BERTRANGE, Luxembourg, February 11, 2003 (PRIMEZONE) -- Metro International S.A. ("Metro") (Nasdaq:MTROA) (Nasdaq:MTROB), today announced its financial results for the fourth quarter and twelve months ended December 31, 2002.
FOURTH QUARTER HIGHLIGHTS
- 19 editions launched more than 1 year ago report EBITA operating profit(excluding headquarters) of US$ 0.04 million (US$ -4.3 million)
- Group operating losses reduced year on year by 44% to US$ -10.5 million (US$ -18.6 million)
- Net sales up 44% year on year to US$ 46.4 million (US$ 32.2 million) and international sales up 67% to US$ 32.6 million (US$ 19.6 million)
- Metro now world's largest newspaper outside Japan
- 10 out of 24 editions report operating profits in the quarter and a further four editions report monthly operating profits
- Spanish operations report first combined quarterly operating profit
- 9.5% year on year reduction in average cost per copy in quarter and 9.0% for full year
- Liquid funds of US$ 24.0 million at close of quarter, including US$ 11.4million of restricted funds
- SEK 150 million of secured additional funding from Kinnevik drawn down after year end
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http://www.waymaker.net/bitonline/2003/02/11/20030211BIT00940/wkr0002.docThe full report http://www.waymaker.net/bitonline/2003/02/11/20030211BIT00940/wkr0004.pdfThe full report