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24.08.2016 – 05:38

Goldbach Group AG

EQS-Adhoc: Goldbach Group AG: Goldbach Group increases revenue and profit

EQS Group-Ad-hoc: Goldbach Group AG / Key word(s): Half Year Results
Goldbach Group AG: Goldbach Group increases revenue and profit

24.08.2016 / 05:30
Release of an ad hoc announcement pursuant to Art. 53 KR.

Business performance in the first semester 2016
Goldbach Group increases revenue and profit

Revenue growth of 3.2% to CHF 234 million - operating result increased on EBITDA
level by 12% - net result of CHF 3.7 million - major extensions and acquisitions
of marketing mandates in the first semester - further streamlining in the
Marketing Services segment through the sale of the Digital Presences business
unit - positive financial outlook for 2016 confirmed - CMO Klaus Nadler leaves

Küsnacht, 24.08.2016. The Goldbach Group, which is listed on the SIX Swiss
Exchange, had a successful first semester in 2016. The Group increased its
revenue in a challenging advertising marketplace by 3.2% against the prior-year
period to CHF 234 million. Adjusted for divestments and currency effects,
revenue growth was 4.6%. Operating profit before depreciation (EBITDA) came to
CHF 13.3 million and operating profit (EBIT) was CHF 11.8 million, corresponding
to growth of 12.2% and 10.1% respectively. As an indicator of operational
profitability, the EBITDA margin increased to 5.7% during the period under
review (prior year 5.2%). The successful sale of the Group's operations in
Poland was behind an extraordinary result of CHF +1.9 million, relative to CHF
+0.7 million when the Group streamlined its business portfolio in the prior
year. After taxes and minority interests, the net result attributable to the
shareholders of the Goldbach Group thus came to CHF 3.7 million, compared to CHF
2.4 million in the prior year.

Ad Sales Switzerland
The Ad Sales Switzerland segment comprises the Group's advertising sales in
Switzerland and achieved revenue of CHF 211 Mio. (+6.5% against the previous
year). This growth was reflected in the EBITDA of this segment by a 2.6%
increase to CHF 18.1 million.

Swiss TV business continued to grow in 2016, posting a marked increase of 8.9%,
in spite of our assessment that the advertising market contracted during the
first semester and this year's major TV events, such as the European Football
Championships, are mainly being covered by public broadcasters. This success is
partly due to the consistent growth of the Goldbach Media (Switzerland) AG
channel portfolio, the popularity with advertisers of programmes screened by
channels represented by Goldbach and a strong sales performance. Moreover, the
early and multi-year extension of the marketing strategy with the media group
RTL Deutschland in the first half of 2016 established a long-term working
relationship with this important partner. The nomination of Goldbach Media
(Switzerland) AG as the best marketer by advertising clients and media agencies
at the Media Trend Awards (for the fifth consecutive year) was equally

Radio also performed well, although it did not quite reach the record revenue
levels of the months following the abandonment of the euro minimum exchange rate
in January 2015, which it wasn't expected to do. The popularity of advertising
formats on digital radio platforms such as Spotify is still growing.

Goldbach has managed to position itself as a prominent leader in the strongly
growing segment of online video advertising through its acquisition of exclusive
marketing mandates for Zattoo and Teleboy. The company also entered into a
strategic partnership with VICE, a rapidly growing media platform for young
adults, and added the website to its sport segment. Goldbach
Crossfactory and Goldbach SynchScreen were launched as innovative products in
the first semester, enabling an extension of the TV brand presence in the online
domain. It is worth highlighting that this offer enables programmes to be
delivered via the mobile platform Splicky, which was acquired in 2015.

Ad Sales Germany
There was organic business expansion in Germany, although it proved slower than
projected. Nonetheless, the quarter-on-quarter revenue growth shows that the
business is on the right track. Goldbach has accumulated a major advertising
inventory over the past one-and-a-half years and currently markets 86 media
platforms, of which 28 are pay and free TV broadcasters which have had an AGF
licence with Goldbach TV since the end of 2015, making them eligible for the
advertising market. In addition, cross-border products have been under
development in Germany for the German, Austrian and Swiss markets since the
start of 2016.
In the first half-year, Ad Sales Germany achieved major revenue growth exceeding
150% to CHF 3.5 million. The half-year EBITDA result improved to CHF -1.3
million (prior year CHF -1.8 million).

Ad Sales Austria
Business development remains positive in Austria. The TV portfolio was expanded
by the start of the advertising window N24. Goldbach has Austria's largest
independent online marketing network. Ad Sales Austria posted revenue of CHF 5.7
million in the first half-year and an EBITDA of CHF 0.1 million.

