Cision AB (publ) - Year-end report January-December 2013
Cision continues to improve cash flow
October-December
- Total revenue SEK 213 million (240)
- Gross margin 67,9% (64,8%)
- Organic growth -1% (7%)
- Operating profit 1) SEK 21 million (32)
- Operating margin 1) 9,7% (13,2%)
- Operating cash flow SEK 41 million (24)
- Earnings per share, basic and diluted, SEK 0,03 (1,91) and adjusted 1), SEK 0,54 (1,90)
January-December
- Total revenue SEK 856 million (956) including SEK 30 million insurance settlement
- Goodwill impairment SEK 325 million
- Gross margin 1) 65,9% (64,5%)
- Organic growth -2% (3%)
- Operating profit 1) SEK 73 million (102)
- Operating margin 1) 8,9% (10,7%)
- Operating cash flow SEK 179 million (100)
- Earnings per share, basic and diluted, SEK -18,56 (3,24) and adjusted 1), SEK 2,65 (6,24)
Note: 2012 figures include the effects of the restatement announced on September 19, 2013, for further details please see appendix 1. The US print monitoring business was divested in June 2012.
1) Excluding non-recurring items, other one-time revenue items and goodwill impairment as specified on page 9.
Comment by Cision CEO Peter Granat:
“As expected, growth in 2013 has been proven difficult to maintain due to the short term impact of the divestment of the US print monitoring business carried out during the second half of 2012. Revenue during 2013 has been stable quarter by quarter with a slight increase in the fourth quarter. The cash flow throughout 2013 is the best cash flow Cision has presented in recent history and has helped to reduce the net debt significantly.
With our transformation as a “digital first” business nearly complete, we continue to increase the share of revenue from subscription sales through continued investments in product development and increased user adoption. Investments have been made during the year to improve the CisionPoint architecture and we have also made significant investments in sales and marketing in the later half of 2013 which we are confident will help us grow in 2014. With our new global executive team in place, our focus for 2014 will be to effectively act on the key aspects of our business and manage our teams to meet our strategic objectives.
Social media and content marketing have elevated the role that public relations professionals play in the overall marketing mix and that presents a great opportunity for Cision. We will continue to invest in our software platform to retain our existing customer base as well as take share in the PR market. We are committed to providing our customers the tools they need to improve efficiency, increase their publicity and track their corporate reputation.
With the US print monitoring divestment behind us and improvements made to our financial processes and procedures, I am looking forward to focusing on growing our customer base in 2014 as well as offering more services to existing customers.“
For further information, please contact:
Peter Granat, President and CEO, telephone +46 (0) 8 507 410 11, e-mail: peter.granat@cision.com and Charlotte Hansson, CFO, telephone +46 (0) 8 507 410 11, e-mail: charlotte.hansson@cision.com.
Cision AB is required to disclose the information in this year-end 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 February 12, 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 campaigns – 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 NASDAQ OMX Nordic Exchange with revenue of approx. SEK 0.9 billion in 2013. For more information, visit www.cision.com.
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