2009-06-17 10:45:00 CEST
2009-06-17 10:45:15 CEST
REGULATED INFORMATION
Talentum Oyj - Company Announcement
TALENTUM'S COMPARISON FIGURES FOR 2008 IN FINANCIAL REPORTING
TALENTUM OYJ COMPANY ANNOUNCEMENT JUNE 17, 2009 AT 11.45 AM TALENTUM'S COMPARISON FIGURES FOR 2008 IN FINANCIAL REPORTING Divesting Talentum Oyj's non-core businesses during 2008 revises historical comparison figures in financial reporting for the year 2009. The revisions are due to the following: -Premedia business operations were reported under the continuing business operations in reports for January - September 2008 and thereafter under discontinued business operations. - Accrual of circulation revenues has been revised as of the beginning of 2009 in Publishing Finland. - Conseco Press company is reported as of January 1, 2009 under section other, where as it previously was included in publishing business. COMPARISON FIGURES IN INTERIM REPORT CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME -------------------------------------------------------------------------------- | EUR million | 1-3/ | 1-6/ | 1-9/ 2008 | 1-12/ | | | 2008 | 2008 | | 2008 | -------------------------------------------------------------------------------- | CONTINUING OPERATIONS | | | | | -------------------------------------------------------------------------------- | Net sales | 24.7 | 51.1 | 68.2 | 93.4 | -------------------------------------------------------------------------------- | Other operating income | 0.1 | 0.2 | 0.3 | 0.5 | -------------------------------------------------------------------------------- | Material and services | 4.1 | 8.3 | 11.2 | 15.0 | -------------------------------------------------------------------------------- | Employee benefit expenses | 10.7 | 22.6 | 31.0 | 41.6 | -------------------------------------------------------------------------------- | Depreciation and amortization | 0.4 | 0.8 | 1.2 | 1.7 | -------------------------------------------------------------------------------- | Other operating expenses | 6.0 | 12.8 | 17.5 | 24.1 | -------------------------------------------------------------------------------- | Operating profit | 3.6 | 6.8 | 7.6 | 11.5 | -------------------------------------------------------------------------------- | Financial income | 0.0 | 0.2 | 0.3 | 0.5 | -------------------------------------------------------------------------------- | Financial expenses | 0.2 | 0.5 | 0.6 | 0.8 | -------------------------------------------------------------------------------- | Share of results of associated | -0.4 | -0.3 | -0.4 | -0.4 | | companies | | | | | -------------------------------------------------------------------------------- | Profit before taxes | 3.0 | 6.3 | 6.8 | 10.9 | -------------------------------------------------------------------------------- | Taxes | -0.9 | -1.7 | -1.4 | -2.8 | -------------------------------------------------------------------------------- | Profit for the period, | 2.2 | 4.6 | 5.4 | 8.1 | | continuing operations | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | DISCONTINUED OPERATIONS | | | | | -------------------------------------------------------------------------------- | Profit for the period, | 0.6 | 0.7 | -2.2 | -2.9 | | discontinued operations | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit for the period | 2.7 | 5.3 | 3.2 | 5.2 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Other comprehensive income: | | | | | -------------------------------------------------------------------------------- | Translation differences | 0.1 | -0.1 | -0.8 | -3.0 | -------------------------------------------------------------------------------- | Total comprehensive income | 2.8 | 5.3 | 2.4 | 2.2 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit for the period | | | | | | attributable to: | | | | | -------------------------------------------------------------------------------- | Equity holders of the parent | 2.7 | 5.3 | 3.2 | 5.2 | | company | | | | | -------------------------------------------------------------------------------- | Minority interest | 0.0 | 0.0 | 0.0 | 0.0 | -------------------------------------------------------------------------------- | Basic and diluted * | | | | | -------------------------------------------------------------------------------- | Earnings per share, EUR | 0.06 | 0.12 | 0.07 | 0.12 | -------------------------------------------------------------------------------- | Earnings per share, continuing | 0.05 | 0.10 | 0.12 | 0.19 | | operations, EUR | | | | | -------------------------------------------------------------------------------- | Earnings per share, | 0.01 | 0.02 | -0.05 | -0.07 | | discontinuing operations, EUR | | | | | -------------------------------------------------------------------------------- * Earnings per share are calculated on the profit attributed to the shareholders of the parent company. