Bisnode reports weak organic revenue growth, above all in the Nordic and BeNeFra regions and a powerful focus on internal structuring to create “One Bisnode”.
For the first quarter of 2013 Bisnode reported revenues of SEK 925 million versus SEK 1,033 million of prior year period a decline of 10%. The numbers include the effects of divested businesses. Core revenues (excluding discontinued operations) declined by 3.8%.
Operating profit (EBITA) of SEK 74 million (242), excl. capital gains of SEK 66 million (84). Operating margin (EBITA) of 8.0 per cent (23.4). Cash flow from operating activities of SEK 60 million (33)
The company sold ‘Baby DM’ in January. Expanded in Central Europe through an acquisition in Serbia and the opening of a new sales office in Bosnia. Bisnode has appointed Carl-Johan Bonnier, Henrik Blomé and Mikael Norlander, to the Board of Directors effective 16 April 2013.
Bisnode CEO Lars Pettersson commented: ”Efforts to rapidly organise all activities in the Group under the Bisnode name are underway throughout Europe – a process that is diverting energy and attention from our day-to-day business. Our performance for the quarter should be seen in light of these conditions.
We are seeing declining demand in the BeNeFra region as a result of a generally weaker market there. In the Nordic region, the drop in sales is partly due to falling demand for the services offered in the Marketing Solutions segment and partly to the consequences of the ongoing process of change.
The process of change, which will continue for the remainder of this year, is aimed at providing Bisnode’s customers with a better and more comprehensive offering. At the same time that we create increased customer value, we are also building a more efficient and rational business in which each country gathers all experience under a single brand, Bisnode.
We are leading Bisnode into the fast-changing information industry, where the transformation of large volumes of data into relevant opinions will help our customers to make smart decisions. We constantly have one eye on the goal and the other on our daily business, and are convinced that the chosen strategy will generate greater value for both our customers and our shareholders.”
Source: Bisnode Press Release