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Metro International S.A. is a Luxembourg limited-liability company
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FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 31ST MARCH 2009
20 April 2009
Luxembourg, 20th April, 2009 - Metro International S.A. ("Metro International" or the "Group") (MTROA, MTROB), today announced its financial results for the first quarter ended 31st March 2009. Information was submitted for publication on 20th April, 2009 at 8:00 A.M. CET.
FIRST QUARTER HIGHLIGHTS
- Total net revenues decreased year-on-year in the first quarter by 24 percent to € 55.6 million (2008: € 73.4 million). Net revenues declined by 19 percent excluding Metro Spain that was closed in January 2009 and by 17 percent when adjusting for foreign currency movements.
- The operating loss excluding Spain was € 10.1 million in the first quarter. The total operating loss was € 14.7 million (2008: operating loss of € 5.6 million).
- The net loss for the first quarter was € 15.3 million (2008: loss of € 6.4 million).
- Operating costs declined year-on-year in the quarter by 14 percent to € 40.3 million (2008: € 46.6 million). Further cost-savings were implemented in the fourth quarter 2008 and in the first quarter 2009 will have full effect from the second quarter 2009 and onwards.
- Costs incurred at headquarters declined year-on-year by 23 percent in the first quarter to € 4.4 million (2008: € 5.7 million).
- In March, Metro launched in Moscow with an approximate circulation of 500,000 daily copies.
- Overall readership increased year-on-year by 12 percent for the Group.
- The net loss per share for the first quarter was € 0.03 (2008: loss of € 0.01).
DISCUSSIONS WITH POTENTIAL BIDDER TERMINATED
- Metro International has earlier today announced that the discussions with a potential bidder have been terminated. The Board of Directors of Metro International will therefore continue with the new issue of Swedish Depository Receipts ("SDRs") over subordinated debentures and over warrants with preferential rights for existing holders of SDRs.
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, 20th April 2009 at 10.00 A.M. CET.
To participate in the conference call, please dial in on the following numbers:| Sweden | Tel: +46 (0)8 505 598 53 |
| UK / International | Tel: +44 (0)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: +44 (0)20 7016 1300 |
| Anders Kronborg, CFO | tel: +44 (0)79 12 540 800 |
| Ingrid Selden, IR contact | tel: +44 (0)77 25 245 881 |
DATE OF NEXT REPORT
Metro's financial results for the second quarter ended 30th June 2009 will be published on 20th July 2009.
Metro International's 2008 annual report will be published by end of April 2009 and will be on Metro International's website www.metro.lu
METRO INTERNATIONAL S.A. ANNUAL GENERAL MEETING 2009
The 2009 Annual General Meeting will be held on 26th May 2009 in Luxembourg. Shareholders wishing to have matters considered at the Annual General Meeting should submit their proposals in writing to agm@metro.lu or to the Company Secretary, Metro International S.A, 2-4 Avenue Marie-Therese, P.O. BOX 285, L-2132 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.
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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 18 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.