Metro International s.a. Financial results for the third quarter and nine months ended 30 september 2003
METRO INTERNATIONAL S.A. FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2003 Luxembourg, 21 October 2003 - Metro International S.A. ("Metro") (MTROA, MTROB), today announced its financial results for the third quarter and nine months ended 30 September 2003. NINE MONTHS ENDED 30 SEPTEMBER 2003 · Group net sales up 44% year on year to US$ 139.1 million (US$ 96.4 million) · 62% year on year reduction in net loss to US$ 22.4 million (US$ 58.4 million) · Year on year reduction in basic loss per share to US$ 0.13 (US$ 0.53) · THIRD QUARTER HIGHLIGHTS · Group net sales up 37% year on year to US$ 42.4 million (31.1 million) · Group EBITA operating losses reduced by 61% year on year to US$ 8.1 million (US$ 20.8 million) · 86% year on year reduction in cash flow used by operations to US$ 3.5 million (US$ 24.0 million) · 97% reduction in group net losses to US$ 0.7 million (US$ 25.2 million) · All 26 editions report combined EBITA profit of US$ 0.9 million in September · Leading French and European broadcaster announced agreement to acquire 34.3% stake in Metro France for cash consideration of 12 million · Net proceeds of US$ 26.4 million received from over-subscribed rights issue · Conversion of US$ 136.8 million of interest bearing loans into equity · Expansion into new cities in Spain and South Korea 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/2003/10/21/20031021BIT00700/wkr0001.pdf The full report