Mecom Group plc – results for year ended 31st December 2012

mecomMecom Group plc has announced its results for the year ended 31st December 2012.
HIGHLIGHTS

  • Adjusted EBITDA of €87.5 million (2011: €111.1 million)
  • Total revenue down 9 per cent to €910.5 million
  • Non-advertising revenues down 3 per cent to €546.1 million
  • Advertising revenues down 17 per cent to €364.4 million
  • Costs lower by 7 per cent, or €63.4 million, versus target of €40 million
  • Total adjusted Group earnings per share of 34.6 euro cents (2011: 46.1 euro cents)
  • Final dividend of 5.5 euro cents per share; full year dividend of 11.5 euro cents (including 3.5 cents relating to earnings from discontinued operations)
  • Net debt halved during the year to €129.5 million, with closing leverage of 1.4 times
  • Strategic Review progressing:
    • agreement signed for the disposal of Poland division
    • agreement signed for the disposal of Autotrack online classifieds business
    • processes continue in Denmark and the Netherlands

Full details here.