Eniro’s interim report half year January – June 2017 -      key ratios included in the press release

Eniro publishes the interim report for the second quarter 2017. The report is available on the company’s website www.enirogroup.com. 

HaLF YEAR: JANUARy–JUNE 2017

  • §  Total operating revenue amounted to SEK 856 M (1,000), a decrease of 14%.
  • §  EBITDA decreased by 63% to SEK 94 M (252). The EBITDA margin was 11.0% (25.2%).
  • §  Net income for the period was SEK -104 M (-854).
  • §  Earnings per ordinary share for the period were SEK -0.22 (-1.84) before and after dilution.

SECOND quarter: APRIL–JUNE 2017

  • §  Total operating revenue amounted to SEK 426 M (496), a decrease of 14%.
  • §  EBITDA decreased by 66% to SEK 39 M (116). The EBITDA margin was 9.2% (23.4%).
  • §  Net income for the period was SEK -42 M (-852).
  • §  Earnings per ordinary share for the period were SEK -0.08 (-1.80) before and after dilution.
  • §  The 2017 Annual General Meeting resolved in favor of the recapitalization plan, in accordance with the Board’s recommendation.
  • §  The 2017 Annual General Meeting resolved that no dividend shall be paid, neither for the ordinary nor preference shares.  
  • §  The prospectus, ”Offer to holders of preference shares and convertibles in Eniro AB (publ),” was published on June 9.

 EVENTS AFTER THE END OF THE REPORTING PERIOD

  • §  On July 27 Eniro announced the acceptance level and extended the acceptance period for the exchange offers until August 25, 2017. As per July 27 the exchange offers had been accepted by preference shareholders with a total holding corresponding to approximately 73% of all outstanding preference shares and by holders of convertible loans with a total holding corresponding to approximately 57% of the outstanding nominal value of the convertible loans in Eniro. A group of larger holders of convertible loans, corresponding to approximately 23% of the total outstanding convertibles, are waiting with acceptance of the exchange offers and have started discussions about complementing the recapitalization by underwriting the issue of SEK 275 M. The group of convertible holders intends to make available SEK 100 M provided that Eniro’s lending banks agree to further adjustments of the interest rate and rate of repayment of Eniro’s bank loans. In order to complete these discussions, Eniro has decided to extend the acceptance period for the exchange offers until August 25, 2017.
  • §   

 

Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jul-Jun Jan-Dec
SEK M 2017 2016 2017 2016 2016/17 2016
Operating revenue 426 496 856 1,000 1,823 1,967
EBITDA 39 116 94 252 270 428
Adjusted EBITDA 66 118 128 237 331 440
Operating income -16 -810 -61 -729 4 -664
Net income for the period -42 -852 -104 -854 -112 -862
Cash flow from operating activities -6 59 4 124 97 217
Interest-bearing net debt excluding convertible bond and pension obligations -1,248 -1,210 -1,248 -1,210 -1,248 -1,217

A web-cast telephone conference will be held at 10:00 CET, where CEO and President Örjan Frid and CFO Fredrik Sandelin will present the results for the second quarter 2017. A possibility will be given to ask questions via the webcast and to follow the presentation material live. The webcast, which afterwards also will be available on demand, will be accessible at https://tv.streamfabriken.com/eniro-q2-2017. 

To participate in the conference call, please call one of the following numbers:

SE: +46 (0) 8 5664 2694 or

UK: +44 (0) 20 3008 9807

The presentation material will be published before the conference starts on Eniro’s website, www.enirogroup.com under Investor Relations. The webcast, and later the recorded version of the webcast and the conference call, will also be accessible via Eniro’s website. 

 
For more information, please contact:

Örjan Frid, President and CEO, Eniro, tel. +46-70 561 1615

This information is information that Eniro AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 09.45 on August 15, 2017.

Eniro is a leading search company for individuals and businesses in the Nordic region. Eniro Group has approximately 1,700 employees. The company is listed on Nasdaq Stockholm [ENRO], with approximately 14,000 shareholders at present and is headquartered in Kista, Stockholm. More on Eniro at enirogroup.com, twitter.com/eniro, facebook.com/eniro.

Detta pressmeddelande finns tillgängligt på svenska på www.enirogroup.com/sv/pressmeddelanden.

About Us

Eniro is a search company that aggregates, filters and organizes local information. Our growth is driven by users’ increasing mobility and multiscreen behavior, where we are at the forefront with modern technical solutions. For more than 100 years Eniro has helped people find local information and companies find customers. Today it is a multiscreen solution – our users search for information using their smart phones, tablets and desktops. Mobile advertising is today the fastest growing part of Eniro’s business. Eniro is the local search engine. A smart shortcut to what you need, no matter where you are or where you are going. Eniro is one of the largest search companies in the Nordic region and Poland. The company has approximately 2,000 employees and has been listed on NASDAQ Stockholm since 2000. During 2014, Eniro revenues amounted to SEK 3,002m and EBITDA was SEK 631m. Approximately 88 percent of Eniro advertising revenues come from multiscreen channels. The company’s headquarters are located in Stockholm, Sweden. More on Eniro at www.enirogroup.com. Eniro – Discover local. Search local.

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