Cision AB (publ) - Interim report January-March 2013
Continued focus on subscription growth
- Revenue SEK 204 million (239)
- Negative currency effects on total revenue of SEK 10 million
- Organic growth -2% (2%)
- Operating profit excluding non-recurring items SEK 20 million (29)
- Operating profit SEK 12 million (29)
- Operating margin 9.7% (12.1%)
- Operating cash flow SEK 21 million (24)
- Earnings per share, basic and diluted, SEK 0.37 (1.45)
Note: 2012 figures include US print monitoring business which was divested in June 2012.
Group comparative figures for prior periods have been restated, see appendix 1.
Comment by Cision CEO Peter Granat:
“As we indicated last year, maintaining our 2012 growth momentum into 2013 has proven difficult due to the short term impact of divesting our US print monitoring business. The unwinding of this 81 year old legacy business, coupled with bundled customer contracts, has resulted in a challenge to streamline our customer offerings and adjust internal processes. Despite these challenges we have made excellent progress as a result of the investments in sales and marketing and our ongoing efforts to reduce cost, allowing us to continue to grow our core subscription platform business. The first quarter results are a reflection of the divestment of the US print monitoring business and some resulting one–time costs affecting the operating margin. With this behind us, I remain optimistic about the future as we continue our transformation from print to digital media. We have already begun to implement plans to further reduce costs in the second quarter to better position the business for the second half of the year and we are currently conducting a strategic review of the business and we will communicate our intentions during the second quarter. I believe Cision is well positioned to meet the shifting demands of our customers driven by social media and will be the leading digital content marketing software platform for the PR industry. This shift, together with our plans for new product releases in the second half will increase customer demand for subscriptions to our CisionPoint platform and bundled media information services.”
For further information, please contact:
Peter Granat, President and CEO, phone 46 (0)8 507 410 11
Tosh Bruce-Morgan, CFO, telephone 46 (0)8 507 410 11
Cision AB (publ)
P.O. Box 24194
SE-104 51 Stockholm, Sweden
Corp Identity No. SE556027951401
Telephone: 46 (0)8 507 410 00
Cision AB is required to disclose the information in this interim report under Sweden’s Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 8:30 a.m. CEST on April 23, 2013.
Cision is a leading provider of cloud-based PR software, services and tools for the marketing and public relations industry. Marketing and PR professionals use our products to help manage all aspects of their brands – from identifying key media and influencers to connecting with audiences; monitoring traditional and social media; and analyzing outcomes. Journalists, bloggers, and other influencers use Cision’s tools to research story ideas, track trends, and maintain their public profiles. Cision is present in Europe, North America and Asia, is quoted on the Nordic Exchange with revenue of approx. SEK 1.0 billion in 2012. For more information, visit www.cision.com.