Mecom 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.
Norway, Oslo & UK, London
Related articles:
- Mecom Group issues a pre-close trading update Posted on January 11, 2013
- Mecom to conduct a strategic review including, potentially, further disposals. Tom Toumaziz to step down as CEO Posted on July 19, 2012
- Mecom completes the sale of its media business in Norway to A-pressen AS Posted on June 28, 2012
- Mecom sells its media business in Norway to A-pressen AS Posted on December 6, 2011
- Mecom rejects approach by Dutch banks Posted on April 8, 2011
- David Montgomery forced out as chief executive of Mecom after pressure from shareholders Posted on September 10, 2010
- Mecom exceeds market expectations Posted on August 13, 2010
