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TX Group Half-Year Report 2023
TX Group Half-Year Report 2023
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Segment information

A decentralised organisational structure comprising four largely self-contained companies exists under the umbrella of 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 are running under the name Tamedia. The Group’s ventures and services are grouped within the Group & Ventures segment. Revenues in the consolidated income statement correspond to revenues (after eliminations and IAS 19 reconciliation) in segment reporting.

All material revenues are earned in Switzerland and all material non-current asset items are located in Switzerland.

in CHF mn TX Markets Goldbach 20 Minuten Tamedia Group &
Ventures		 Eliminations
and
reconciliation
IAS 19		 Total
As of 30 June 2023
Advertising revenue – 46.3 45.3 43.8 5.5 – 140.9
Classifieds & services revenue 70.3 5.1 2.0 16.6 27.2 – 121.1
Commercialization revenue – 34.9 – – – – 34.9
Subscriptions & single sales revenue – – – 113.1 – – 113.1
Printing & logistics revenue – – – 37.3 – – 37.3
Other operating revenue (0.0) 5.2 0.8 1.9 4.6 – 12.5
Other income – 0.0 0.0 0.7 (0.0) – 0.7
Revenue intersegment 0.0 18.2 3.9 9.4 42.1 (73.5) –
Revenues 70.4 109.7 52.0 222.7 79.4 (73.5) 460.5
Operating expense 1 (31.1) (88.0) (49.6) (216.7) (76.1) 74.3 (387.3)
Share of net result of associates / joint ventures 13.4 (0.0) 0.3 0.5 (0.6) – 13.5
Operating income / (loss) before depreciation and amortisation (EBITDA) 52.6 21.6 2.6 6.4 2.7 0.7 86.7
Margin 2 74.8% 19.7% 5.1% 2.9% 3.4% – 18.8%
Depreciation and amortisation (4.1) (22.4) (0.5) (0.4) (12.2) – (39.6)
Operating income / (loss) before effects of business combinations (EBIT b. PPA) 48.6 (0.8) 2.2 6.0 (9.5) 0.7 47.1
Margin 2 69.0% –0.7% 4.2% 2.7% –12.0% – 10.2%
Depreciation and amortisation resulting from business combinations (5.2) (8.5) (1.1) (9.1) (1.8) – (25.7)
Operating income / (loss) (EBIT) 43.4 (9.3) 1.1 (3.1) (11.4) 0.7 21.5
Margin 2 61.7% –8.5% 2.1% –1.4% –14.3% – 4.7%
Number of employees (FTE) 3 284 799 318 1 280 804 – 3 485
in CHF mn TX Markets Goldbach 20 Minuten Tamedia Group &
Ventures		 Eliminations
and
reconciliation
IAS 19		 Total
As of 30 June 2022
Advertising revenue – 19.4 46.6 41.1 6.1 – 113.2
Classifieds & services revenue 70.7 5.1 2.1 18.2 27.8 – 123.8
Commercialization revenue – 37.5 – – – – 37.5
Subscriptions & single sales revenue – – – 116.0 – – 116.0
Printing & logistics revenue – – – 39.6 – – 39.6
Other operating revenue 0.1 3.1 0.0 2.1 6.6 – 12.0
Other income – 0.0 – 2.0 1.5 – 3.5
Revenue intersegment 0.4 18.5 1.9 8.7 50.0 (79.5) –
Revenues 71.2 83.6 50.6 227.7 92.2 (79.5) 445.7
Operating expenses 1 (29.5) (68.7) (49.5) (229.3) (89.1) 75.5 (390.6)
Share of net result of associates / joint ventures 5.0 – 1.8 0.9 (1.3) – 6.4
Operating income / (loss) before depreciation and amortisation (EBITDA) 46.8 14.9 2.9 (0.7) 1.7 (4.0) 61.5
Margin 2 65.7% 17.8% 5.8% –0.3% 1.8% – 13.8%
Depreciation and amortisation (3.0) (13.9) (0.5) (0.3) (15.1) – (32.8)
Operating income / (loss) before effects of business combinations (EBIT b. PPA) 43.7 0.9 2.5 (1.0) (13.4) (4.0) 28.7
Margin 2 61.4% 1.1% 4.9% –0.4% –14.5% 0.0% 6.4%
Depreciation and amortisation resulting from business combinations (5.2) (6.9) (1.1) (9.1) (2.8) – (25.1)
Operating income / (loss) (EBIT) 38.5 (6.0) 1.4 (10.1) (16.2) (4.0) 3.7
Margin 2 54.1% –7.2% 2.7% –4.4% –17.6% – 0.8%
Number of employees (FTE) 3 252 661 322 1 295 840 – 3 371
1 The employee benefit expense from IAS 19 is not part of the individual segments and is presented separately together with the eliminations.
2 The margin relates to revenues.
3 Average number of employees, excluding employees in associates / joint ventures.