The company wants in this way reduce the cost between now and 2018 structurally by 20 percent, the company reported Friday.
TMG also close the headquarters of Holland Media Combination (HMC) in Alkmaar. The activities of the subsidiary will be under one roof in Amsterdam with those of Telegraph Rural Media.
The company is going to be selection of magazines keep critically examine and investigate which activities can be outsourced.
the results of TMG are still under pressure due to the weak advertising market, evidenced by the published interim report Friday. Yields are annualized declined by 4 percent and operating profit (EBITDA) was halved to 8.1 million.
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In particular, revenues from advertisements in newspapers and magazines is under strong pressure. Which declined in the first half of the year by nearly 22 percent, much stronger than a year earlier.
Revenue from subscriptions and newsstand sales appear to be stabilizing. That part of sales decreased only by 0.6 percent, against 2.8 percent in the first half of 2015.
In order to cope with the difficult market conditions, TMG already intervened heavily in product offerings and the workforce.
” the figures show, however, that we are not there yet, and the positive effects are overshadowed too much by the high fixed costs of the organization, ” said CEO Geert-Jan van der Snoek
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