Lausanne, Switzerland (GenevaLunch) – Edipresse, whose Swiss operations are scheduled to be sold to Tamedia in Zurich in 2010 if the deal is approved by the federal government, has posted a loss of CHF8.9 million for the first half of 2009, citing the continuing overall weak economy and lower advertising revenue. The company notes that the fall in turnover, CHF36 million, was not as great in percentage terms as the decline in profits, showing the positive impact of cost-cutting measures. The figures are in any event difficult to compare to previous financial results because the company has adopted new accounting methods as part of the spinoff, and the Swiss business is now handled separately as “discontinued business.”

The Swiss arm of Edipresse had January-June 2009 revenues of CHF173.6 million, down CHF 38m (-18%) compared to the same period in 2008, “mainly due to the fall in advertising receipts.” The profit on these operations nevertheless remained positive, before depreciation, at CHF22.5 million, a fall of CHF-13.7m.

Edipresse is the largest media company in French-speaking Switzerland, publishing three of the top four newspaper, the Tribune de Geneve, 24 Heures and Le Matin, and with approximately half the ownership in the fourth, Le Temps.

Chairman Pierre Lamunière says he does not expect the advertising market to improve in 2010 but it does expect to return to profitability.

Related: 20 Minutes, TSR, Fre

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