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Interim Report Jan-Sept 2010

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Developments in the third quarter July – September, 2010

  • Operating cash flow for the first nine months amounted to SEK 313 M (562)
  • Net debt decline of SEK 507 M from year-end 2009
  • The Board has resolved a SEK 2.5 bn fully underwritten rights offering, subject to approval by the EGM (see separate press release)
  • New agreement with lending banks secured to the end of 2014, subject to completion of the rights issue
  • Eniro’s chairman Lars Berg has today informed the Nomination Committee that he will not be available for re-election at the upcoming Annual General Meeting held 20 April, 2011. Lars Berg will continue in his role until the AGM
  • During the quarter Eniro launched its new improved website including product search functionality (Eniro 2.0)
  • Operating revenues in Q3 amounted to SEK 1,135 M (1,500), down by 24 percent Y/Y, corresponding to an organic decline of 17 percent. The organic revenue decline for the first nine months was 12 percent
  • Operating costs reduced by approximately SEK 285 M (excluding currency effects) for the first nine months 2010
  • EBITDA amounted to SEK -371 M (404), and included one-off negative effects of SEK -647 M following divestment and restructuring of online- and offline assets in Finland
  • Adjusted EBITDA1 of  SEK  245 M (438)
  • Impairment of intangible assets of SEK 4,261 M mainly attributable to  the Norwegian operations within Directories Scandinavia
  • Net income of SEK -4,666 M (-200), mainly affected by impairment of intangible assets

For further information, please contact:

Johan Lindgren, President and CEO
Tel: 08-553 310 01 

Jan Johansson, CFO
Tel: 08-553 310 15, 070- 575 89 72 

Birgitta Henriksson, Acting Head of IR
Tel: 08-553 315 29, 072-220 83 29 

Eniro AB (publ)
169 87 Stockholm
Org nr 556588-0936 

www.eniro.com

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 4,600 employees in the Nordic region and Poland and has been listed on Nasdaq OMX Stockholm since 2000. Headquarters are located in Stockholm, Sweden. More on Eniro at www.eniro.com.

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