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2008-02-12 07:30:00 CET 2008-02-12 07:30:00 CET REGULATED INFORMATION Talentum Oyj - Company AnnouncementFOCUS ON CORE BUSINESS BRINGS RESULTSTALENTUM OYJ RELEASE February 12, 2008 at 8.30 am FOCUS ON CORE BUSINESS BRINGS RESULTS The Board of Directors has decided to invest in expanding the core business and has set a target of EUR 140 million in net sales for 2010. The net sales of Talentum's publishing business increased by 15% in 2007. Talentum's consolidated net sales grew by 2% in 2007 to EUR 124 million. The consolidated operating profit for 2007 was EUR 13.9 million, 11% of the net sales. “The improvement in profitability builds on good products in Finland and Sweden, successful corporate acquisitions, focusing on our core business and making our operations more rational,” says Juha Blomster, CEO of the Talentum Group. During 2007, Talentum discontinued the traditional repro functions in the premedia business. Publishing operations in Sweden were expanded by acquiring and establishing new magazines and by purchasing the Fakta Regulatory business (now Talentum Fakta), which produces information for professionals in personnel administration and tax legislation. An agreement was reached in January 2008 on the sale of TV content production, though to come into force it still requires approval from the competition authorities. New working methods have been developed in the Group, and cooperation among the departments has been increased to support innovative thinking in order to generate new products and business. “The restructuring and corporate arrangements in Finland and the acquisitions and new magazines established in Sweden proved to be successful solutions. Talentum is today in many ways a different company from what it was at the beginning of 2007,” says Juha Blomster. Publishing and information services form the foundation Talentum's strategy was clarified during 2007. “We want to be the biggest and most profitable publisher and producer of information services in the Nordic countries concentrating on professionals. The main strategic themes in achieving the objective are growth and improving profitability and competitiveness,” Blomster says. Profitability will be improved by focusing on publishing, information services and the direct marketing that supports them. “We are ready to discontinue operations unrelated to the core business so that as to create added value for the owners and to support profitability and growth,” Blomster explains. According to Blomster, the publishing business will be expanded organically and through corporate acquisitions, especially outside Finland. The target for the organic growth of net sales is an average of 4%. Particular potential is seen on the Swedish market, but scope for expanding is being sought in other selected market areas too. The income structure will also be diversified by developing the online business and content sales. The aim is for at least 50% of Talentum's net sales to be generated outside Finland within a few years. The target for the operating profit for the next few years is for it to be about 15% of the net sales. The basis for Talentum's competitiveness is top-quality content and the constant development of products and services. “We will be investing in the online business to serve our customers who belong to a professional target group in those channels where they prefer to read our publications and use our services,” Blomster notes. Further information: Talentum Oyj CEO Juha Blomster Telephone + 358 (0)20 442 4444 Copies to: OMX Nordic Exchanges Helsinki Media |
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