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Letter to shareholders/Half-year report 2009
The globally dismal economic situation brought with it a significant decrease in advertising budgets in Switzerland as well as all other Affichage markets. In the first half of 2009, our domestic sales revenue declined by 24.0% to CHF 116.2 million; abroad, sales revenue fell by 19.4% to CHF 56.4 million.
Financial highlights:
- Decrease in sales revenue by 22.5% to CHF 172.6 million
- Decrease of EBITDA by 43.1% to CHF 23.1 million
- Decrease of operating income (EBIT) by 66.9% to CHF 8.2 million
- Decrease of net income by 60.9% to CHF 5.9 million
- Decrease of cash flow by 53.8% to CHF 16.3 million