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Interim Report January – September 2008 Hans Gieskes, CEO and Erik Forsberg, CFO October 23, 2008.

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Presentation on theme: "Interim Report January – September 2008 Hans Gieskes, CEO and Erik Forsberg, CFO October 23, 2008."— Presentation transcript:

1 Interim Report January – September 2008 Hans Gieskes, CEO and Erik Forsberg, CFO October 23, 2008

2 2 Highlights July – September 2008 Negatives Delayed recovery in the UK Unfavorable volumes of business news for Broadcast Monitor revenues Weak economy starting to have an impact on US Analysis revenues Positives Excluding the UK, organic growth of 2% YTD US CisionPoint sales continues to develop well - North American profitability YTD remains strong Other New CEO, Hans Gieskes, appointed October 7 Goodwill impairment of 241 MSEK, relating to the UK operations

3 3 The Regions North America Organic growth 2% (4) January-September and 1% (6) July-September Weak economy and lower volume of business news impacting Q3 margins CisionPoint continues to be well received with new customers in the US Continued positive development in Canada – revenue growth and improved margins Rest of Europe Organic growth -17% (1) January-September and -19% (-1) July-September UK production disruption from Q1 continue to hurt revenue growth Germany affected by lower business news volumes Very good growth and strong margins in Portugal Nordic and Baltics Organic growth 1% (-1) January-September and 2% (-1) July-September Strong growth for Plan and Connect, but weak demand and price pressure for Monitor

4 4 Cision Group, January – September 2008 Amounts in SEK millionJanuary – Sept Revenue (1 413) Organic growth-3 % (2) EBIT excluding goodwill impairments54 (144) EBIT excluding goodwill impairments, restructuring expenses and costs for bid process 90 (173) Operating margin excl. goodwill impairments, restructuring expenses and costs for bid process 6.9% (12.3) Notes 1.Restructuring expenses of SEK 26 million during the period (29) 2.Negative currency impact on EBIT of 8 MSEK during January-September 2008, compared to the same period Costs for bid process of SEK 10 million during April-June 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 3 MSEK in Q2 and 10 MSEK for Q1-Q2

5 5 Cision Group, July – September 2008 Amounts in SEK millionJuly – Sept Revenue 418 (456) Organic growth-5 % (2) EBIT excluding goodwill impairments14 (60) EBIT excluding goodwill impairments, restructuring expenses and costs for bid process 21 (60) Operating margin excl. goodwill impairments, restructuring expenses and costs for bid process 5.0% (13.0) Notes 1.Restructuring expenses of SEK 7 million during the period (0) 2.Negative currency impact on EBIT of 0 MSEK during April-June 2008, compared to the same period Costs for bid process of SEK 10 million during April-June 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 3 MSEK in Q2 and 10 MSEK for Q1-Q2

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

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

8 8 Regional Operating Performance SegmentOperating Profit, MSEK 1 Operating Margin, % 1 Jan-Sept 2008 July-Sept 2008 Jan-Sept 2008 July-Sept 2008 North America 120 (128) 34 (41) 21,5% (21,5) 18,2% (20,9) Rest of Europe 2 1 (60)-7 (12)0,2% (13,4)-6,1% (8,4) Nordic and Baltic8 (11)4 (4)2,0% (2,9)3,4% (3,0) 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 3 MSEK in Q2 and 10 MSEK for Q1-Q2 3. Negative currency impact on EBIT compared to 2007 of 8 MSEK for Jan-Sept of which 0 MSEK for July-Sept

9 9 Financial Position Balance Sheet per 30 September 2008 (MSEK) Goodwill 1 666Equity Other Fixed Assets307Long Term Liabilities933 Current Assets 514Current Liabilities528 TOTAL ASSETS2 486TOTAL EQUITY AND LIABILITIES Sept Sept 2007 Equity / Assets Ratio41%48% Debt / Equity Ratio70%57% Interest Bearing Net Debt (MSEK) Working Capital (MSEK) Balance Sheet Key Ratios Cash-Flow (MSEK) Jan-Sept 2008Jan-Sept 2007 Operating Cash-Flow83180 Free Cash-Flow-345

10 Cision will fix its execution issues 1.Execution issues plaguing Cision Europe sadly are common for such large scale process re-engineering projects, but the solutions are common too. 2.Cision is now moving swiftly to deal with execution and cost issues. 3.Cision strategy of migrating from leadership in media monitoring to leadership in PR professional workflow solutions is the right course. 10


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