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Interim report January – June 2009 Hans Gieskes, CEO and Erik Forsberg, CFO July 23, 2009.

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Presentation on theme: "Interim report January – June 2009 Hans Gieskes, CEO and Erik Forsberg, CFO July 23, 2009."— Presentation transcript:

1 Interim report January – June 2009 Hans Gieskes, CEO and Erik Forsberg, CFO July 23, 2009

2 Highlights April – June 2009 Positives Strong return to profitability in the Nordic: 10% operating margin in Q2 Divestment of loss-making UK print monitor operations announced CisionPoint winner of Software Industry Oscar – CODiE Award Negatives Increasingly negative effect of recession – organic growth decline 2

3 The Regions North America Organic growth -12% in Q2-09, compared to - 9% in Q1-09 and +5% in Q2-08 CisionPoint sales continue to increase – 48% of US clients now on CisionPoint Recession impact increasing – but successfully mitigated through cost cuts Rest of Europe Organic growth -16% in Q2-09, compared to -12% in Q1-09 and -12% in Q2-08 UK losses increasing in Q2, but print monitor operations to be divested during Q4 Germany impacted by recession – address through cost reductions Solid development in Portugal – high growth and strong margins Nordic and Baltics Organic growth +2% in Q2-09, compared to -7% in Q1-09 and +2% in Q2-08 Solid return to profitability in Q2-2009, after divestment of loss-making business units in Q1-09 Organic growth and good margins for Finland and Lithuania Monitor and Analyze business Nordic Plan and Connect experience declining growth, but still good margins 3

4 Cision Group, January – June 2009 Amounts in SEK millionJan – June Revenue837 (878) Organic growth-10 % (-2) EBIT33 (40) EBIT excluding restructuring costs48 (69) EBIT margin excluding restructuring costs5.7% (7.8) Notes 1.Restructuring costs of SEK 15 million during the period (19) 2.EBIT excluding restructuring costs for Jan-June 2008 also excludes 10 MSEK in 2008 bid process costs 3.Positive currency impact on EBIT of SEK 20 million 4

5 Cision Group, April – June 2009 Amounts in SEK millionApril – June Revenue377 (435) Organic growth-12 % (-1) EBIT24 (9) EBIT excluding restructuring costs30 (31) EBIT margin excluding restructuring costs7.9% (7.2) 5 Notes 1.Restructuring costs of SEK 6 million during the period (13) 2.EBIT excluding restructuring costs for April-June 2008 also excludes 10 MSEK in 2008 bid process costs 3.Positive currency impact on EBIT of SEK 9 million

6 Organic Growth & Operating Margin* (rolling 12 months) * Excluding goodwill impairment, restructuring costs and costs for the April 2008 bid process 6

7 Operating Cash Flow and EBIT * (rolling 12 months) Amounts in SEK million * Excluding goodwill impairment, restructuring costs and costs for the April 2008 bid process 7

8 8 Regional Operating Performance SegmentOperating Profit, MSEKOperating Margin, % Jan-June 2009 April-June 2009 Jan-June 2009 April-June 2009 North America 85 (87) 43 (42) 19.8% (23.1) 20.9% (23.1) Rest of Europe-15 (7)-8 (4)-6.5% (3.0)-6.7% (3.3) Nordic and Baltic-4 (4)6 (2)-2.5% (1.4)10.2% (1.5) Notes 1.Operating Profit and Margin excluding restructuring costs 8

9 9 9 Financial Position Balance Sheet per 30 June 2009 (MSEK) Goodwill 1 834Equity Other Fixed Assets286Long Term Liabilities1 058 Current Assets 501Current Liabilities496 TOTAL ASSETS2 622TOTAL EQUITY AND LIABILITIES June June 2008 Equity / Assets Ratio41%47% Net Debt / Equity Ratio72%56% Net Debt (MSEK) Working Capital (MSEK) Balance Sheet Key Ratios Cash-Flow (MSEK) Jan-June 2009Jan-June 2008 Operating Cash-Flow1961 Free Cash-Flow-563 9

10 2009 Execution Agenda is On Track and Forms Basis For Necessary & Feasible Transformation 1.Divest structurally unprofitable business operations Sweden, Norway and Denmark Monitor and Analyze – done in Q1 impact from Q2 UK Print Monitor – done in July impact from Jan Reduce costs to mitigate impact of recession North America margins 21% for Q2, despite -12% organic growth 20% less FTEs employed than at year-end Transform Cisions revenue mix in order to grow share and margins in rapidly changing markets -Continue to Invest in CisionPoint workflow solution and accelerate global roll-out -Invest in high margin Plan and Connect services while de-emphasizing / outsourcing low margin traditional media Monitoring services 10


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