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Letter to Shareholders / Annual Report 2020

March 15, 2021
  • COVID-19 pandemic has massive negative influence on business activities in 2020.

  • Significant decline in consolidated net income.

  • Financial situation sound thanks to comprehensive package of measures.

  • Positive one-time effect with disposal of Meyrin/GE property.

  • Distribution of dividends suspended for the financial year 2020.

  • Recommended dividend distribution of 100% of consolidated net income for the financial years 2021, 2022 and 2023, with a minimum dividend of CHF 11 per share.


In brief (adjusted for one-time effects)

  • Advertising revenues in Switzerland fall by 17.5% to CHF 250.9 million

  • Decline in advertising revenues in Serbia of 24.1% to CHF 11.0 million

  • EBITDA margin: 8.5% (prior-year period: 19.2%)

  • EBIT margin: 4.5% (prior-year period: 16.0%)

  • Consolidated net income of CHF 9.5 million (prior-year period: CHF 41.8 million)

  • Free cash flow of CHF 19.8 million (prior-year period: CHF 41.6 million)
     

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Letter to Shareholders

Financial Report 2020

Annual Report 2020

 

 

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