EANS-Adhoc: Goldbach Media AG /

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6-month report

13.08.2009

Turnover and EBIT figures for the first half-year 2009:
Goldbach Media grows in a recessive market environment

Over 20% growth in sales - 10.5% EBIT increase - gain in market share
and 6.6% organic growth - sales portion of the online business at
38.5% and internationally 20.3% - double-digit sales and single-digit
EBIT growth prognosed for 2009.

Küsnacht, 13 August 2009. The Goldbach Media Group, the leader in
Switzerland in advertising marketing for private electronic,
interactive and mobile media, with its companies IP Multimedia,
AdLINK, OnEmotion and orange8 interactive, together with its
international companies (in Germany, Austria, Croatia, Slovenia,
Serbia, Poland, Czech Republic, Romania and Russia), in the first
half-year of 2009 increased turnover by 20.2% to CHF 139.4 (prior
year CHF 116 million), the EBIT by 10.5% to CHF 6.1 million (prior
year CHF 5.5 million) and the profit from ongoing business activities
by 44.6% to approximately CHF 8 million (prior year CHF 5.5 million).
The equity capital ratio increased to 44.6% (prior year 40.8%). The
portion of sales generated through the online business meanwhile
increased to 38.5%. The Group recorded 6.6% in organic growth.
Despite continued difficult conditions in the advertising marketing
and increasing negative currency exchange factors, through the
Eastern European business Goldbach Media anticipates double-digit
growth rates for 2009 and single-digit growth in EBIT.

Gain in market share in the offline division With the marketing of
private TV, teletext, radio and AdScreen in the offline division,
Goldbach was able to further grow its market share in the first half
of 2009 and in an overall declining advertising market (Switzerland:
gross minus 8%, Source Mediafocus) generated turnover that was 1.4%
higher than the prior year period, amounting to CHF 85.9 million
(prior year CHF 84.7 million). Primarily contributing to this success
were advertising sales for private radio in Switzerland and the
marketing of private television in Switzerland and Austria.
Altogether, the sales of radio advertising increased by 10.8% while
sales of television advertising grew by 2.6%. In contrast, the
marketing of electronic advertising at attractive points of sale
(AdScreen) declined. The EBIT generated in the offline segment
improved over the prior year period by 8.9% to CHF 6.0 million (prior
year CHF 5.5 million).

Performance marketing as driver of growth in the online division In
Goldbach Media's online division, which in addition to Internet
advertising and advertising on mobile phones and interactive games
includes the conception, creation, planning and efficient management
of performance marketing, the advertising logistics expert recorded a
69.9% increase in turnover amounting to CHF 53.8 million (prior year
CHF 31.7 million) and an EBIT of CHF 1.4 million (prior year CHF 2.5
million). The organic growth of turnover in the online division was
over 20%. The markets in Switzerland, Austria and Germany developed
in a particularly positive manner. In Switzerland, with the expansion
of its performance marketing offer and display business, among other
things, Goldbach Media was able to further bolster its market
position and in Austria the ongoing groundwork is paying off.
Turnover in Germany will more than double through the gaining of new
customers in an overall declining online market. Business developed
variably in the Eastern European markets. Goldbach generated
significantly more turnover in Poland, despite the challenging
environment. However, business in Czech Republic stagnated and
turnover decreased in Romania, which is locked in the grips of a deep
recession. Both Goldbach companies in Russia developed and grew
slightly according to plan. The companies in the Adriatic Region also
felt the difficult economic conditions in the first half of 2009,
particularly in Croatia. However, Goldbach was overall able to boost
both its offer and market presence with its most important
Southeastern and Eastern European companies in the first half of
2009. In this way, Goldbach Media as an advertising logistics expert
and established online specialist intends to use the current economic
conditions to create the ideal starting position to meet the
anticipated economic recovery. The EBIT in the online division
decreased by 43.5% to CHF 1.4 million in comparison to the prior year
(prior year CHF 2.5 million) as a result of higher market development
costs in the recessionary economic environment and what tended to be
lower margins. In the first half-year 2009, the online segment
contributed 38.5% toward the Group's total turnover (prior year 27%).

Participation in Internet TV - reassessment in the Romanian print
business With its participation in the Swiss Internet TV company
Wilmaa, Goldbach Media further strengthened its technological
competence in the powerfully growing field of interactive and mobile
marketing. Through a management buyout Goldbach Media was able to
part from four loss-making print media companies in Romania. Goldbach
Media had acquired them within the scope of the ARBOmedia Group
acquisition along with three other print products and the Eastern
European online business. With this acquisition, Goldbach Media
announced that they would depart from the print business when the
opportunity presented itself in order to focus on the marketing of
electronic media. Due to the poor economic conditions in Romania and
reassessment of the print division to be sold (discontinued
operations: publishing company and the marketing of print market) a
loss of CHF 4.3 million was recorded in the half-year results.

Goldbach Media's operational cash flow increased by 47.6% to CHF 6.3
million (prior year CHF 4.3 million) in the first half of 2009. The
profit from ongoing business activities increased by 44.6% to CHF 8.0
million (prior year CHF 5.5 million). The extraordinary loss through
the reassessment of the business portfolio led to a 33.4% decrease in
profit for the period before minority participations of CHF 3.7
million (prior year CHF 5.5 million). The equity capital ratio
increased to 44.6% (prior year 40.8%).

Outlook for 2009: Double-digit turnover growth and single-digit
growth in EBIT The forecasts communicated by Goldbach in March 2009
will be largely confirmed by developments in the first half-year of
2009; however, the higher market development costs in the online
division are weighing on EBIT growth. Single-digit growth is
anticipated in the offline division for 2009, while in the online
division the growth dynamic shall continue with two-digit turnover
growth rates, though at a slower pace due to the poor economic
conditions in several Southeastern and Eastern European markets.
Negative currency exchange factors from these countries shall
particularly leave their mark in the EBIT. Despite these negative
influences, Goldbach Media as a whole shall achieve double-digit
turnover growth and single-digit growth in EBIT for the business year
2009 in a market characterized by general economic conditions that
shall remain the same.

"As a marketer of digital, interactive and mobile media, Goldbach
Media has outstandingly advanced, gained market share and prepared
for the economic recovery not just in Switzerland, Austria and
Germany but also in the most important Southeastern and Eastern
European markets. As early-cycle advertising logistics specialists,
we seek to over-proportionally participate in the recovery of our
Eastern European target markets,? states Klaus Kappeler, CEO of
Goldbach Media. "As a specialized and leading advertising marketer
for digital media, Goldbach Media shall provide targeted support for
the marketing performance of its customers in the anticipated
economic recovery with new and partially self-developed software to
boost the efficiency of performance marketing.

end of announcement euro adhoc
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ots Originaltext: Goldbach Media AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Paul Riesen

CMO Head of Marketing & Communications

Tel. +41 44 914 91 63

Mobile: +41 79 688 24 74

Fax: +41 44 914 93 60

paul.riesen@goldbachmedia.ch

Branche: Media
ISIN: CH0004870942
WKN: 487094
Index: SPI, SPIEX
Börsen: SIX Swiss Exchange / official dealing