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FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED 30TH SEPTEMBER 2009

19 October 2009

Luxembourg, 19th October, 2009 - Metro International S.A. ("Metro International" or the "Group") (MTROA, MTROB), today announced its financial results for the third quarter ended 30th September 2009. Information was submitted for publication on 19th October, 2009 at 8:00 A.M. CET.

THIRD QUARTER HIGHLIGHTS

  • Net revenues declined year-on-year by 8 percent in the third quarter adjusting for currency movements, closed and divested operations. Total net revenues decreased year-on-year in the third quarter by 26 percent to € 42.5 million (2008: € 57.0 million).
  • The operating loss excluding closed and divested operations was € 4.6 million in the third quarter (2008: operating loss of € 8.7 million excluding closed and divested operations). The total operating loss was € 5.1 million (2008: operating loss of € 13.4 million).
  • The net loss for the third quarter was € 8.6 million (2008: profit of € 22.2 million[1]).
  • Operating costs declined year-on-year in the third quarter by 15 percent adjusting for currency movements and closed and divested operations. Costs incurred at headquarters declined year-on-year by 22 percent in the third quarter.
  • In July, Metro Italy was fully divested to New Media Enterprises S.r.L.. The transaction is estimated to have a one-off positive cash flow impact for Metro International of approximately € 0.7 million in 2009.  
  • In July, the Group announced that it had entered into a franchise agreement in Ecuador with the leading media group Grupo Hoy and re-launched the existing free newspapers in Quito and Guayaquil under Metro International's global newspaper format. The Group acquired a 15 percent shareholding in the venture.
  • In September, the Group's operation in Hungary entered into a sales partnership with Axel Springer and implemented several structural changes for the purpose of improving the financial performance of the Hungarian operation.
  • The basic and diluted net loss per share for the third quarter was € 0.014 (2008 basic and diluted net profit per share: € 0.045).

FIRST NINE MONTHS RESULTS

  • Total net revenues decreased year-on-year by 11 percent during the first nine months adjusting for currency movements, closed and divested operations. Total net revenues decreased year-on-year by 25 percent to € 158.7million (2008: € 211.9 million).
  • The operating loss during the first nine months, excluding closed and divested operations was € 12.3 million (2008: loss of € 7.0 million). The total operating loss was € 22.8 million (2008: loss of € 18.4 million).
  • The net loss in the first nine months was € 27.5 million (2008: profit of € 13.8 million[2]).
  • Operational costs during the first nine months declined by 8 percent adjusting for currency movements and closed and divested operations.
  • Metro International recorded during the first nine months a basic and diluted net loss per share of € 0.048 (2008: basic and diluted net profit per share € 0.031).

[1] Ibid.

[2] Including profit of € 37.5 million on sale of shares in Metro Sweden.

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, 19th October 2009 at 10.00 A.M. CET.

To participate in the conference call, please dial in on the following numbers:

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:

DATE OF NEXT REPORT

Metro's financial results for the fourth quarter ended 31st December 2009 will be published on 4th February 2009.

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.

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