Ringier makes 4.9m-euro net income

The Swiss press group Ringier saw a turnover worth 172.9 million RON (47.7 million euros, calculated at an average exchange rate) and a net profit worth 17.9 million RON (4.9 million euros) in 2005, from its operations on the Romanian market, where it owns Libertatea, Evenimentul Zilei and Capital among others. “Our turnover in RON stagnated in 2005 against 2004 due to the appreciation of the national currency against the euro. But our net profit increased by 27% to 17.9 million RON,” stated Thomas Landolt, general manager of the operations in Romania. Newspapers, with 102.4 million RON (28.2 million euros) and magazines, with 30.4 million RON (8.38 million euros) accounted for the bulk of the turnover, with the remaining revenues derived from distribution and printing. ZF