TX Group loses revenue and profit in the first half of the year

In the first six months of the year, the Group, which is known for the media brands "20 Minuten" and "Tages-Anzeiger" as well as the marketplaces Ricardo and Homegate and the jobs platform Jobs, saw its revenue fall by 7.5 percent to CHF 426.6 million. All segments reported declining sales figures. The biggest drop was at 20 Minuten, which fell by a good 21 percent to 38.8 million.

Operating profit at EBIT level fell by a good 70 percent to CHF 7.0 million, as TX reported in a press release on Tuesday. The margin is therefore 1.6 percent, compared to 5.1 percent in the previous year. In addition to the decline in sales, one-off effects also had a negative impact on the result: A social plan provision of 5.3 million was made at 20 Minuten and a provision of 4.8 million was recognized at Goldbach Neo for a loss-making marketing contract.

The adjusted operating result emphasized by the TX managers fell somewhat less sharply - by 31.9 percent to 38.5 million. Both 20 Minuten and the Group & Ventures division achieved a negative adjusted operating result.

The bottom line was a profit of 4.2 million after 24.5 million. A significantly lower financial result also had a negative impact here.

"The first half of the year was below our expectations," said publisher and Chairman of the Board of Directors Pietro Supino. The structural challenges in the media business have intensified further in a difficult market environment.

Work for SMG IPO on schedule

The online marketplaces combined in the Swiss Marketplace Group (SMG) continue to perform very well. The strong sales growth has continued and margins have improved further. Preparations for SMG's planned IPO are proceeding according to plan. The aim remains to optimally prepare the company for the IPO and thus enable long-term growth and strategic flexibility, writes TX Group.

JobCloud, the second major holding in the TX Markets segment, is feeling the effects of economic uncertainty, which is having a negative impact on the job market.

Share buyback program over 3 years

The TX Group intends to start buying back its own shares in the next few weeks. Over the next three years, own shares amounting to up to a mid-single-digit percentage of the outstanding share capital are to be bought back. The aim is to make efficient use of capital and return funds to shareholders.

As usual, the TX management is not providing a specific outlook for the year as a whole.