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Eniro, Year-end report 2011

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Eniro’s cash flow increased by SEK 307 M in the fourth quarter and an extra loan payment of SEK 150 M will be made in the first quarter 2012

Fiscal year 2011

  • In line with previously communicated forecasts, operating revenues totaled SEK 4,323 M (5,326), an organic decline of 11 percent
  • Online revenues rose 1 percent, and the largest market, Sweden, rose 9 percent
  • EBITDA amounted to SEK 991 M (605), equal to an EBITDA margin of 23 percent (11)
  • Operating cash flow for the year amounted to SEK 230 M (151)
  • Cost savings amounted to SEK 458 M (435)
  • Earnings per share for the period were SEK -2.13 (-248.43)
  • Net debt declined to SEK 3,675 M (3,951)

Fourth quarter: October – December 2011

  • Operating revenues, seasonally impacted by a high proportion of printed directories, totaled SEK 1,194 M (1,482), down 16 percent organically.
  • Online revenues declined 5 percent. The development in the quarter was effected by a correction of accrued revenues. The online revenues were unchanged, excluding for the correction.
  • EBITDA amounted to SEK 319 M (409), equal to an EBITDA margin of 27 percent (28)
  • Earnings per share for the period were SEK 1.25 (5.85)
  • Operating cash flow rose by SEK 469 M to SEK 307 M (-162)
  • The covenants of the loan agreement were fulfilled

Events in the fourth quarter

  • Eniro acquired specific assets in De Gule Sider in Denmark
  • Eniro and Google signed a strategic co-operation agreement
  • Eniro signed a letter of intent to purchase the directory assistance service 118 800
  • Eniro Norway is concentrating its operations and will phase out the Gule Sider directory in 2012

After the close of the period

  • Eniro aims to make loan payments of SEK 650 M in 2012, of which SEK 150 M will comprise an extra repayment of loans in the first quarter and SEK 500 M in contractual loan payments

For more information, please contact:
Johan Lindgren, President and Chief Executive Officer, Ph: +46 (0)8-553 310 01
Mattias Lundqvist, CFO, Ph: +46 (0)8-553 310 04
Cecilia Lannebo, Head of Investor Relations, Ph: +46 722 208 277, e-mail: cecilia.lannebo@eniro.com

This Press Release contains information that Eniro AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act.

Eniro is the Nordic region’s largest search company. Both consumers and companies can use Eniro’s services to easily locate where to buy services and products – regardless of whether the channel is internet, catalog or mobile. Advertisers can actively market themselves to interested consumers, find new customers and increase sales. Better search means better business.

Eniro has 3,600 employees in the Nordic region and Poland and has been listed on Nasdaq OMX Stockholm since 2000. During 2011, Eniro’s revenues amounted to SEK 4,323 M and EBITDA was
SEK 991 M. Headquarters are located in Stockholm, Sweden. More on Eniro at www.eniro.com

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