Eniro, Year-end report 2011

 | Source: Eniro AB Eniro AB 

Eniro, Year-end report 2011

Eniro’s cash flow increased by SEK 307 M in the fourth quarter and an extra loan
payment of SEK 150 M will be made in the first quarter 2012

Fiscal year 2011

  · In line with previously communicated forecasts, operating revenues totaled
SEK 4,323 M (5,326), an organic decline of 11 percent
  · Online revenues rose 1 percent, and the largest market, Sweden, rose 9
percent
  · EBITDA amounted to SEK 991 M (605), equal to an EBITDA margin of 23 percent
(11)
  · Operating cash flow for the year amounted to SEK 230 M (151)
  · Cost savings amounted to SEK 458 M (435)
  · Earnings per share for the period were SEK -2.13 (-248.43)
  · Net debt declined to SEK 3,675 M (3,951)

Fourth quarter: October – December 2011

  · Operating revenues, seasonally impacted by a high proportion of printed
directories, totaled SEK 1,194 M (1,482), down 16 percent organically.
  · Online revenues declined 5 percent. The development in the quarter was
effected by a correction of accrued revenues. The online revenues were
unchanged, excluding for the correction.
  · EBITDA amounted to SEK 319 M (409), equal to an EBITDA margin of 27 percent
(28)
  · Earnings per share for the period were SEK 1.25 (5.85)
  · Operating cash flow rose by SEK 469 M to SEK 307 M (-162)
  · The covenants of the loan agreement were fulfilled

Events in the fourth quarter

  · Eniro acquired specific assets in De Gule Sider in Denmark
  · Eniro and Google signed a strategic co-operation agreement
  · Eniro signed a letter of intent to purchase the directory assistance service
118 800
  · Eniro Norway is concentrating its operations and will phase out the Gule
Sider directory in 2012

After the close of the period

  · Eniro aims to make loan payments of SEK 650 M in 2012, of which SEK 150 M
will comprise an extra repayment of loans in the first quarter and SEK 500 M in
contractual loan payments

For more information, please contact:
Johan Lindgren, President and Chief Executive Officer, Ph: +46 (0)8-553 310 01
Mattias Lundqvist, CFO, Ph: +46 (0)8-553 310 04
Cecilia Lannebo, Head of Investor Relations, Ph: +46 722 208 277, e-mail:
cecilia.lannebo@eniro.com

This Press Release contains information that Eniro AB (publ) is required to
disclose in accordance with the Swedish Financial Instruments Trading Act and/or
the Swedish Securities Market Act.

 

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