Financial reporting
Financial overview Accounting Tamedia has introduced the annual “Improvements to the International Financial Reporting Standards” (2013). Their application for the first time did not result in any changes to the consolidation and valuation principles or the net assets and earnings situation, and also did not affect disclosure in the consolidated financial statements.
Changes to the group of consolidated companies Acquisitions On 8 September 2015, Tamedia acquired the Ricardo Group from the South African media empire Naspers. The Ricardo Group operates the online market place ricardo.ch, the vehicle platform autoricardo.ch, the small ads platform olx.ch and the online shopping centre ricardoshops.ch. In addition, on 3 July 2015, Tamedia acquired the Norwegian Schibsted Media Group’s 50 per cent stake in the jointly held subsidiaries Swiss Classified Media AG, car4you Schweiz AG and tutti.ch AG, which operate the small ads platform tutti.ch and the car advertising market car4you.ch. Tamedia thereby increased its stake from 50 per cent to 100 per cent. Further details on these transactions can be found in Note 1 of the Notes to the consolidated financial statements. Disposal of consolidated companies On 25 March 2015, Tamedia sold its 100 per cent stake in the Aktiengesellschaft des Winterthurer Stadtanzeiger to Zürcher Oberland Medien AG. Swisscom and Tamedia transferred their companies local.ch and search.ch to a joint company, resulting in the deconsolidation of search.ch AG. Since 9 July 2015, Swisscom has held 69 per cent and Tamedia 31 per cent of Swisscom Directories AG. The shares in Swisscom Directories AG are recognised according to the equity method. The association “Les Amis du Régional” (Friends of the Régional) acquired the 88 per cent investment in Editions Le Régional SA, which issues the free weekly magazine Le Régional, on 7 August 2015.
Revenues
Exhibit 3
in CHF mn 2014
2015
1050
900
750
600
450
300
150
954
918
1114 1064
99 0
92
61
53
Media revenue
26
Print revenue
Other operating revenue
Revenues