Financial results for the second quarter and six months ended 30 June 2003
FINANCIAL RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED 30 JUNE 2003 Luxembourg, 24 July 2003 - Metro International S.A. ("Metro") (MTROA, MTROB), today announced its financial results for the second quarter and six months ended 30 June 2003. REMOVED GRAPHICS QUARTERLY HIGHLIGHTS · All newspaper editions report first combined quarterly operating profit of US$ 1.2 million · US$ 2.2 million of cash flow generated by the Group · Group operating losses reduced year on year by 73% to US$ 3.2 million · Group net sales up 44% year on year to US$ 53.1 million · Hong Kong reaches operating profitability in June · France operating losses more than halved year on year to under US$ 2.0 million, of which 56% was incurred in April · Rest of Europe segment of 12 editions reports first combined quarterly operating profit of US$ 0.2 million · 10 operations profitable in second quarter and 7 additional operations report monthly operating profits · US$ 8.3 million of bank debt retired through scheduled amortization · SEK 252 million rights issue and SEK 1,151 million debt for equity conversion transaction underway 24 July 2003 11 Boulevard royal, l-2449, Luxembourg The Board of Directors of Metro International S.A. For further information, please visit www.metro.lu, email info@metro.lu or contact: Pelle Törnberg, President & CEO tel: +44 (0) 20 7016 1300 Matthew Hooper, Investor & Press Relations tel: +44 (0) 20 7321 5010 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00750/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00750/wkr0002.pdf The full report