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Metro International S.A. is a Luxembourg limited-liability company
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RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED 31st DECEMBER 2009
4 February 2010
"Metro's best quarter ever!"
Luxembourg, 4th February, 2010 - Metro International S.A. ("Metro International" or the "Group") (MTROA, MTROB), today announced its financial results for the fourth quarter ended 31st December 2009. Information was submitted for publication on 4th February, 2010 at 8:00 A.M. CET.
FOURTH QUARTER HIGHLIGHTS
- Net revenues declined year-on-year by 2 percent in the fourth quarter adjusting for currency movements, closed and divested operations. Total net revenues decreased year-on-year by 26 percent to € 61.5 million (2008: € 83.5 million).
- The total operating profit in the fourth quarter was € 9.3 million (2008: total operating loss of € 1.6 million). Excluding closed and divested operations the operating profit was 9.3 € million (2008: operating profit of € 0.9 million).
- The net profit in the fourth quarter was € 5.9 million (2008: loss of € 9.8 million).
- Operating costs declined year-on-year in the fourth quarter by 13 percent adjusting for currency movements, closed and divested operations. Costs incurred at headquarters declined year-on-year by 27 percent.
- The basic net profit per share for the fourth quarter was € 0.011 and diluted profit per share was € 0.004 (2008: basic and diluted loss per share of € 0.015).
FULL YEAR RESULTS
- Net revenues decreased year-on-year by 7 percent for the full year adjusting for currency movements, closed and divested operations. Total net revenues decreased year-on-year by 25 percent to € 220.2 million (2008: € 295.5 million).
- The total operating loss for the full year was € 13.4 million (2008: loss of € 19.9 million). Excluding closed and divested operations the operating loss was € 3.0 million (2008: loss of € 6.0 million).
- The net loss for the full year was € 21.7 million (2008: profit of € 4.1 million[1]).
- Operating costs for the full year declined by 8 percent adjusting for currency movements, closed and divested operations. Costs incurred at Headquarters declined year-on-year by 23 percent.
- The basic and diluted net loss per share for the full year was € 0.04 (2008: basic and diluted profit per share of € 0.017).
[1] Including profit of € 37.3 million on sales of shares in Metro Sweden to Schibsted and acquisition of 24 Timer from JP/Politiken
Per Mikael Jensen, President and CEO of Metro International, said: "The last quarter of 2009 proved to be a success for Metro newspapers around the world. We managed to deliver the highest profits in a single quarter ever, despite the world economy still recovering from the financial crisis. I am grateful to all our employees and managers who have proven that Metro's business model is adaptable to changes in the economic climate. We want to continue to keep costs low for 2010 whilst working hard to increase revenues. We enter 2010 with a stronger market position in most of our markets."
CONFERENCE CALL
Metro International will host a conference call today at 10.00 A.M. CET which will be broadcast live on the internet and as a conference call.
Participants can take part in the call either through the audiocast or the conference call.
To view the Internet Audiocast:
A live audiocast of the presentation will be available on www.metro.lu, 4th February 2010 at 10.00 A.M. CET.
To participate in the conference call, please dial in on the following numbers:
Sweden | Tel: +46 8 505 598 53 |
UK / International | Tel: +44 20 304 324 36 |
US free phone number | Tel: +1 866 458 40 87 |
Conference call participants can access the presentation slides on http://www.metro.lu/node/79.
For those unable to listen to the live broadcast, a replay will be available at Metro's website www.metro.lu approximately one hour after the event.
For further information, please visit www.metro.lu or contact:
Per Mikael Jensen, CEO and President | Tel: +46 8 1205 7000 |
Anders Kronborg, CFO | Tel: +44 79 1254 0800 |
Linda Fors, Head of IR | Tel: +46 704 315 351 |
DATE OF NEXT REPORT
Metro's financial results for the first quarter ended 31st March 2010 will be published on 19th April 2010.
METRO INTERNATIONAL S.A ANNUAL GENERAL MEETING 2010
The 2010 Annual General Meeting will be held on 11am, 27th May 2010 in Luxembourg. Shareholders wishing to have matters considered at the Annual General Meeting should submit their proposals in writing to agm@metro.lu or the Company Secretary, Metro International S.A. 2-4, avenue Marie-Therese, L-2132 Luxembourg, Grand Duchy of Luxembourg at least seven weeks before the Annual General Meeting, in order that the proposal may be included in the notice to the meeting. Further details on how and when to register will be published in advance of the meeting.
NOMINATION COMMITTEE FOR THE 2010 ANNUAL GENERAL MEETING
A Nomination Committee of major shareholders in Metro International has been formed in accordance with the resolution of the 2009 Annual General Meeting, The Nomination Committee is comprised of Cristina Stenbeck on behalf of Investment AB Kinnevik, Marianne Nilsson on behalf of Swedbank Robur and Annika Andersson on behalf of the 4th AP Fund.
Information about the work of the Nomination Committee can be found on Metro International's corporate website at www.metro.lu.
Shareholders wishing to propose candidates for election to the Board of Directors of Metro International S.A. should submit their proposal in writing to agm@metro.lu or to the Company Secretary, Metro International S.A, 2-4, avenue Marie-Therese, L-2132 Luxembourg, Grand Duchy of Luxembourg.
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ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published in over 100 major cities in 19 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated Metropolitan audience of 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB.