Revised 2008 full year market outlook

Following lower banner sales and lower sales in Finland, operational EBITDA for the full year 2008 is estimated to be up to 2 percent below the lower end of the former market outlook range of SEK 2,050 – 2,100 million.

Eniro’s core directory business has developed as planned during the second half of this year. However, banner sales and other none core directory products have developed below expectations in the end of the year. Also, sales in Finland have been lower than expected. As a consequence, Eniro has revised the 2008 full year market outlook, but remains committed to the long-term strategy presented at the Capital Markets Day in November. Actions have already been taken; the new management in Finland is looking into the situation and at group level there is an overall review of the cost structure.

“As we have earlier stated, our business is more resilient than many other media companies, but we are not immune. There are clear changes in the macroeconomic environment and the outlook for 2009 is more uncertain than earlier so while we implement the new strategy, we will balance between accelerating where possible and using the brakes where needed. Among our measures to meet the increased uncertainty is an overall review of our costs”, says Jesper Kärrbrink CEO and President of Eniro.

The full year report will be presented on February 18, 2009.