Eniro to sell Russian operations

Eniro is divesting all operations in Russia as part of the company’s strategic focus and geographic concentration to its core markets in the Nordic countries and Poland.

Eniro’s operations in Russia are being sold to a newly incorporated subsidiary of Vostok Nafta Investment Ltd. The purchase price amounts to EUR 5 M i.e. approximately SEK 47 M (cash and debt free). The sale, which includes all of Eniro’s legal entities in Russia, is subject to approval by the Russian antimonopoly authorities and is expected to be concluded during November 2005. The sale is not expected to generate any material capital earnings.

Eniro has been active in the Russian market through its directory Yellow Pages Moscow® in Moscow and regional directories in St Petersburg and other major cities under the Kontakt!® brand. In addition, Eniro Russia publishes a national B2B directory under the Navigator brand and offers national, directory-based Internet services. Eniro’s Russian operations reported sales of some SEK 64 M in 2004 with an operating profit before depreciation (EBITDA) of about SEK 2 M. At June 30, the number of employees was 432.

The capital earnings on sales and the operating income from the divested units until completion of the sales, are reported in Eniro’s consolidated income statement under the heading “Net income from discontinued operations”. In the third quarter of 2005, the capital gain on the sale of operations in the Baltic countries, which amounted to about SEK 100 M, is reported.

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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