Findexa: EBITDA at NOK 737m for First Three Quarters
OSLO, Norway, Nov. 5 /PRNewswire/ -- Findexa, the leading publisher of
telephone directories in Norway, achieved EBITDA of NOK 737m for the first
three quarters, up from NOK 726m for the corresponding period last year. The
company maintains an estimated annualized dividend for 2004 of 580 million NOK,
and is confident of maintaining that level in 2005.
"This quarterly result reflects the growing demand for our online services. At
the same time, we are focused on our printed directory services, where we have
a number of proactive initiatives in place to address a decline in top-line
growth. Whilst our initiatives are already beginning to beneficially impact the
business, we do not expect to fully reverse the decline in revenues until late
2005," says Findexa's Chief Executive Officer Peter Darpo.
Dividend The board is committed to a full year annualized cash distribution to
shareholders of at least NOK 580m for 2004. The dividend for the third quarter
will be NOK 0.72 per share, a total of NOK 146m. Dividend will be paid out on
December 1, 2004, based on shareholdings as per November 15, 2004.
Finance Year to date pro forma consolidated operating revenue was at NOK 1,386m,
compared to NOK 1,378m corresponding period last year. EBITDA was NOK 737m
compared to NOK 726m for the corresponding period last year. For the third
quarter, EBITDA was NOK 260m, compared to NOK 257m last year. EBITDA margin for
third quarter was 55 percent. Net income year to date was NOK 275m compared to
nil the same period last year.
Excluding timing differences and revenue from Telefonkatalogen 1880, operating
revenue year to date was NOK 1,342m (NOK 1,378m corresponding period last year)
and EBITDA was NOK 728m (NOK 726m same period last year).
The company had cash at the end of the quarter of NOK 540m.
Increased usage
Gule Sider brand usage continues to show a positive development. Gule Sider had
on average 213,000 daily users in the third quarter. This is an increase of 4.7
percent from second quarter 2004 and 25.3 percent compared to third quarter
2003. Both print and internet increased usage.
About Findexa Findexa is the leading directory publisher in Norway and one of the largest
media companies in the country. Findexa had an estimated 97 percent market
share of the Norwegian printed directories in 2003 based on revenues.
Findexa's four principal directory brands in Norway are Gule Sider(R)
(classified business directories), Telefonkatalogen(TM) (residential and
business listings), Ditt Distrikt(R) (local directories) and BizKit(R)
(business to business directories), distributed through print, SMS, the
Internet, directory assistance and CD-ROM.
Total revenues and EBITDA for 2003 were NOK 1,609m and NOK 780 million
respectively.
On May 25. 2004 the company was listed on the Oslo Stock Exchange.
For further information, please contact
Erik Dahl
Chief Financial Officer, Findexa Limited
Tel.: +47 22 77 11 02 Gro Ismar
Head of Information, Findexa Limited
Mob.: +47 908 72 505 The full report including tables can be downloaded from the following link:
http://hugin.info/133752/R/967627/141029.pdf DATASOURCE: Findexa Limited CONTACT: Erik Dahl, Chief Financial Officer, +47-22-77-11-02, or Gro Ismar, Head of Information, +47-908-72-505, both of Findexa Limited Web site: http://hugin.info/133752/R/967627/141029.pdf http://www.findexa.no/english
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