Economia operated at a loss last year; perennially-money-losing Respekt Publishing is in the red again, too
20. prosince 2012, 15:09
The Economia publishing house closed its last year’s accounts with a CZK 21m loss, mitigated by a positive EBITDA of nearly 35 million crowns. As all media relying mostly on the printed word, the publisher of Hospodářské noviny (Economy News) and other periodicals has been facing a drop in its advertising revenue. Economia has 350 staff, which might be unsustainable. In 2010, the company had generated a CZK 13m net profit, after the previous year’s record loss amounting to CZK -136m.
Its two key affiliates were also in the red, although their losses are far from overwhelming: Ecopress (CZK -3.7m) and, as every year, Respekt Publishing (CZK -5.3m). Economia is a BXR Group company; the possibility that it could be ‘shifted” into the realm of one of Zdeněk Bakala’s companies is not to be ruled out, though, as the man and his wife would plan to pay much more attention to their publishing business.
Translated by Lingvus