marketplace Group AG of CHF 2.9 million (TX Markets segment, after deferred tax).
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5 Depreciation and amortisation from business combinations are normalised in full. Allocation to the segments is carried out according to "Segment information".
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6 Normalisation 2022 relates to the gain on disposal from the sale of 0.09% of the shares in SMG Swiss Marketplace Group AG to General Atlantic SC B.V. (Group & Ventures segment). Normalisation 2021 relates to the compensation from legal proceedings in connection with Trendsales ApS in the amount of CHF 11.8 million, in which TX Group AG acted as plaintiff (Group & Ventures segment) and the disposal profit from the integration of the shares of TX Markets AG into the joint venture SMG Swiss Marketplace Group AG in the amount of CHF 778.5 million (TX Markets segment).
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7 The 2022 normalisation concerns the dilutive effect of two increases in capital and the associated reductions in shareholdings due to employee shareholding programmes at SMG Swiss Marketplace Group AG of CHF 1.2 million (Group & Ventures segment) and the disposal profit from the sale of Goldbach companies that were no longer operational of CHF 0.3 million (Goldbach segment).
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8 The tax effects on the special effects are normalised accordingly.
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