Annual Report 2017
20/33

Through the interlinking of a linear salary increase after eleven months with minimum salary increases, an additional raising of the entry-level tariff group and the capping of the increases in the highest tariff groups, as well as the introduction of an employer-supported retirement provision for those employees who do not fall within the scope of the Press Pension Fund’s compulsory retirement provision, it was finally possible to agree on a package that takes into account the interests of all concerned. The resulting planning certainty also had a positive effect on the structural projects that were started during the year under review. 

The number of employees increased slightly on an annual average of 677. The proportion of female employees in the company rose by a barely noticeable single percentage point to 48%. The number of part-time employees has fallen slightly and now stands at 139. 

Depreciation and amortization was 2.9 million euros and thus remained constant compared with the previous year's level. 

Other operating costs fell by 0.8 million euros to 18.9 million euros. The cyclical omission of expenses for major sporting events, as well as sustained savings in communication and office space costs, played an important role here. In contrast, expenses for value adjustments on receivables and losses due to currency fluctuations increased noticeably. 

The financial result amounted to 12.2 million euros, which is almost identical to the previous year. A slight decline of 0.1 million euros in earnings from the transfer of profits from subsidiaries was offset by an increase of approximately the same amount in income from equity investments. 

Interest income saw a further decline due to the persistently difficult situation on the investment markets, although this was at a low level. 

This led to a result from usual activities of 1.2 million euros. Net income after taxes amounted to 1.2 million euros due to tax refunds and was therefore, as expected, just below the previous year's level, but 0.3 million euros above the planned budget. 

The management and supervisory board propose to the shareholders' meeting to balance the net income for the year of 1,217,306.38 euros with the loss carried forward of 1,309,712.48 euros as of 01.01.2017 to the balance sheet loss of 92,406.10 euros and carry it forward to the new period. 

In addition to its core business, dpa operates in a large number of business areas and fields through its independent, wholly-owned subsidiaries. Due to the chosen structure, dpa's earnings are highly dependent on the economic development and the related earnings contributions of affiliated subsidiaries and other holdings that, as a rule, are subject to profit-transfer agreements. In 2017, they once again generated high net incomes and contributed a total of 12.3 million euros, which matched the high level of the previous year. 

As part of the existing profit and loss transfer agreement, news aktuell GmbH made the largest contribution to the success of the dpa group, almost 6.1 million euros. The growth of the newest business, zimpel, and the continued strict cost management both had a positive impact on the increase in the annual result.