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Year-end report January – December 2008 Hans Gieskes, CEO and Erik Forsberg, CFO February 11, 2009.

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Presentation on theme: "Year-end report January – December 2008 Hans Gieskes, CEO and Erik Forsberg, CFO February 11, 2009."— Presentation transcript:

1 Year-end report January – December 2008 Hans Gieskes, CEO and Erik Forsberg, CFO February 11, 2009

2 Highlights October – December 2008 Negatives UK performance remains weak – further cost cuts required Nordic region continues to struggle – Norway and Denmark in particular Weak economy hurts demand Positives CisionPoint sales and cost reductions yield continued strong margins in the US USD strengthening starts to have an impact: +8 MSEK for Q4 Divestment of Danish subsidiary, excluding Plan and Connect in January 2009 Other New organizational structure announced in December The board proposes no dividend for the fiscal year

3 The Regions North America Organic growth 1% (3) January-December and -2% (0) October-December CisionPoint sales continue to increase in the US – focus on migration of current clients Cost reductions in the US contributed to good margins, despite weak economy hurting demand Canada also significantly affected by weak economy in the fourth quarter Rest of Europe Organic growth -13% (-2) January-December and -9% (-5) October-December First new customers on CisionPoint Europe Q4 implied quarter on quarter revenue growth in the UK, however partly due to seasonality Germany affected by weak economy Continued solid performance from Portugal – high growth and strong margins Nordic and Baltics Organic growth 0% (-1) January-December and -2% (-4) October-December Plan and Connect has good growth and solid margins Denmark and Norway margins very unsatisfactory – Denmark divested in January

4 Cision Group, January – December 2008 Amounts in SEK millionJan – Dec Revenue 1,783 (1,873) Organic growth-3 % (1) EBIT excluding goodwill impairments68 (179) EBIT excluding goodwill impairments, restructuring expenses and costs for bid process 125 (232) EBIT margin excl. goodwill impairments, restructuring expenses and costs for bid process 7.0% (12.4) Notes 1.Restructuring expenses of SEK 47 million during the period (52) 2.No currency impact on EBIT of during January-December 2008, compared to the same period Costs for bid process of SEK 10 million during For 2008, operating result includes profit from sale of real estate of 1 MSEK For 2007, operating result includes profit from sale of real estate of 10 MSEK 4

5 Cision Group, October – December 2008 Amounts in SEK millionOct – Dec Revenue 487 (459) Organic growth-2 % (-2) EBIT excluding goodwill impairments14 (35) EBIT excluding goodwill impairments and restructuring expenses 35 (58) EBIT margin excl. goodwill impairments and restructuring expenses 7.1% (12.7) Notes 1.Restructuring expenses of SEK 21 million during the period (23) 2.Positive currency impact on EBIT of 8 MSEK during October-December 2008, compared to the same period

6 Organic Growth & Operating Margin* (rolling 12 months) * Excluding goodwill impairment, restructuring expenses 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 expenses and costs for the April 2008 bid process 7

8 8 Regional Operating Performance SegmentOperating Profit, MSEK 1 Operating Margin, % 1 Jan-Dec 2008 Oct-Dec 2008 Jan-Dec 2008 Oct-Dec 2008 North America 173 (176) 53 (48) 22.0% (22.2) 23.4% (24.2) Rest of Europe 2 3 (78)2 (18)0.6% (13.3)1.5% (13.1) Nordic and Baltic6 (17)-1 (6)1.2% (3.3)-0.9% (4.5) Notes 1. Operating Profit and Margin excluding restructuring expenses and goodwill impairments 2. For 2008, operating result includes profit from sale of real estate of 1 MSEK in Q2 For 2007, operating result includes profit from sale of real estate of 10 MSEK in Q1-Q2 3. No currency impact on EBIT compared to 2007 for Jan-Dec, but positive impact of 8 MSEK for Oct-Dec 8

9 9 9 Financial Position Balance Sheet per 31 December 2008 (MSEK) Goodwill 1 803Equity Other Fixed Assets318Long Term Liabilities1 009 Current Assets 608Current Liabilities630 TOTAL ASSETS2 729TOTAL EQUITY AND LIABILITIES Dec Dec 2007 Equity / Assets Ratio40%47% Net Debt / Equity Ratio66%54% Net Debt (MSEK) Working Capital (MSEK) Balance Sheet Key Ratios Cash-Flow (MSEK) Jan-Dec 2008Jan-Dec 2007 Operating Cash-Flow Free Cash-Flow2094 9

10 2009 Agenda: Focus on execution and transformation 1.Pace of cost cutting is accelerating. Structural solutions under review for non-performing markets. 2.CisionPoint investments and innovation targeted to exceed competition. 3.Recession means good climate for active partnership discussions on e.g. media monitoring production In spite of 2008 performance and recession, Cision is one of few companies well positioned in a pre-consolidation and pre-globalization market 10


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