Letter to Shareholders / Annual Report 2017
- Downturn in revenues caused by reduced advertising inventory.
- Profitability in operating business margins at a high level.
- Financial situation very sound.
- Dividend/special dividend totaling CHF 24 per share.
In brief (adjusted for one-time effects)
- Group-wide sales revenues fell by 4.7% to CHF 300.7 million.
_ Reduced advertising inventory caused sales revenues in Switzerland to fall by 5.1%
_ Positive market developments in Serbia resulted in a 5.9% rise in sales revenues
- Operative margins reached a high level:
_ EBITDA margin: 24.5% (previous year 24.8%)
_ EBIT margin: 20.1% (previous year 20.9%)
- Slight fall of 3.5% in net income to CHF 50.7 million.
- Free cash flow of CHF 37.6 million (previous year CHF 33.2 million).