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TALENTUM OYJ'S FINANCIAL STATEMENT RELEASE 2013

February 11, 2014

Helsinki, Finland, 2014-02-12 07:30 CET (GLOBE NEWSWIRE) -- TALENTUM OYJ FINANCIAL STATEMENT RELEASE 12 February 2014 at 8.30 a.m. Talentum Oyj’s Financial Statement Release for January-December 2013: MAGAZINE BUSINESS FINLAND MADE A GOOD RESULT, RESTRUCTURING IN SWEDEN CONCLUDED October-December 2013 in brief - Talentum Group's net sales totalled EUR 22.1 million (EUR 22.5 million) - Operating income without non-recurring items was EUR 3.1 million (EUR 2.4 million) and operating income (EBIT) was EUR 1.6 million (EUR 2.6 million) - Operating income from Magazine Business Finland continued to develop well and increased compared to previous year - Operating income from the Event Business increased compared to previous year - Operating income without non-recurring items from Magazine Business Sweden became profitable in the final quarter. The restructuring in Sweden caused a non-recurring item of EUR 1.5 million. - The amount of advertising revenue in Talentum's media decreased by 17.2%. The share of advertising revenue in Talentum's net sales was 26.2%. - Talentum Summa was published on 18 October 2013 and launching occurred as planned Net sales of business functions: -Magazine Business Finland: EUR 6.9 million (EUR 7.2 million) -Magazine Business Sweden: EUR 5.7 million (EUR 6.6 million) -Event Business: EUR 4.1 million (EUR 3.1 million) -Books and Legal Training: EUR 3.3 million (EUR 3.5 million) -Direct Marketing: EUR 2.8 million (EUR 3.0 million) January-December 2013 in brief - Talentum Group's net sales totalled EUR 75.6 million (EUR 77.2 million) - Operating income without non-recurring items was EUR 3.1 million (EUR 2.4 million) and operating income (EBIT) was EUR 1.4 million (EUR -0.5 million) - All in all, 2013 was a good year for Magazine Business Finland. Operating income increased significantly compared to previous year. - Operating income from the Event Business remained at the previous year’s level despite the good operating income in the final quarter - Operating income without non-recurring items from Magazine Business Sweden remained slightly unprofitable mainly due to the weak performance in the first half of the year - The amount of advertising revenue in Talentum’s media decreased by 18.3%. The share of advertising revenue in Talentum's net sales was 27.3%. -Circulation revenue increased by 2.9% in Finland and decreased slightly in Sweden Net sales of business functions: -Magazine Business Finland: EUR 26.4 million (EUR 27.3 million) -Magazine Business Sweden: EUR 19.9 million (EUR 23.1 million) -Event Business: EUR 12.6 million (EUR 11.0 million) -Books and Legal Training: EUR 8.1 million (EUR 8.4 million) -Direct Marketing: EUR 11.6 million (EUR 11.2 million) The Board of Directors proposes that a dividend in the amount of EUR 0.04 to be distributed for 2013 (for 2012 funds were distributed from the invested non-restricted equity reserve of EUR 0.03 per share). KEY FINANCIAL FIGURES EUR million 10-12 2013 10-12 2012 1-12 2013 1-12 2012 Net sales 22.1 22.5 75.6 77.2 Operating income without 3.1 2.4 3.1 2.4 non-recurring items as % of net sales 14.0 10.8 4.0 3.1 Operating income 1.6 2.6 1.4 -0.5 as % of net sales 7.4 11.4 1.8 -0.7 Income before taxes 2.0 2.7 1.6 -1.2 Net cash from operating activities 3.5 1.0 Total assets 49.7 55.1 Investments 0.3 0.3 1.6 1.6 as % of net sales 1.4 1.2 2.1 2.1 Return on invested capital % 3.2 -8.3 Return on equity % 6.0 -2.3 Equity ratio, % 47.7 47.7 Gearing ratio, % (net debt to 2.5 5.6 equity) Interest-bearing liabilities 4.8 4.6 Net interest-bearing liabilities 0.5 1.1 Personnel on average 760 754 Earnings per share, EUR 0.03 0.06 0.03 -0.01 Cash flow from operating 0.08 0.02 activities per share, EUR Equity per share, EUR 0.43 0.45 Talentum’s business operations are divided into six segments: Magazine Business Finland, Magazine Business Sweden, Event Business, Books and Legal Training, Direct Marketing and Other Activities. Chief Executive Officer Aarne Aktan: "All in all, business developed relatively well in the final quarter. The general media market continued to be characterised