Interim Report Jan-Sept 2010
2010-10-28 07:45:00
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