Highlight Communications AG Announces 2023 Fiscal Year Results

Highlight Communications AG reported a downturn in its financial results for the fiscal year 2023. Total consolidated sales reached CHF 421.3 million, a decrease of 19.6% compared to the previous year's CHF 523.8 million. This decline primarily resulted from production challenges and adverse foreign currency effects, particularly affecting the Film segment.

The company's earnings before interest and taxes (EBIT) also saw a significant reduction, dropping to CHF 6.9 million, a 52.9% decrease from the prior year's CHF 14.6 million. Highlight Communications attributed this downturn to the same unfavorable foreign currency impacts and a general decline in consumer behavior. Net profit for the group was negative, coming in at CHF -10.6 million, compared to CHF -2.9 million the previous year.

The performance across its operating segments varied, with notable challenges in the Film segment, where sales plunged by 29.1% to CHF 253.6 million. However, the Sports and Event segment remained relatively stable, slightly increasing its external sales to CHF 167.7 million. Despite a difficult market environment, caused by ongoing inflation and geopolitical concerns, such as the Ukraine crisis, the group managed to maintain some areas of business while facing declines in others.

Looking ahead, Highlight Communications is cautious about the fiscal 2024 outlook due to persistent market uncertainties. The departure of CFO Peter von Büren in mid-2024 and the subsequent appointment of Hasan Dilsiz as his successor marks a significant change in the company's management. The annual general meeting is scheduled for June 27, 2024, and the annual report is now available for download in multiple languages.