Ad hoc announcement pursuant to Art. 53 LR
Investor Day for knowledge transfer and information about TX Group’s strategic direction
TX Group has been contributing to a free society for almost 130 years. The company's origins and current DNA are quality journalism and responsible advertising. With the digital platforms, the business model was significantly expanded. This foundation is at the heart of the TX Group's strategic planning and is consistently developed further in order to create sustainable value.
The three traditional companies, Tamedia (paid media), 20 Minuten (free media) and Goldbach (advertising marketing), are each managed independently by a CEO and their own Board of Directors. This allows for a further autonomous development of the companies, which as market leaders have optimal conditions to emerge strengthened from the current structural change and return to a clear growth path. The strategic participations in the Swiss Marketplace Group SMG (TX Group owns 30.76%) and JobCloud (50%) platforms remain central to TX Group. The most popular digital platforms in Switzerland (and JobCloud also in Austria through its 49% stake in karriere.at) are uniquely positioned for further growth.
The central Group Services of the TX Group are managed efficiently and leanly. Going forward, the company's own real estate will be further developed in a separate earnings-oriented department at group level. The portfolio, consisting of three printing centres in Zurich, Bern and Bussigny and four office buildings situated in attractive locations in Zurich and Bern, offers considerable potential for independent development; however, various options for the optimal ownership structure are being examined. Also, part of the group is the return-oriented TX Ventures which is launching its own CHF 100 million FinTech investment fund (details follow below).
TX Group will publish margin targets for the Tamedia, Goldbach and 20 Minuten segments by the 2023 annual results. The targets will be based on peer companies. Due to the shareholding structure at SMG and JobCloud, the communication of the guidance for the TX Markets segment is subject to the approval of the other shareholders.
TX Ventures launches its own CHF 100 million FinTech investment fund
As the independent and return-oriented venture arm of TX Group, TX Ventures has built a strong investment track record with startups such as the challenger bank neon, the alternative investment platform Stableton and the real estate price intelligence software Pricehubble. In what follows TX Ventures’ organic evolution, a single LP (Limited Partnership) fund with a target size of 100 Million CHF is being launched. The newly created fund empowers TX Ventures to continue its successful diversification by extending its geographic mandate to Europe with focus on the DACH region.
The fund’s capital derives partially from past TX Ventures sales (such as Olmero, Star Ticket, Moneypark, etc) and is to be invested in upcoming FinTech opportunities. FinTech, a non-correlated industry to the media business, offers great diversification opportunities with a sizable and growing market and a strong banking ecosystem in Switzerland.
The new fund will further enhance TX Ventures’ integral investment governance with independent reporting and valuation, allowing for a simplified annual reporting standard and helping TX Group achieve further transparency in the performance assessment of the investment team.
The TX Ventures investment committee is chaired by Romy Schnelle, Partner at Hightech Gründerfonds (HTGF) and complemented by well known FinTech Founder Miriam Wohlfarth, Sandro Macciacchini (COO of TX Group), Daniel Mönch (CSO of TX Group) and Olivier Rihs (Board Member SMG and JobCloud).
Investor Day in English today, 6th of December 2022
|2:00 - 5:00 PM
|Werdino, Werdstrasse 21, 8004 Zürich
Ursula Nötzli, Chief Communications & Sustainability Officer, Member of the Group Executive Board
+41 76 462 52 45, [email protected]
Karole Verlage Frei, Communications TX Ventures, Senior Group Communications Manager
+41 76 322 47 10, [email protected]
About TX Group
The TX Group forms a network of platforms and participations that offers users information, orientation, entertainment and assistance for everyday life on a daily basis. Its roots lie in journalism with the diverse newspapers of Tamedia and the free media of 20 Minuten. The portfolio is complemented by the advertising marketer Goldbach. The TX Group is an anchor shareholder of the SMG Swiss Marketplace Group and JobCloud, holds majority stakes in Doodle and Zattoo and is an investor in the fintech sector through TX Ventures. Founded in 1893, the company has been listed on the Swiss stock exchange since 2000. www.tx.group