Cision AB (publ) - Interim report January-March 2014
Cision delivers stable revenue and strong cash flow
January - March
- Total revenue SEK 206 million (206)
- Organic growth 0% (-1%)
- Operating profit* SEK 20 million (20)
- Operating margin* 10% (10%)
- Operating cash flow SEK 42 million (21)
- Earnings per share, basic and diluted, SEK 0.75 (0.37)
*) Excluding non-recurring items, goodwill impairment and other one-time revenue items.
Comment by Cision CEO Peter Granat:
“Overall we demonstrated again in the first quarter a stabilized business to build off moving forward through additional investments in sales and marketing in 2014. We had positive organic growth in Europe and continued strong cash flow for the Group. We also continued to see good momentum in our core CisionPoint subscription and professional service business. Since the effects of the US print monitoring divestment are finally behind us, we can now turn our focus to organic growth.
We continue to face the challenges of a declining US broadcast transactional business as well as the Canadian division which has not made the complete transformation to a “digital first” business. We are combatting those declines with investments in our product and sales teams to continue to meet the shifting needs of PR and marketing professionals.
Our latest release of CisionPoint contains enhancements to both our social media and content marketing products to increase user adoption and provide a complete end to end solution for earned media campaigns. We also launched a new website in the US that will be rolled out across all countries over the next several months. The new mobile-friendly website provides users an intuitive experience that makes it easy to find information and execute successful campaigns.
In February, Blue Canyon Holdings announced a public offer to purchase all shares of Cision and as of April 25, they controlled 71.9% of the shares and votes of Cision. The offer corresponds to an enterprise value for Cision amounting to SEK 909 million. We remain committed to executing our strategic objectives and look forward to returning to organic growth in 2014.”
For further information, please contact:
Peter Granat, President and CEO, phone 46 (0)8 507 410 11
Charlotte Hansson, 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 29, 2014.
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 Stockholm Stock Exchange with revenue of approx. SEK 0.9 billion in 2013. For more information, visit www.cision.com.