Eniro aggregates local search information in the digital value chain. Mobile
search is a critical factor for Eniro’s long-term growth. The goal is to
increase mobile search revenues to SEK 900 M by 2015. To increase transparency
and better reflect the fact that digital advertising revenue represents 80% of
business today, starting with the third quarter Eniro will be reporting its
mobile revenue performance separately.
Eniro believes that mobile search revenues will continue to rise sharply, and it
is estimated that within a few years this revenue category will account for a
large share of the company’s total revenue. The goal is to increase mobile
revenues to approximately SEK 900 M by 2015. Mobile revenues in 2012 amounted to
SEK 147 M. The forecast for mobile revenues in 2013 is unchanged, i.e., a
doubling of revenues to approximately SEK 300 M. To facilitate a financial
analysis and understanding of Eniro’s future drivers of growth, starting with
the third quarter results, which will be communicated on October 23, Eniro will
report mobile revenues as a separate revenue category. A pro forma revenue
breakdown is provided below.
“Eniro is showing through continued strong mobile revenue growth that the
company can capitalize on the important mobile search channel,” comments Johan
Lindgren, President and CEO of Eniro. “I am convinced that mobile revenues will
make up a substantial share of Eniro’s total revenue in the near future. Eniro’s
development strategy is clear, and mobile is front and center.”
In addition to a split of the former Online/Mobile revenue category, a number of
terminology changes are being adopted:
Earlier reporting structure New reporting structure
Q2 2013 Q2 2013
Online/mobile 549 Desktop search 483
Mobile search 66
Media products 59 Campaign products 59
Digital revenues 608 Multiscreen revenues 608
Print 80 Print 80
Other products 21 Other products 21
Directories 709 Local search 709
Voice 184 Voice 184
Total revenues 893 Total revenues 893
Pro forma categories 2012 and first half of 2013:
Revenues by
category
2012 2012 2013
SEK M Jan Apr Jul Oct Full year Jan-Mar Apr-Jun
-Mar -Jun -Sep -Dec
Desktop search 487 514 490 486 1 977 473 483
Mobile search 26 33 38 50 147 51 66
Campaign products 54 60 52 68 234 57 59
Multiscreen 567 607 580 604 2 358 581 608
revenues
Print 172 159 142 267 740 98 80
Other products 37 37 39 19 132 26 21
Local search 776 803 761 890 3 230 705 709
Voice 183 198 187 201 769 181 184
Total revenues 959 1 00 948 1 09 3 999 886 893
1 1
Revenue by
category, organic
%
2012 2012 2013
SEK M Jan Apr Jul Oct Full year Jan-Mar Apr-Jun
-Mar -Jun -Sep -Dec
Desktop search -1 -2 -4 -4 -3 -1 -4
Mobile search 113 102 171 95 116 100 101
Campaign products 14 36 18 34 26 8 1
Multiscreen 3 4 2 5 3 4 2
revenues
Print -30 -31 -30 -36 -33 -43 -26
Other products -1 -15 16 -53 -14 -3 -11
Local search -7 -7 -6 -14 -9 -7 -2
Voice -11 -18 -17 -8 -13 -6 -11
Total organic -8 -9 -8 -13 -10 -7 -4
development
EBITDA by revenue
area
2012* 2012* 2013
SEK M Jan Apr Jul Oct Full year Jan-Mar Apr-Jun
-Mar -Jun -Sep -Dec
Total EBITDA 156 251 261 308 976 170 234
Local search 126 218 187 246 777 126 181
Voice 57 66 73 83 279 57 73
Other -27 -33 1 -21 -80 -13 -20
Items affecting
comparability
Restructuring 4 13 12 19 48 13 13
costs
Other items - -4 0 -44 -48 - -
affecting
comparability
Total adjusted 160 260 273 283 976 183 247
EBITDA
* Restated
comparison year
in accordance
with new
accounting
principle
regarding
pensions
For further information, please contact:
Johan Lindgren, CEO, Tel: +46 8 553 311 14
Mattias Lundqvist, CFO, Tel: +46 8 553 310 04
Cecilia Lannebo, Head of Investor Relations, Tel: +46 722 208 277, e-mail:
cecilia.lannebo@eniro.com
The information is such that Eniro AB (publ) is required to disclose in
accordance with the Swedish Financial Instruments Trading Act and/or the Swedish
Securities Market Act. The information was submitted for publication at 08.00
CET on September 17, 2013.
Eniro is the local search engine. A clever shortcut to what you need, at home or
away. Both consumers and companies can use Eniro’s services to easily locate
where to buy services and products – regardless of whether the channel is the
Internet, catalog or mobile. Advertisers can actively market themselves to
interested consumers, find new customers and increase sales. Eniro is one of the
largest search companies in the Nordic region and Poland. The company has
approximately 3,200 employees and has been listed on Nasdaq OMX Stockholm since
2000. During 2012, Eniro’s revenues amounted to SEK 3,999 M and EBITDA was
SEK 976 M. Headquarters are located in Stockholm, Sweden. More on Eniro at
www.enirogroup.com (http://www.eniro.com/)
Eniro – Discover local. Search local.
Target is to increase mobile revenues to SEK 900 M by 2015
| Source: Eniro AB
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