Eniro adds directory in Tampere in Finland
In November 2001, Eniro acquired the Direktia directory operations from the Finnish telecom operator Elisa. In conjunction with the acquisition, Eniro obtained a declaration by which the company was given the opportunity to acquire the directory operations in Tampere, Finland's second largest city with a population of some 200,000 persons. As part of strengthening Eniro's position in existing markets, the Group is now taking over the Tampere directory, which is published annually during the first quarter. The acquisition is planned to be completed during the fourth quarter of 2002. During 2003, the acquisition is expected to contribute about EUR 5.0 M (SEK 45.8 M) to Eniro's revenues, with an operating profit before amortization of goodwill (EBITDA) of EUR 3.0 M (SEK 27.5 M). The acquisition will have no P&L impact in 2002. The purchase price, which is paid in cash, equals the goodwill that will arise from the transaction and amounts to EUR 23.5 M (SEK 215 M). Goodwill depreciation is expected to be tax deductible. The acquisition is subject to approval by the competition authorities. Overall, Eniro is the leading player in directional media in Finland, with strong positions in both offline and online segments. Eniro's position is further strengthened by the fact that it is now responsible for the publication of the official yellow pages directories in Finland's two largest cities, Helsinki and Tampere.