TX Group returned to black numbers last year. With rising revenues, the diversified Zurich publisher earned a net profit of 832.7 million francs, compared to a net loss of 94.6 million in 2020.
Thanks to the solid performance, shareholders are offered a dividend of 7.40 francs per share, when they had to do without for the 2020 financial year.
The jump in net profit reflects, in addition to a solid operational performance in the context of an economic recovery, the contribution of the shares of the online marketplaces unit TX Markets, with the exception of JobCloud, in the new joint venture SMG Swiss Marketplace Group as well as its registration as a participation associated with the market value, explained Thursday the Zurich group.
The transaction resulted in an accounting profit of 778.5 million francs, recorded as financial income. On the other hand, TX Group did not record any impairment, unlike in 2020.
The group’s turnover increased by 2.3% to 957.4 million francs, with organic growth posting 6%. The increase reflects in particular the upturn in revenues as well as in marketing and intermediation activities.
While the group managed to reduce its costs, operating profit before interest and tax (Ebit) rose to 63.3 million, against an Ebit loss of 70.9 million twelve months earlier. Adjusted for exceptional items, Ebit soared by more than half (56.5%) to 128.3 million francs.
Given the recovery posted last year, the Board of Directors is proposing an ordinary dividend of CHF 3.20 per share for the 2021 financial year. This amount represents approximately one-third of the free cash flow before consolidation effects. companies and after dividends to minority shareholders. Two-thirds must be invested in the development of the group and its companies.
The ordinary payment will be accompanied, as previously indicated, by an extraordinary dividend of 4.20 francs per share resulting from the cash flows in connection with the creation of SMG Swiss Marketplace Group. The paid media unit, Tamedia, will reimburse the Confederation for the aid received in respect of the coronavirus pandemic. The 2022 financial year will thus be burdened with 3.1 million francs.
At the next general meeting on April 8, Pierre Lamunière will retire from the board of directors of TX Group and Tamedia. Elected for the first time in May 2009, he was previously the publisher of Edipresse, whose Swiss media and platforms, notably the daily newspapers Le Matin, 24 Heures and La Tribune de Genève, were taken over by TX Group.
To succeed him, the Board of Directors will propose to elect Pascale Bruderer to the supervisory body of TX Group.
/ ATS