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME BY QUARTERS -------------------------------------------------------------------------------- | EUR million | 1-3/ | 4-6/ | 7-9/ 2008 | 10-12/ | | | 2008 | 2008 | | 2008 | -------------------------------------------------------------------------------- | CONTINUING OPERATIONS | | | | | -------------------------------------------------------------------------------- | Net sales | 24.7 | 26.4 | 17.0 | 25.2 | -------------------------------------------------------------------------------- | Other operating income | 0.1 | 0.1 | 0.1 | 0.2 | -------------------------------------------------------------------------------- | Material and services | 4.1 | 4.2 | 2.9 | 3.8 | -------------------------------------------------------------------------------- | Employee benefit expenses | 10.7 | 12.0 | 8.3 | 10.7 | -------------------------------------------------------------------------------- | Depreciation and amortization | 0.4 | 0.4 | 0.4 | 0.4 | -------------------------------------------------------------------------------- | Other operating expenses | 6.0 | 6.8 | 4.7 | 6.6 | -------------------------------------------------------------------------------- | Operating profit | 3.6 | 3.2 | 0.8 | 3.9 | -------------------------------------------------------------------------------- | Financial income | 0.0 | 0.2 | 0.1 | 0.2 | -------------------------------------------------------------------------------- | Financial expenses | 0.2 | 0.3 | 0.2 | 0.2 | -------------------------------------------------------------------------------- | Share of results of associated | -0.4 | 0.2 | -0.2 | 0.1 | | companies | | | | | -------------------------------------------------------------------------------- | Profit before taxes | 3.0 | 3.3 | 0.5 | 4.0 | -------------------------------------------------------------------------------- | Taxes | -0.9 | -0.9 | 0.3 | -1.3 | -------------------------------------------------------------------------------- | Profit for the period, | 2.2 | 2.4 | 0.8 | 2.7 | | continuing operations | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | DISCONTINUED OPERATIONS | | | | | -------------------------------------------------------------------------------- | Profit for the period, | 0.6 | 0.2 | -2.9 | -0.7 | | discontinued operations | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit for the period | 2.7 | 2.6 | -2.1 | 2.0 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Other comprehensive income: | | | | | -------------------------------------------------------------------------------- | Translation differences | 0.1 | -0.2 | -0.7 | -2.2 | -------------------------------------------------------------------------------- | Total comprehensive income | 2.8 | 2.4 | -2.9 | -0.1 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit for the period | | | | | | attributable to: | | | | | -------------------------------------------------------------------------------- | Equity holders of the parent | 2.7 | 2.6 | -2.1 | 2.0 | | company | | | | | -------------------------------------------------------------------------------- | Minority interest | 0.0 | 0.0 | 0.0 | 0.0 | -------------------------------------------------------------------------------- | Basic and diluted | | | | | -------------------------------------------------------------------------------- | Earnings per share, EUR | 0.06 | 0.06 | -0.05 | 0.05 | -------------------------------------------------------------------------------- | Earnings per share, continuing | 0.05 | 0.05 | 0.02 | 0.07 | | operations, EUR | | | | | -------------------------------------------------------------------------------- | Earnings per share, | 0.01 | 0.01 | -0.07 | -0.02 | | discontinuing operations, EUR | | | | | -------------------------------------------------------------------------------- * Earnings per share are calculated on the profit attributed to the shareholders of the parent company. KEY INDICATORS -------------------------------------------------------------------------------- | EUR million | 1-3/2008 | 1-6/2008 | 1-9/2008 | 1-12/2008 | -------------------------------------------------------------------------------- | Net sales | 24.7 | 51.1 | 68.2 | 93.4 | -------------------------------------------------------------------------------- | Operating profit | 3.6 | 6.8 | 7.6 | 11.5 | -------------------------------------------------------------------------------- | as % of net sales | 14.6 | 13.4 | 11.1 | 12.3 | -------------------------------------------------------------------------------- | Total assets | 74.8 | 62.8 | 57.5 | 49.7 | -------------------------------------------------------------------------------- | Investments | 0.5 | 1.1 | 1.9 | 2.4 | -------------------------------------------------------------------------------- | as % of net sales | 2.1 | 2.2 | 2.8 | 2.5 | -------------------------------------------------------------------------------- | Return on investment, % | | | | 32.8 | -------------------------------------------------------------------------------- | Return on equity, % | | | | 31.9 | -------------------------------------------------------------------------------- | Equity ratio, % | 31.8 | 38.9 | 42.0 | 44.8 | -------------------------------------------------------------------------------- | Gearing ratio, % (net | -15.6 | -8.3 | 7.2 | -15.4 | | debt to equity) | | | | | -------------------------------------------------------------------------------- | Interest-bearing | 4.7 | 6.9 | 6.0 | 2.3 | | liabilities | | | | | -------------------------------------------------------------------------------- | Net interest-bearing | -3.7 | -2.0 | 1.8 | -3.4 | | liabilities | | | | | -------------------------------------------------------------------------------- | Personnel on average | 790 | 793 | 783 | 803 | -------------------------------------------------------------------------------- | Earnings per share, EUR | 0.05 | 0.10 | 0.12 | 0.19 | -------------------------------------------------------------------------------- | Cash flow