TX Group: Significant decline in revenue and result due to Corona crisis
Zurich, 20 April 2020 – Based on the March figures now available and current cancellations of advertising reservations due to the corona crisis, TX Group Ltd expects a year-on-year decline in revenue of between approximately 10 and 15 percent and a negative result at EBIT level for the first half of 2020. Due to the unforeseeable further course of the Corona crisis and the gradual release from the lockdown outlined by the Swiss Federal Council, a continued decline in advertising revenues must be assumed. The daily and Sunday publications as well as the commuter media of the companies Tamedia and 20 Minuten are particularly affected. In addition, the results of TX Markets' digital job and real estate platforms are declining due to the weakened economic outlook. Overall, due to the uncertainties described above, no conclusive estimate can be made at this point in time with regard to the revenue and result of TX Group Ltd for the first half of 2020.