Marketing Services
The Marketing Services segment failed to meet expectations in the first semester
of 2016 due to the persistently fraught market situation. Revenue was down by
23% to CHF 14.7 million and the EBITDA operating result was CHF -1.4 million
(prior year -0.6 million). The Group conducted a strategic review of the segment
in 2016. Having withdrawn from a plan last year to develop a 360-degree creative
agency, the Group is now also discontinuing its production and development of
websites and e-commerce shops. In July 2016, Goldbach sold its Digital Presences
business unit based in Biel to Computer Rock AG. In the first semester of 2016,
Digital Presences employed about 20 people with revenue in the low one-digit
millions. Marketing Services will focus in future on campaign-related services
in the areas of performance marketing, search marketing and social media. These
services are being offered to direct clients in Switzerland, Germany and Austria
by a significantly leaner organisation and they comprise a key component of the
Goldbach Group portfolio.

Earnings and cash flow
The net result increased by 57% to CHF 3.7 million in the first semester of
2016. This clear increase was partly due to consistent cost management as well
as the good operating result and the income from the sale of the subsidiaries in
Poland. Overhead costs were reduced by over CHF 1 million against the prior year
in the first semester 2016. Operative cash-flow was CHF 8.4 million, which was
CHF 12.7 million higher than the prior year.

Based on the current outlook and due to the consistent implementation of the
initiated measures, the Goldbach Group anticipates its positive financial
development to continue through the second half of the year. The Group is
standing by its financial goals for 2016 and expects organic revenue growth in
the one-digit percent range from continuing operations and an improvement of
EBITDA operative profitability in the two-digit percentage range. The net result
attributable to shareholders should increase to CHF 8-10 million in 2016.

Change in the Executive Committee of the Goldbach Group
The Goldbach Group and CMO Klaus Nadler have agreed to end his employment
relationship at the end of the year 2016. Klaus Nadler joined the company on 1
March 2014, and held the role of Chief Marketing Officers (CMO). Over the past
year he also implemented the restructuring of Goldbach Interactive (Switzerland)
AG, and at the same time worked from the onset on the development of Goldbach
Germany. Klaus Nadler plans to take on new challenges and projects in future and
will continue to work with Goldbach in an advisory capacity. The Board of
Directors and Executive Committee would like to take this opportunity to thank
Klaus Nadler for his work and wish him all the best for the future. CEO Michi
Frank will take on responsibility for Nadler's tasks in the Executive Committee.

Note to analysts, investors and media representatives
Goldbach Group AG will hold a teleconference today at 9:30 am to summarise its
results for the first half of 2016. Registrations possible until 08.30 am. More
information is available

The presentation and Goldbach Group AG's 2016 interim report can be downloaded
from our website:

8'289 Characters incl. spaces

Further information:
Investor Relations
Goldbach Group AG 
Lukas Leuenberger 
T +41 (44) 914 92 07

Corporate Communication
Goldbach Group AG
Jürg Bachmann
Head of Communication & Marketing/Public Affairs
M +41 79 600 32 62

Goldbach Group Company Profile
The Goldbach Group companies market and represent advertising in private
electronic media in the areas of television, radio, digital-out-of-home, online,
search engine and mobile marketing. As an independent aggregator, Goldbach
offers its clients advertising windows where selected target groups receive
commercial information at the right time irrespective of their location. The
Group's core business comprises planning, consulting, creation, concept
development, purchasing and implementation through to assessment of the
deployment of electronic offline and online media and cross-media campaigns
based on data-driven technologies.

The Goldbach Group is listed on the SIX Swiss Exchange (Swiss Reporting
Standard, security number 487094, ISIN CH0004870942, ticker symbol: GBMN), is
based in Switzerland (Küsnacht-Zurich) and is active in German-speaking

Further information: 


End of ad hoc announcement
Additional features:

Subtitle: Kennzahlen Halbjahresbericht 2016 Goldbach Group

Document title: Press Release Interim Report 2016 Goldbach Group

24.08.2016 News transmitted by Tensid EQS AG.


Language: English

Company:  Goldbach Group AG

          Seestrasse 39

          8700 Küsnacht-Zürich


Phone:    +41 44 914 91 00

Fax:      +41 44 914 93 60


ISIN:     CH0004870942

Valor:    487094

Listed:   Foreign Exchange(s) SIX

End of News EQS Group News Service
495263  24.08.2016