We have come through two particularly difficult years on many levels, obviously the health crisis and its human impact, but also in terms of organisations and the economy. But following this period that taught us resilience and how to handle the uncertainties of life, the Luxembourg economy has finally rebounded. Statec has forecast a GDP growth of nearly 7% for 2021, and employment agency Adem announced an unemployment rate of 5.3% for last November, which corresponds to the rates before the covid crisis.
And yet, the recovery is not the same for all sectors or all businesses. For Maison Moderne, the exit from the crisis is slower. It seems even more difficult given that the leading independent media company in the grand duchy has been among the over-achievers in its field in terms of profitability in both Luxembourg and Europe for about ten years.
2021 saw Maison Moderne renew the management of each of its three business lines with the arrival of Bérengère Beffort at the publishing house, Youcef Damardji at the Brand Studio and Artur Sosna at the Business Club. 2021 was also the year that the law on an aid scheme for professional journalism was finally passed through parliament--an important gesture by Xavier Bettel’s government in favour of media pluralism in Luxembourg.
For the publishing house, 2021 was the year in which Delano became a monthly magazine, published its first supplements, launched a new website and a series of specialist newsletters and expanded its editorial staff to 10 journalists. Indeed, for its tenth anniversary, Delano has repositioned itself to focus even more on business, financial and political issues. It is now aligned with the Maison Moderne flagship publication Paperjam, only in English. Paperjam continues its growth in terms of audience and subscribers, but also in terms of the diversification of its products such as its annual Architecture + Real Estate publication or the bi-annual Paperjam Foodzilla newspaper.
In 2022, I will personally be involved in accelerating this exit from the crisis and achieving our prime objectives.
For the Brand Studio, 2021 was the year of the merger of the advertising and content agency. This not only allows it to better meet the needs of advertisers, but also to change its relationship with customers by moving towards giving them more long-term strategic advice. Finally, 2021 was the year in which the Business Club began the rollout of its New Deal offer, a proposal that creates value for members far beyond just attending events.
Before I was a publisher, I was an entrepreneur. And as an entrepreneur, I am aware that the financial underperformance of one year does not reflect the future development of the company. I am very confident in the business model of Maison Moderne, in its reputation, in our two media brands Delano and Paperjam, in our Business Club and in our Brand Studio. I am also very confident in the teams, in their ability to contribute to the success of the company project.
In 2022, I will personally be involved in accelerating this exit from the crisis and achieving our prime objectives. Firstly, to ensure satisfaction for our readers, our members and our customers. And to succeed in our financial goals while being an employer that allows its more than 135 employees to develop and feel pride.
I really believe in this business plan. I believe in it so much that I just closed a deal to purchase 100% of the shares of Maison Moderne, the company I created twenty-eight years ago. I’ll see you in 2022.