TMG publishes annual report
Annual figures 2016 remain unchanged
Telegraaf Media Groep N.V. (TMG) announces that Deloitte Accountants B.V. has provided an unqualified opinion with regard to the annual figures published on 8 March. These unchanged annual figures are included in the annual report that today has been published on the website of TMG.
Notes to the full-year results 2016
Despite decreasing revenues TMG realised a profit of EUR 1.6 million in 2016, compared to a loss of EUR 23.6 million in 2015. The conversion from print to digital use of content is a continuing trend. As a result of decreasing sales from subscriptions and print advertising last year’s revenues declined by 6.9% to EUR 421 million. Through cost savings and lower reorganisation costs an EBITDA of EUR 9.0 million has been realised, an increase of EUR 1.3 million compared to 2015. Excluding restructuring charges, amounting to EUR 13.0 million in 2016, EBITDA came in at EUR 22.0 million. Thanks to a book profit on the sale of Sky Radio Group, reduced one-off write-downs and a tax gain, TMG was able to turn the net loss recorded in 2015 into a net profit. More information regarding the financial and operational results is included in the annual report that can be downloaded from the website www.tmg.nl.
The Annual General Meeting of shareholders will be held on 1 June, and will be combined with an Extraordinary General Meeting of shareholders in relation to the offer to be made by Mediahuis and VP Exploitatie. The registration date is 4 May 2017.
About Telegraaf Media Groep
Telegraaf Media Groep N.V. (TMG) is one of the largest media companies in the Netherlands, with strong brands such as De Telegraaf, DFT, Telesport, Metro, Autovisie, Privé and VROUW; regional daily newspapers such as the Noordhollands Dagblad and the Gooi- en Eemlander; digital brands such as GeenStijl, Dumpert and Gaspedaal; Classic FM and - via a strategic partnership with Talpa - the national radio stations Sky Radio, Radio Veronica, Radio 538 and Radio 10. We also have dozens of other brands and titles that focus on providing local news, entertainment or e-commerce (including GroupDeal). Via Keesing Media Group we are the market leader in Europe in puzzle magazines and digital puzzles. TMG’s mission is to supply consumers with high-quality, personalised and relevant content in the areas of news, sports and entertainment through all conceivable distribution channels 24 hours a days, 7 days a week. For more information about TMG, visit www.tmg.nl.
This release is a translation of the original text in Dutch. In the event of a discrepancy between the two versions, the Dutch version prevails.