by weak development in terms of both advertisement and circulation sales. Compared to the previous year, we improved fourth-quarter operating income in the Magazine Business Finland and Event Business segments. In other segments, operating income weakened compared to the reference period. In October–December, the Finnish advertising market for periodicals decreased by 10.5 per cent. The Swedish advertising market for professional journals decreased by 21.5 per cent in October–December. Magazine Business Finland continued to perform well also in the final quarter. Net sales decreased by three per cent. However, profitability improved from the comparative period. Product advertising sales remained at the comparative period's level in Finland, which was a reasonable achievement in the current market situation. Recruitment advertising continued to decrease in Finland. In the final quarter, net sales and profitability from the Event Business segment improved from the comparative period. In November, Tapio Teppo was appointed new director of the Event Business segment. He assumed the role on 1 February 2014. Magazine Business Sweden performed satisfactorily in the final quarter. In Sweden, advertising sales continued to decrease from the comparative period. During the final quarter, we performed major restructuring in Sweden. Its effects will be reflected in cost level as of second quarter of 2014. The restructuring caused EUR 1.5 million of non-recurring costs for the final quarter. Restructuring in Sweden is concluded. Net sales and profitability from the Books and Legal Training segment decreased slightly from the comparative period. Also net sales and profitability from the Direct Marketing segment decreased slightly from the comparative period. Talentum's digital service package – Talentum Summa –combines Talentum's magazines, websites and business literature into one content service. Event contents will also be added to the service at a later stage. Summa was published in Finland on 18 October 2013, next step is to publish corresponding service also in Sweden. Summa was launched as planned and has been received well. In the final quarter, we also launched a new magazine – Tekniikan Historia. Furthermore, we acquired the Tietokone magazine from Sanoma Magazines. The magazine was handed over to us on 1 January 2014.” Talentum’s prospects for 2014 Talentum estimates that its comparable net sales for 2014 will remain approximately at the same level as in 2013 and that its comparable operating income without non-recurring items will be higher than in 2013. The Board of Directors’ motion concerning distribution of profits The parent company’s distributable profits as of 31 December 2013 comprise invested non-restricted equity of EUR 52,942,876.08, treasury shares of EUR -2,404,734.30 and EUR 3,195,238.27 of retained earnings, of which the profit for the financial period is EUR 2,393,963.20, totalling EUR 53,733,380.05. The Board of Directors proposes that a dividend in the amount of EUR 0.04 to be distributed for 2013 (for 2012 funds were distributed from the invested non-restricted equity reserve of EUR 0.03 per share). Annual General Meeting Talentum Oyj’s Annual General Meeting will be held on 27 March 2014 at 2.00 p.m. in Helsinki. General statement The forecasts and estimates presented here are based on the management’s current view of economic development, and the actual results may differ substantially from what is now expected of the company. Financial information 2014 Talentum is planning to publish the results in 2014 as follows: January-March result 24 April 2014 January-June result 17 July 2014 January-September result 23 October 2014 Briefing A briefing in Finnish will be held for analysts and the media on 12 February 2014 at 11.00 a.m. in Sokos Hotel Vaakuna, Asema-aukio 2, 00100 Helsinki. TALENTUM OYJ Board of Directors ADDITIONAL INFORMATION CEO Aarne Aktan, tel. +358 40 342 4440 and CFO Niclas KÖhler, tel. +358 40 342 4420 DISTRIBUTION NASDAQ OMX Helsinki Principal media www.talentum.com Copyright © 2014 OMX AB (publ).


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Source: OMX


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