Helsinki, Finland, 2015-04-29 07:30 CEST (GLOBE NEWSWIRE) --
TALENTUM OYJ INTERIM REPORT 29 April 2015 at 8.30 a.m.
Talentum Oyj’s Interim Report for January-March 2015:
THE GROUP'S OPERATING INCOME IMPROVED, THE EVENTS BUSINESS AS WELL AS THE BOOKS AND LEGAL TRAINING INCREASED NET SALES
January-March 2015 in brief
- Talentum Group's net sales totalled EUR 18.4 million (EUR 18.1 million)
- Operating income without non-recurring items was EUR 0.9 million (EUR 0.7 million) and operating income (EBIT) was EUR 0.7 million (EUR 0.4 million)
- The operating income of the Events Business and Magazine Business Finland improved clearly in comparison with the previous year
- Due to poorer-than-expected media sales the operating income without non-recurring items for Magazine Business Sweden weakened
- Circulation sales decreased as expected slightly in Finland and Sweden
Net sales of business segments:
- Magazine Business Finland: EUR 6,0 million (EUR 6,3 million)
- Magazine Business Sweden: EUR 4,3 million (EUR 4,7 million)
- Event Business: EUR 3,3 million (EUR 3,0 million)
- Books and Legal Training: EUR 2,7 million (EUR 2,0 million)
- Direct Marketing: EUR 2,8 million (EUR 2,9 million)
| KEY FINANCIAL FIGURES | |||
| EUR million | 1-3 2015 | 1-3 2014 | 1-12 2014 |
| Net sales | 18.4 | 18.1 | 72.3 |
| Operating income without non-recurring items | 0.9 | 0.7 | 4.1 |
| as % of net sales | 5.0 | 3.7 | 5.7 |
| Operating income | 0.7 | 0.4 | 3.4 |
| as % of net sales | 3.6 | 2.1 | 4.8 |
| Income before taxes | 0.6 | 0.4 | 3.8 |
| Net cash from operating activities | 1.1 | 2.0 | 4.4 |
| Total assets | 53.4 | 54.3 | 51.8 |
| Investments | 0.3 | 0.5 | 4.2 |
| as % of net sales | 1.5 | 2.5 | 5.8 |
| Return on invested capital % | 3.1 | 2.1 | 17.5 |
| Return on equity % | 2.5 | 2.0 | 14.7 |
| Equity ratio, % | 42.4 | 41.8 | 47.2 |
| Gearing ratio, % (net debt to equity) | 4.2 | -5.1 | 3.8 |
| Interest-bearing liabilities | 5.0 | 4.7 | 5.4 |
| Net interest-bearing liabilities | 0.7 | -0.9 | 0.7 |
| Personnel on average | 729 | 749 | 721 |
| Earnings per share, EUR | 0.01 | 0.01 | 0.06 |
| Cash flow from operating activities per share, EUR | 0.02 | 0.05 | 0.10 |
| Equity per share, EUR | 0.39 | 0.39 | 0.43 |
Talentum’s business operations are divided into six segments: Magazine Business Finland, Magazine Business Sweden, Events Business, Books and Legal Training, Direct Marketing and Other Activities.
Chief Executive Officer Aarne Aktan:
"Operating income in the period under view improved in comparison with the previous year. Net sales were slightly higher than in the previous year. Net sales of digital products and services amounted to EUR 2.4 million, representing a growth of 30.3 per cent in comparison with the previous year.
In the Events Business, the changes that were made to the product range last year led to improved net sales and operating income in the segment. The product range now better corresponds to the demand of the customer market and the net sales of sponsored events developed particularly positively.
Net sales developed positively in the Books and Legal Training segment. The profitability of the segment remained similar to that of the previous year due to investments in developing products and operations but we expect the investments to improve profitability later on in this year.
The financial development of Magazine Business Sweden was weak. Decrease of recruitment advertisements weakened net sales and operating income in the segment. The development of circulation sales was reasonable, remaining almost at the same level as in the comparison period. Circulation sales accounted for 52.2 per cent of net sales in the segment, while sales of advertisements accounted for 45.6 per cent. We continue to take goal-oriented adaptive measures in Sweden to ensure that the positive trends in operating income, which began during the last financial period, will continue this year. At the same time, we will invest in the development of new digital products and services.
Operating income from Magazine Business Finland developed as expected although net sales fell. Sales of advertisements continued to suffer from the difficult market climate, which we do not expect to improve during this year. Sales of advertisements accounted for 31.6 per cent of the segment's net sales. Circulation sales developed as expected, accounting for 67.4 per cent of net sales in the segment. The profitability of the segment developed very positively.
Operating income from Direct marketing improved slightly in comparison with the previous year."
Talentum prospects for 2015 unchanged
Talentum estimates that its net sales for 2015 will remain approximately at the same level as in 2014. Operating income without non-recurring items will be higher than in 2014. Operating income without non-recurring items was EUR 4.1 million in 2014.
General statement
The forecasts and estimates presented here are based on the management’s current view of economic development, and the actual results may differ substantially from what is now expected of the company.
Financial information 2015
Talentum is planning to publish the results in 2015 as follows:
January-June result 17 July 2015
January-September result 22 October 2015
Briefing
A briefing will be held for analysts and the media on 29 April 2015 at 11.00 a.m. at Sokos Hotel Vaakuna, Asema-aukio 2, 00100, Helsinki.
TALENTUM OYJ
Board of Directors
ADDITIONAL INFORMATION
CEO Aarne Aktan, tel. +358 40 342 4440 and CFO Niclas Köhler, tel. +358 40 342 4420
DISTRIBUTION
NASDAQ OMX Helsinki
Principal media
www.talentum.com
