Results 2008: Edipresse withstands well

In Switzerland, the effects of the economic slowdown have led to a decrease in newspaper advertising turnover. The vigorous measures undertaken to reduce costs in spring 2008 allowed the margins of Swiss activities to be kept at levels close to that of 2007. The growing success of Internet businesses (in particular those from the news websites – lematin.ch, 24heures.ch and tdg.ch, which command the biggest audiences in French speaking Switzerland - as well as thematic websites jobup.ch and homegate.ch) contributed to maintaining a stable financial situation. The progressive integration, as of 2010, of the Swiss activities with the Tamedia Group (announced at the beginning of March 2009) will lead to a transformation and a solid framework for the company’s newspapers, magazines and websites, thereby ensuring an organization which will come out of the current crisis stronger. (To note: this transaction is still awaiting approval from the Swiss Competition Commission).

In Spain, the Group’s companies hold excellent market positions, but the morose economic context has not allowed for an increase in results.

In Eastern Europe, Poland stands out as an important and effective contributor to the Group. The launch of the people magazine Party continues to remain successful in 2008 with close to 500,000 copies (on average) sold and profitability achieved in its first full year of operation. The Russian and Ukrainian activities reached their 2008 objectives and continue to grow, despite an extraordinarily difficult political and economic environment.

The activities of both Edipresse Asia and Edipresse Luxe have developed quickly and profitably, with a number of launches, in particular the watchmaking titles: GMT XXL in Romania, in Malaysia, Singapore, Hong Kong and Taiwan, as well as the French edition of Revolution (France, Belgium and French speaking Switzerland).

Except for Internet activities, the year 2009, like for all media companies, has started in a challenging way. To provide forecast results for the end of the year would be very uncertain, particularly due to the unpredictability and extreme volatility of advertisers.

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