Eniro interim report January – September 2019 - translation
Eniro publishes the interim report for the first nine months 2019. The report is available on the company’s website www.enirogroup.com. This is an unofficial translation for convenience purposes only.
third quarter: july – september 2019
- Total operating revenue amounted to SEK 254 M (356), a decrease of 29%. Adjusted for divested units, the decrease was 9%.
- EBITDA amounted to SEK 2 M (60), including a capital loss of SEK 32 M. Adjusted EBITDA amounted to SEK 27 M (62). The EBITDA margin was 0.8 % (16.9%).
- Net income for the period was SEK -526 M (-21). The decrease is due to the write-down of deferred tax assets and intangible assets, as a result of time delays in the business plan.
- Earnings per ordinary share for the period were SEK -7.90 (-0.33) before and after dilution.
- Magdalena Bonde took office as President and CEO on July 17, 2019.
- The company’s share capital was reduced for a transfer to unrestricted equity of SEK 53.4 M, without cancelation of shares.
- Eniro divested the Proff companies to Asiakastieto Group Plc and UC AB, upon which a cash purchase consideration of SEK 120 M plus interest SEK 3 M was paid on the closing date, July 1, 2019.
- Eniro called for arbitration against Asiakastieto Group Plc and UC AB regarding the claim for additional purchase consideration and accrued but not paid interest.
- The Board of Directors has resolved to conduct a review of the Group’s long-term capital structure.
nine-month PERIOD: JaNUARY – september 2019
- Total operating revenue amounted to SEK 814 M (1,073), a decrease of 24%. Adjusted for divested units, the decrease was 9%.
- EBITDA amounted to SEK 54 M (169), including a capital loss of SEK 32 M. Adjusted EBITDA amounted to SEK 72 M (171). The EBITDA margin was 6.6% (15.8%).
- Net income for the period was SEK -589 M (-31).
- Earnings per ordinary share for the period were SEK -8.88 (-0.51) before and after dilution.
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Jul-Sep | Jul-Sep Jun | Jan-Sep | Jan-Sep | Oct-Sep | Jan-Dec |
| SEK M | 2019* | 2018 | 2019* | 2018 | 2018/19 | 2018 |
| Operating revenue | 254 | 356 | 814 | 1,073 | 1,134 | 1,393 |
| EBITDA | 2 | 60 | 54 | 169 | 91 | 206 |
| Adjusted EBITDA | 27 | 62 | 72 | 171 | 110 | 209 |
| Operating income | -342 | 21 | -370 | 52 | -935 | -513 |
| Net income for the period | -526 | -21 | -589 | -31 | -1,146 | -588 |
| Cash flow from operating activities | 4 | 9 | 10 | 18 | 37 | 45 |
| Interest-bearing net debt excluding convertible bond and pension obligations | -910 | -868 | -910 | -868 | -910 | -822 |
* Effects of IFRS 16 Lease is included in 2019 but not in 2018, for more information see Note 1
For more information, please contact:
Magdalena Bonde, CEO, Tel. +46 8 553 310 00, magdalena.bonde@eniro.com
Anne Langbraaten, CFO, Tel. +46 8 553 310 00, anne.langbraaten@eniro.com
This information is information that Eniro AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 20:30 a.m. CET on October 28, 2019.
Eniro is a Nordic company that helps small and medium-sized companies with digital marketing. Eniro also has a search service that aggregates, filters and presents information to help individuals find and come into contact with each other and with companies. The company has about 1,000 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk, and each week, Eniro Group’s digital services have about 5.1 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.
This document has been prepared in Swedish and translated into English. In the event of any discrepancies between the Swedish and the translation, the former shall take precedence.