BERTRANGE, Luxembourg, Oct. 21, 2003 (PRIMEZONE) -- Metro International S.A. ("Metro")(Nasdaq:MTROA) (Nasdaq:MTROB), today announced its financial results for the third quarter and nine months ended 30 September 2003.
NINE MONTHS ENDED 30 SEPTEMBER 2003
- Group net sales up 44% year on year to US$ 139.1 million (US$ 96.4 million)
- 62% year on year reduction in net loss to US$ 22.4 million (US$ 58.4 million)
- Year on year reduction in basic loss per share to US$ 0.13 (US$ 0.53)
THIRD QUARTER HIGHLIGHTS
- Group net sales up 37% year on year to US$ 42.4 million (31.1 million)
- Group EBITA operating losses reduced by 61% year on year to US$ 8.1 million (US$ 20.8 million)
- 86% year on year reduction in cash flow used by operations to US$ 3.5 million (US$ 24.0 million)
- 97% reduction in group net losses to US$ 0.7 million (US$ 25.2 million)
- All 26 editions report combined EBITA profit of US$ 0.9 million in September
- Leading French and European broadcaster announced agreement to acquire 34.3% stake in Metro France for cash consideration of Euro 12 million
- Net proceeds of US$ 26.4 million received from over-subscribed rights issue
- Conversion of US$ 136.8 million of interest bearing loans into equity - Expansion into new cities in Spain and South Korea
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