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INTERIM REPORT JAN–MAR 2014

“The transformation of Bisnode to increase efficiency and return to growth is continuing, and the first quarter of 2014 developed in line with plan towards growth in the second half of 2014”

JANUARY – MARCH

  • Total revenue amounted to SEK 906 million (925).
  • Organic revenue growth was -0.9 per cent (-3.8).
  • Operating profit (EBITA) was SEK 45 million (74).
  • Operating margin (EBITA) was 5.0 per cent (8.0).
  • Operating profit (EBITA) excluding capital gains and losses and non-recurring items was SEK 52 million (80).- Non-recurring restructuring costs in the quarter amounted to SEK 13 million (14).- Capital gains for the period totalled SEK 6 million (8).
  • Cash flow from operating activities was SEK 9 million (60).
  • Earnings/loss per share (basic and diluted) amounted to SEK -0.15 (0.15).

HIGHLIGHTS JANUARY – MARCH

  • Organic revenue growth (adjusted for foreign exchange effects) was positive for Region Central Europe, while Regions Nordic and DACH showed negative growth as the effects of new initiatives in Sweden and Germany have not yet impacted revenue. Region BeNeFra continued to experience weak revenue development.
  • The One Bisnode restructuring program proceeded according to plan, resulting in SEK 13 million in non-recurring restructuring costs mainly in Sweden and France.
  • During the quarter, M&A activities remained in focus through the acquisition of the minority holdings in Vendemore Nordic AB and InfoDirekt A/S. Bisnode also acquired Grufman Reje Management AB and 75% of the shares in Debitor Registret A/S. The divestment of Lundalogik AB was finalised by 31 January.
  • Mats Lönnqvist was appointed as acting CFO of Bisnode Group as of 25 March.

COMMENTS FROM THE CEO

“In Line With Plan”

Bisnode’s ambition is to help its customers make smart decisions. By combining the knowledge found among Bisnode’s qualified employees with the very latest technology, the value content of Bisnode’s offering will be successively increased.Our explicit ambition to boost the value content of our offering clarifies the need for our leaders in all nineteen countries to adapt the services and products to today’s needs.We are satisfied to see that Bisnode has succeeded in carrying out far-reaching structural changes at the same time that we have defended our business volume. This indicates future potential. Bisnode lost 0.9% in business volume during the first quarter.

Many of the measures that have been taken have still not reached full effect. However, it is my and my colleagues’ goal that we will begin to report organic growth in the second half of 2014.

NORDIC

A structured and methodical process of change is underway in all of the Nordic countries. Sales were down by 1.1% in Q1. During the period, a number of strategic acquisitions were carried out in order to create a more value-adding offering.

DACH Region

DACH defended its business volume from the preceding year (-0.2%). The extensive structural changes in Region DACH are now behind us and we expect 2014 to be a year with an increased business volume as a consequence of the stronger business focus.

BENEFRA

Negative growth of 3.1% for the quarter. It should be mentioned that in Q1 we saw growth in both Belgium and the Netherlands. The drop in sales is entirely attributable to France, where we are carrying out an in-depth process of change.

CENTRAL EUROPE

Growth of 2.1% for Q1. Please note that these sales figures have been affected by changed accounting policies. The region is showing positive development and investing in additional analytical expertise to maximise value added.

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FOR MORE INFORMATION, CONTACT:

Mats Lönnqvist
Mats Lönnqvist

CFO
+46705915563
mats.lonnqvist@bisnode.com

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