from operating | 0.06 | 0.16 | 0.10 | 0.24 | | activities per share, EUR | | | | | -------------------------------------------------------------------------------- | Equity per share, EUR | 0.53 | 0.55 | 0.57 | 0.51 | -------------------------------------------------------------------------------- | Market capitalization on | 129.8 | 129.1 | 109.9 | 81.6 | | closing rate at period | | | | | | end | | | | | -------------------------------------------------------------------------------- NET SALES AND OPERATING PROFIT BY SEGMENTS -------------------------------------------------------------------------------- | EUR million | 1-3/2008 | 1-6/2008 | 1-9/2008 | 1-12/2008 | -------------------------------------------------------------------------------- | Net sales | | | | | -------------------------------------------------------------------------------- | Publishing Finland | 14.4 | 29.1 | 38.4 | 53.1 | -------------------------------------------------------------------------------- | Publishing Sweden | 8.8 | 19.2 | 25.4 | 34.4 | -------------------------------------------------------------------------------- | Direct marketing | 2.6 | 5.2 | 7.5 | 9.8 | -------------------------------------------------------------------------------- | Other | -1.1 | -2.3 | -3.2 | -4.0 | -------------------------------------------------------------------------------- | Total | 24.7 | 51.1 | 68.2 | 93.4 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | | | | | -------------------------------------------------------------------------------- | Publishing Finland | 3.3 | 5.8 | 6.3 | 9.7 | -------------------------------------------------------------------------------- | Publishing Sweden | 0.6 | 1.8 | 1.9 | 2.8 | -------------------------------------------------------------------------------- | Direct marketing | 0.4 | 0.6 | 0.9 | 1.1 | -------------------------------------------------------------------------------- | Other | -0.7 | -1.4 | -1.5 | -2.1 | -------------------------------------------------------------------------------- | Total | 3.6 | 6.8 | 7.6 | 11.5 | -------------------------------------------------------------------------------- QUARTERLY NET SALES AND OPERATING PROFIT BY SEGMENTS -------------------------------------------------------------------------------- | EUR million | 1-3/2008 | 4-6/2008 | 7-9/2008 | 10-12/2008 | -------------------------------------------------------------------------------- | Net sales | | | | | -------------------------------------------------------------------------------- | Publishing Finland | 14.4 | 14.7 | 9.3 | 14.7 | -------------------------------------------------------------------------------- | Publishing Sweden | 8.8 | 10.4 | 6.2 | 9.0 | -------------------------------------------------------------------------------- | Direct marketing | 2.6 | 2.6 | 2.3 | 2.3 | -------------------------------------------------------------------------------- | Other | -1.1 | -1.2 | -0.9 | -0.8 | -------------------------------------------------------------------------------- | Total | 24.7 | 26.4 | 17.0 | 25.2 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | | | | | -------------------------------------------------------------------------------- | Publishing Finland | 3.3 | 2.5 | 0.5 | 3.4 | -------------------------------------------------------------------------------- | Publishing Sweden | 0.6 | 1.2 | 0.0 | 0.9 | -------------------------------------------------------------------------------- | Direct marketing | 0.4 | 0.2 | 0.3 | 0.2 | -------------------------------------------------------------------------------- | Other | -0.7 | -0.7 | -0.1 | -0.6 | -------------------------------------------------------------------------------- | Total | 3.6 | 3.2 | 0.8 | 3.9 | -------------------------------------------------------------------------------- PUBLISHING'S NET SALES -------------------------------------------------------------------------------- | EUR million | 1-3/2008 | 1-6/2008 | 1-9/2008 | 1-12/2008 | -------------------------------------------------------------------------------- | Net sales | | | | | -------------------------------------------------------------------------------- | Advertisement revenues | 11.5 | 23.5 | 30.7 | 41.1 | -------------------------------------------------------------------------------- | Circulation revenue | 6.5 | 13.7 | 18.2 | 24.8 | -------------------------------------------------------------------------------- | Other content revenue* | 5.2 | 11.1 | 15.0 | 21.6 | -------------------------------------------------------------------------------- | Total | 23.3 | 48.3 | 63.8 | 87.5 | -------------------------------------------------------------------------------- * Other content revenue includes book and training business, as well as information services. QUARTERLY PUBLISHING'S NET SALES -------------------------------------------------------------------------------- | EUR million | 1-3/2008 | 4-6/2008 | 7-9/2008 | 10-12/2008 | -------------------------------------------------------------------------------- | Net sales | | | | | -------------------------------------------------------------------------------- | Advertisement revenues | 11.5 | 11.9 | 7.2 | 10.5 | -------------------------------------------------------------------------------- | Circulation revenue | 6.5 | 7.2 | 4.5 | 6.6 | -------------------------------------------------------------------------------- | Other content revenue* | 5.2 | 5.8 | 3.9 | 6.6 | -------------------------------------------------------------------------------- | Total | 23.3 | 25.0 | 15.6 | 23.7 | -------------------------------------------------------------------------------- * Other content revenue includes book and training business, as well as information services. CONSOLIDATED CASH FLOW STATEMENT -------------------------------------------------------------------------------- | EUR million | 1-3/ | 1-6/ | 1-9/ | 1-12/ | | | 2008 | 2008 | 2008 | 2008 | -------------------------------------------------------------------------------- | Cash flow from operating | | | | | | activities, continuing | | | | | | operations | | | | | -------------------------------------------------------------------------------- | Operating profit | 3.6 | 6.8 | 7.6 | 11.5 | -------------------------------------------------------------------------------- | Adjustments to operating profit | -0.9 | -1.2 | 0.4 | 0.3 | -------------------------------------------------------------------------------- | Change in working capital | 0.2 | 2.2 | -2.7 | 0.9 | -------------------------------------------------------------------------------- | Financial items and taxes | -0.1 | -0.8 | -1.1 | -2.3 | -------------------------------------------------------------------------------- | Net cash from operating | 2.7 | 7.1 | 4.3 | 10.5 | | activities | | | | | -------------------------------------------------------------------------------- | Cash flow from investing | | | | | | activities, continuing | | | | | | operations | | | | | -------------------------------------------------------------------------------- | Acquisition of property, plant | -0.5 | -1.1 | -1.9 | -2.4 | | and equipment and intangible | | | | | | assets | | | | | -------------------------------------------------------------------------------- | Other items | 0.0 | 0.0 | 0.0 | -0.1 | -------------------------------------------------------------------------------- | Net cash from investing | -0.5 | -1.1 | -1.9 | -2.5 | | activities | | | | | -------------------------------------------------------------------------------- | Cash flow from financing | | | | | | activities, continuing | | | | | | operations | | | | | -------------------------------------------------------------------------------- | Change in current loans | -12.7 | -10.0 | -10.6 | -14.0 | -------------------------------------------------------------------------------- | Repayment of non-current loans | -0.3 | -0.5 | -0.7 | -1.0 | -------------------------------------------------------------------------------- | Dividends paid | 0.0 | -8.8 | -8.8 | -8.8 | -------------------------------------------------------------------------------- | Purchase of treasury shares | -0.3 | -1.5 | -1.5 | -1.5 | -------------------------------------------------------------------------------- | Net cash used in financing | -13.3 | -20.8 | -21.7 | -25.3 | | activities | | | | | -------------------------------------------------------------------------------- | Discontinued operations | | | | | -------------------------------------------------------------------------------- | Net cash from operating | -2.2 | -1.8 | -1.7 | -2.2 | | activities | | | | | -------------------------------------------------------------------------------- | Net cash from investing | 9.5 | 12.4 | 12.4 | 12.4 | | activities | | | | | -------------------------------------------------------------------------------- | Net cash from financing | 0.0 | -0.5 | -0.5 | -0.5 | | activities | | | | | -------------------------------------------------------------------------------- | Cash flow from discontinued | 7.3 | 10.1 | 10.2 | 9.8 | | operations | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Change in cash and cash | -3.8 | -4.7 | -9.2 | -7.5 | | equivalents | | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the | 13.8 | 13.8 | 13.8 | 13.8 | | beginning of period | | | | | -------------------------------------------------------------------------------- | Foreign exchange adjustment | -0.1 | -0.1 | -0.3 | -0.6 | -------------------------------------------------------------------------------- | Net change in cash and cash | -3.8 | -4.7 | -9.2 | -7.5 | | equivalents | | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the | 10.0 | 9.0 | 4.4 | 5.7 | | end of period | | | | | -------------------------------------------------------------------------------- PERSONNEL BY SEGMENTS -------------------------------------------------------------------------------- | On average | 1-3/2008 | 1-6/2008 | 1-9/2008 | 1-12/2008 | -------------------------------------------------------------------------------- | Publishing Finland | 221 | 225 | 225 | 223 | -------------------------------------------------------------------------------- | Publishing Sweden | 188 | 188 | 187 | 187 | -------------------------------------------------------------------------------- | Direct marketing | 363 | 361 | 352 | 374 | -------------------------------------------------------------------------------- | Other | 18 | 19 | 19 | 19 | -------------------------------------------------------------------------------- | Total | 790 | 793 | 783 | 803 | -------------------------------------------------------------------------------- The figures in this company announcement are unaudited. TALENTUM OYJ Kaisa Kokkonen CFO Further information Kaisa Kokkonen, CFO, tel. +358 40 342 4212 Distribution NASDAQ OMX Helsinki Principal media
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