Helsinki, Finland, 2014-04-24 07:30 CEST (GLOBE NEWSWIRE) --
TALENTUM OYJ INTERIM REPORT 24 April 2014 at 8.30 a.m. Talentum Oyj’s Interim Report for January-March 2014: GROUP’S OPERATING INCOME WITHOUT NON-RECURRING ITEMS WAS NEARLY AT PREVIOUS YEAR’S LEVEL – POSITIVE DEVELOPMENT IN MAGAZINE BUSINESS SWEDEN January-March 2014 in brief - Talentum Group's net sales totalled EUR 18.1 million (EUR 19.5 million) - Operating income without non-recurring items was EUR 0.7 million (EUR 0.8 million) and operating income (EBIT) was EUR 0.4 million (EUR 0.7 million) - Operating income without non-recurring items from Magazine Business Sweden was positive despite the decrease in net sales - Operating income from Magazine Business Finland decreased slightly - Operating income from the Event Business decreased, actions are ongoing to increase the profit level - The amount of advertising revenue in Talentum's media decreased by 13.2%. The share of advertising revenue in Talentum's net sales was 25.3%. -Talentum informed on 21 March 2014 that it will acquire Sanoma Pro's B2B business to be a part of the Books and Legal Training segment. The acquisition date will be 30 April 2014. Net sales of business functions:
-Magazine Business Finland: EUR 6.3 million (EUR 7.0 million) -Magazine Business Sweden: EUR 4.7 million (EUR 5.2 million) -Event Business: EUR 3.0 million (EUR 3.2 million) -Books and Legal Training: EUR 2.0 million (EUR 2.0 million) -Direct Marketing: EUR 2.9 million (EUR 3.0 million)
KEY FINANCIAL FIGURES
| EUR million | 1-3 2014 | 1-3 2013 | 1-12 2013 |
| Net sales | 18.1 | 19.5 | 74.5 |
| Operating income without non-recurring items | 0.7 | 0.8 | 3.1 |
| as % of net sales | 3.7 | 4.0 | 4.1 |
| Operating income | 0.4 | 0.7 | 1.4 |
| as % of net sales | 2.1 | 3.7 | 1.8 |
| Income before taxes | 0.4 | 0.4 | 1.6 |
| Net cash from operating activities | 2.0 | 0.3 | 3.3 |
| Total assets | 54.3 | 56.6 | 49.8 |
| Investments | 0.5 | 0.4 | 1.5 |
| as % of net sales | 2.5 | 2.2 | 2.0 |
| Return on invested capital % | 1.6 | 0.3 | 3.2 |
| Return on equity % | 2.0 | 1.5 | 6.0 |
| Equity ratio, % | 41.8 | 45.8 | 47.4 |
| Gearing ratio, % (net debt to equity) | -5.1 | 6.6 | 4.4 |
| Interest-bearing liabilities | 4.7 | 3.4 | 5.1 |
| Net interest-bearing liabilities | -0.9 | 1.3 | 0.8 |
| Personnel on average | 749 | 760 | 750 |
| Earnings per share, EUR | 0.03 | 0.01 | 0.03 |
| Cash flow from operating activities per share, EUR | 0.05 | 0.01 | 0.08 |
| Equity per share, EUR | 0.39 | 0.44 | 0.43 |
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: "Group’s operating income without non-recurring items was nearly at previous year’s level. Enhancing performance of Magazine Business Sweden appeared in segment’s operating income which improved compared to previous year despite the decrease in net sales. Product advertisement sales decreased further in Sweden compared to the reference period but recruitment advertisement remained nearly at reference period’s level.
In the first quarter, profitability from Magazine Business Finland decreased slightly compared to the reference period. Circulation revenue decreased compared to previous year due to fewer publications of the major magazines during the comparative period. Product advertisement sales and recruitment advertisement decreased further in Finland compared to the reference period due to the development of the advertising market and also partially due to fewer publications. In the first quarter, net sales and profitability from the Event Business decreased compared to the reference period. We will focus the product range and at the same time adjust the cost level with target to increase the profit level in the long run. In the first quarter, net sales and profitability from the Books and Legal Training segment decreased slightly compared to the reference period. Net sales and profitability from Direct Marketing decreased compared to the reference period. In March, we informed that we acquire Sanoma Pro's B2B business to be a part of the Books and Legal Training segment. The product portfolio to be transferred, whose most important products are the digital Fokus service and Verkkokirjahylly ("Online Bookshelf"), will increase the diversity of Talentum's offering and our customer base will expand at the same time. The acquisition date will be 30 April 2014. In addition, we informed at the beginning of April, that trademarks Lakimiesliiton Kustannus and Lakimisliiton Koulutus will transfer to Talentum’s usage as of 1 January 2015. I am very pleased about the credit Lakimiesliitto has given to Talentum when at the same Talentum’s position as market leader in Finland for legal service and products further strengthens. Talentum Summa – Talentum's digital service package – will be published in Sweden later during the year 2014, and also the contents from the Swedish magazines will be included in the service. Digital sales’ share of Group’s net sales amounted to EUR 1.9 million of which EUR 1.0 million accumulated from Finland and EUR 0.8 million from Sweden." Talentum 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. 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-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 24 April 2014 at 11.00 a.m. in Sokos Hotel Vaakuna, Asema-aukio 2, 00100, Helsinki, Finland.
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
