Cision AB (publ) - Interim report January-September 2013

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News Desk 2018

Oct 23, 2013 at 2:45 AM

Cision reports ongoing solid cash flow and impairment of goodwill in North America July-September · Total revenue SEK 203 million (230) · Goodwill impairment SEK 325 million · Operating profit* SEK 14 million (19) · Operating margin* 7,1% (8,1%) · Operating cash flow SEK 68 million (18) · Earnings per share, basic and diluted, SEK -21,31 (0,92) · Cision US balance sheet review completed January-September · Total revenue SEK 643 million (716) included SEK 30 million insurance settlement · Organic growth -3% (+2%) · Operating profit* SEK 52 million (71) · Operating margin* 8,6% (9,9%) · Operating cash flow SEK 138 million (75) · Earnings per share, basic and diluted, SEK -18,59 (1,33) *) Excluding non-recurring items, other one-time revenue items and goodwill impairment Comment by Cision CEO Peter Granat: “The third quarter was a difficult one for Cision. We have had the completion of a full subscription year after the divestment of our US print monitoring business and the unbundling of the related customer contracts. We completed a thorough review of the US balance sheet and announced a restatement to prior year’s retained earnings. We also made the decision to act on the carrying value of our goodwill and make a significant write down of goodwill in North America to better reflect the value of the business going forward. We are confident that one year post divestment and with the leadership changes we have made to the Cision US financial team, along with the improvements made to our financial processes and procedures, that this difficult period is behind us. My primary focus since taking over as CEO has been to reshape the business and position us for the future. To that end on August 28th we announced a new strategy including investments in sales and marketing to drive and execute on sustainable revenue growth. We also announced the launch of our new content marketing suite along with two exciting partnership relationships in support of driving new revenue. We also continue to enhance our CisionPoint software platform, most recently with our new release that helps our customers better promote their stories through social media and distribute news through mobile devices. Finally, to ensure growth and drive the strategy forward I appointed a new executive team including key roles for a Group CFO, Chief Technology Officer and SVP of Group HR along with other senior management changes. We are confident that we have the right strategy, the right team and the right investments to drive the company towards growth in 2014.” For further information, please contact: Peter Granat, President and CEO, phone 46 (0)8 507 410 11 e-mail: investorrelations@cision.com Charlotte Hansson, CFO, telephone 46 (0)8 507 410 11 e-mail: investorrelations@cision.com Cision AB (publ) P.O. Box 24194 SE-104 51 Stockholm, Sweden Corp Identity No. SE556027951401 Telephone: 46 (0)8 507 410 00 http://corporate.cision.com Cision AB is required to disclose the information in this interim report under Sweden’s Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 8:30 a.m. CEST on October 23, 2013. Cision is a leading provider of cloud-based PR software, services and tools for the marketing and public relations industry. Marketing and PR professionals use our products to help manage all aspects of their brands – from identifying key media and influencers to connecting with audiences; monitoring traditional and social media; and analyzing outcomes. Journalists, bloggers, and other influencers use Cision’s tools to research story ideas, track trends, and maintain their public profiles. Cision is present in Europe, North America and Asia, is quoted on the Nordic Exchange with revenue of approx. SEK 1.0 billion in 2012. For more information, visit www.cision.com (http://us.cision.com/).

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