Goldbach Group AG

euro adhoc: Goldbach Media AG
Annual Reports
Goldbach Media on track with two-digit revenue and EBIT growth

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annual report/groupe result 2008

05.03.2009

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Ad hoc press release

Group result 2008:     Goldbach Media on track with two-digit revenue and EBIT growth

Revenue growth 11.8% - EBIT increased by 13.7% - profit CHF 10.33
million -      dividend of CHF 0.57 proposed - positive start to the
year - continued      dynamic growth forecast for 2009

Küsnacht, March 5, 2000. Goldbach Media Group, the leader in the
advertising      marketing of private electronic, interactive and
mobile media in Switzerland,      with the companies IP Multimedia,
AdLINK, OnEmotion and orange8 interactive,      together with its
international companies (Germany, Austria, Croatia,      Slovenia,
Poland, the Czech Republic, Romania and Russia) increased turnover    
by 11.8% in 2008 to CHF 264.91 million and its EBIT by 13.7% to CHF
20.28      million (prior year CHF 17.84 million). The profit for the
year after      minority interests amounts to CHF 10.33 million (prior
year 18.78 million      including proceeds from the sale of Radio Z and
Radio Ri; CHF 6.74 million      adjusted for these special factors).
The EBITDA increased by 13.5% to CHF      22.89 million (prior year CHF
20.17 million). The EBIT in the online segment      increased by 21.6%
and by 10.8% in the offline segment. A dividend      payment of 33% of
the profit for the year or CHF 0.57 per share will be      proposed the
General Meeting.

48.8% growth in the online segment - already contributing more than
30% to      turnover. The Goldbach Media Group already published it
provisional sales      figures for the business year 2008 back on
January 20, 2009. In the online      segment, the advertising
logistician active in Switzerland, Austria and      Germany, along with
the online marketing companies in Croatia and Slovenia      acquired in
March 2008, as well as the online business in Poland, the Czech
Republic, Romania      and Russia acquired with ARBOmedia in September
2008, recorded sales turnover      of CHF 80.23 million, which
corresponds to turnover growth of 48.8 %.      Adjusted for the
acquisitions made in 2008, the organic growth in sales      turnover in
the online segment amounted to 15.2%. The uncertainty in the      
online markets in Switzerland, Austria and Germany temporarily
throttled the      growth dynamic in the second half of 2008. The EBIT
contribution achieved in      the online segment grew by 21.6%. With
the online segment, which in addition      to Internet advertising also
included target group marketing over the      Internet, search engines,
mobile devices, as well as advertising in      interactive games and
performance marketing, Goldbach Media has already      generated 30.3%
of the total turnover (prior year 22.7%).

More stable offline segment: Increase of TV revenues      In the
offline segment, with the marketing of private TV, teletext, radio
and      adScreen - primarily in Switzerland - Goldbach generated
turnover of CHF      185.86 million (prior year CHF 184.05 million).
Sales of advertising on      private television developed clearly above
the industry trend and increased      by 5.9% to CHF 148.21 million
(prior year CHF 139.98 million). In the fourth      quarter of 2008,
the sales of TV advertising remained steady and proved to be      a
stable source of revenue for Goldbach Media. Around 56% (prior year
59%) of      the total turnover for Goldbach Media originated in 2008
from the TV      marketing business. After the sale and loss of Radio Z
AG, Goldbach Media      still achieved in 2008 turnover of CHF 32.61
million (prior year CHF 39.26      million) with the marketing of radio
advertising. This represents a decrease      of 16.9%. When adjusted
for the divested activities, however, Goldbach Media      sold 4% more
national radio advertising than in the prior year, even though      the
overall market showed recessive tendencies. The radio business
accounted      in 2008 for around 12.3% (prior year 16.6%) of the total
turnover. The      marketing of electronic advertising at attractive
points of sales (adScreen)      increased in the reporting year by 4.7%
to CHF 5.04 million (prior year CHF      4.81 million). The EBIT
achieved in the offline segment improved by a total      of 10.8%.

Significant growth of the international business      Goldbach Media's
international business grew significantly in 2008 by 79.3%.      Around
13.7% of the total revenue is now generated internationally. The      
online marketing businesses in Croatia and the activities in the
Adriatic      region acquired in March 2008 grew in an especially
positive manner. Only the      revenues for the online businesses in
the fourth quarter have been included      for ARBOmedia.

Outlook: Growth in turnover and EBIT anticipated      Goldbach Media is
off to a positive start in 2009. Sales turnover in the      offline
segment, particularly the TV advertising sales, lie above the      
corresponding values for the previous year. The radio business will
also run      into difficulties in 2009. The volume of orders in the
online segment is      developing in a positive manner, according to
expectations; however, negative      currency movements are
anticipated, particularly in Eastern Europe. In the      
German-speaking region (Switzerland, Austria, Germany) and in the
Adriatic      region (Croatia, Slovenia, Serbia), as well as in Poland
and also the Czech      Republic, the online segment is profiting from
the ongoing growth dynamic of      online advertising and performance
marketing in interactive media, while the      cooling of the economy
in Romania and Russia has been clearly noticeable      since the fourth
quarter of 2008. Goldbach Media intends to continue its      organic
growth in the current year by focusing on the online business and, if
the opportunity arises, will also seek to drive further growth
through      acquisitions. The online and international business shall
again increase in      2009. Goldbach Media is anticipating a revenue
share of between 35% and 40%      in the online segment, and between
20% and 25% for international business.      Overall, based on market
assessments at the beginning of 2009 business year,      Goldbach Media
anticipates growth in turnover and a further EBIT increase of      10%.

"Goldbach Media is active in a growth market as a leading marketer of
digital, interactive and mobile media, and was able to further
strengthen its      market position in the reporting year," states
Klaus Kappeler, CEO of      Goldbach Media. "Even with generally
sinking advertising outlays, we      anticipate an ongoing growth
dynamic due to the measurability of advertising      success in digital
interactive media and in the online segment. Performance      marketing
has embarked on a triumphal procession worldwide. As a specialized    
and leading advertising marketer in digital media, Goldbach Media
intends to      gain further market share, particularly in times of
economic recession."

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ots Originaltext: Goldbach Media AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Paul Riesen
CMO Head of Marketing & Communications
Tel.      +41 44 914 91 63
Mobile: +41 79 688 24 74
Fax:      +41 44 914 93 60
paul.riesen@goldbachmedia.ch

Branche: Media
ISIN:      CH0004870942
WKN:        487094
Index:    SPI, SPIEX
Börsen:  SWX Swiss Exchange / official dealing



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