Luxembourg, 19th October, 2009 - Metro International S.A. ("Metro
International" or the "Group") (MTROA, MTROB), today announced its
financial results for the third quarter ended 30th September 2009.
Information was submitted for publication on 19th October, 2009 at
8:00 A.M. CET.
THIRD QUARTER HIGHLIGHTS
* Net revenues declined year-on-year by 8 percent in the third
quarter adjusting for currency movements, closed and divested
operations. Total net revenues decreased year-on-year in the
third quarter by 26 percent to EUR 42.5 million (2008: EUR 57.0
million).
* The operating loss excluding closed and divested operations was
EUR 4.6 million in the third quarter (2008: operating loss of EUR
8.7 million excluding closed and divested operations). The total
operating loss was EUR 5.1 million (2008: operating loss of EUR
13.4 million).
* The net loss for the third quarter was EUR 8.6 million (2008:
profit of EUR 22.2 million[1]).
* Operating costs declined year-on-year in the third quarter by 15
percent adjusting for currency movements and closed and divested
operations. Costs incurred at headquarters declined year-on-year
by 22 percent in the third quarter.
* In July, Metro Italy was fully divested to New Media Enterprises
S.r.L.. The transaction is estimated to have a one-off positive
cash flow impact for Metro International of approximately EUR 0.7
million in 2009.
* In July, the Group announced that it had entered into a franchise
agreement in Ecuador with the leading media group Grupo Hoy and
re-launched the existing free newspapers in Quito and Guayaquil
under Metro International's global newspaper format. The Group
acquired a 15 percent shareholding in the venture.
* In September, the Group's operation in Hungary entered into a
sales partnership with Axel Springer and implemented several
structural changes for the purpose of improving the financial
performance of the Hungarian operation.
* The basic and diluted net loss per share for the third quarter
was EUR 0.014 (2008 basic and diluted net profit per share: EUR
0.045).
FIRST NINE MONTHS RESULTS
* Total net revenues decreased year-on-year by 11 percent during
the first nine months adjusting for currency movements, closed
and divested operations. Total net revenues decreased
year-on-year by 25 percent to EUR 158.7million (2008: EUR 211.9
million).
* The operating loss during the first nine months, excluding closed
and divested operations was EUR 12.3 million (2008: loss of EUR
7.0 million). The total operating loss was EUR 22.8 million
(2008: loss of EUR 18.4 million).
* The net loss in the first nine months was EUR 27.5 million (2008:
profit of EUR 13.8 million[2]).
* Operational costs during the first nine months declined by 8
percent adjusting for currency movements and closed and divested
operations.
* Metro International recorded during the first nine months a basic
and diluted net loss per share of EUR 0.048 (2008: basic and
diluted net profit per share EUR 0.031).
[1] Ibid.
[2] Including profit of EUR 37.5 million on sale of shares in Metro
Sweden.
CONFERENCE CALL
Metro International will host a conference call today at 10.00 A.M.
CET which will be broadcast live on the internet and as a conference
call.
Participants can take part in the call either through the audiocast
or the conference call.
To view the Internet Audiocast:
A live audiocast of the presentation will be available on
www.metro.lu, 19th October 2009 at 10.00 A.M. CET.
To participate in the conference call, please dial in on the
following numbers:
Sweden Tel: +46 (0)8 505 598 53
UK / International Tel: +44 (0)20 304 324 36
US free phone number Tel: +1 866 458 40 87
Conference call participants can access the presentation slides on
http://www.metro.lu/node/79.
For those unable to listen to the live broadcast, a replay will be
available at Metro's website www.metro.lu approximately one hour
after the event.
For further information, please visit www.metro.lu or contact:
Per Mikael Jensen, CEO and President Tel: +44 (0)20 7016 1300
Anders Kronborg, CFO Tel: +44 (0)79 1254 0800
Ingrid Seldén, IR Contact Tel: +44 (0)77 2524 5881
DATE OF NEXT REPORT
Metro's financial results for the fourth quarter ended 31st December
2009 will be published on 4th February 2009.
METRO INTERNATIONAL S.A ANNUAL GENERAL MEETING 2010
The 2010 Annual General Meeting will be held on 11am, 27th May 2010
in Luxembourg. Shareholders wishing to have matters considered at the
Annual General Meeting should submit their proposals in writing to
agm@metro.lu or the Company Secretary, Metro International S.A. 2-4,
avenue Marie-Therese, L-2132 Luxembourg, Grand Duchy of Luxembourg at
least seven weeks before the Annual General Meeting, in order that
the proposal may be included in the notice to the meeting. Further
details on how and when to register will be published in advance of
the meeting.
NOMINATION COMMITTEE FOR THE 2010 ANNUAL GENERAL MEETING
A Nomination Committee of major shareholders in Metro International
has been formed in accordance with the resolution of the 2009 Annual
General Meeting, The Nomination Committee is comprised of Cristina
Stenbeck on behalf of Investment AB Kinnevik, Marianne Nilsson on
behalf of Swedbank Robur and Annika Andersson on behalf of the 4th AP
Fund.
Information about the work of the Nomination Committee can be found
on Metro International's corporate website at www.metro.lu.
Shareholders wishing to propose candidates for election to the Board
of Directors of Metro International S.A. should submit their proposal
in writing to agm@metro.lu or to the Company Secretary, Metro
International S.A, 2-4, avenue Marie-Therese, L-2132 Luxembourg,
Grand Duchy of Luxembourg.
***
ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is
published in over 100 major cities in 19 countries across Europe,
North & South America and Asia. Metro has a unique global reach -
attracting a young, active, well-educated Metropolitan audience of 17
million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm
through Swedish Depository Receipts of series A and series B under
the symbols MTROA and MTROB.
FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED 30TH SEPTEMBER 2009
| Source: Metro International S.A.