Eniro: Cost Savings and Restructuring Costs

STOCKHOLM--()--Regulatory News:

Eniro (STO:ENRO) has carried out the reorganization that was communicated in connection with its third quarter interim report. The cost savings resulting from the reorganization are expected to exceed the SEK 100 M that was previously communicated. The restructuring costs that will be charged against the fourth quarter will amount to SEK 55 M, compared with the previous indication of SEK 35 M.

Eniro has carried out the organizational changes that were communicated in the third quarter interim report. The reorganization, which has been conducted in central support functions, will contribute to greater efficiency and an accelerated pace of delivery in Eniro’s product and service development. The changes affect employees in all geographic markets, with an emphasis in Norway.

The financial impact of the reorganization has now been ascertained. The cost savings resulting from the reorganization are expected to exceed the SEK 100 M that was communicated in conjunction with the third quarter results. The restructuring costs that will be charged against the fourth quarter will amount to SEK 55 M, compared with the previous indication of SEK 35 M.

The information is such that Eniro AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 08.00 CET on December 19, 2013.

Eniro is a search company that aggregates, filters and organizes local information. Our growth is driven by users’ increasing mobility and multiscreen behavior, where we are at the forefront with modern technical solutions. For more than 100 years Eniro has helped people find local information and companies find customers. Today it is a multiscreen solution – our users search for information using their smart phones, tablets and desktops. This creates great business opportunities for us as the local search company. Mobile advertising is today the fastest growing part of Eniro’s business. Eniro is the local search engine. A smart shortcut to what you need, no matter where you are or where you are going.

Eniro is one of the largest search companies in the Nordic region and Poland. The company has approximately 3,000 employees and has been listed on NASDAQ OMX Stockholm since 2000. During 2012, Eniro’s revenues amounted to SEK 3,999 M and EBITDA was SEK 976 M. More than 80 percent of Eniro’s advertising revenues come from multiscreen channels. The company’s headquarters are located in Stockholm, Sweden. More on Eniro at www.enirogroup.com.

Eniro – Discover local. Search local.

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Contacts

Eniro
Mattias Lundqvist
CFO
Tel: +46 8 553 310 04
or
Cecilia Lannebo
Head of Investor Relations
Tel: +46 722 208 277
email: cecilia.lannebo@eniro.com

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Contacts

Eniro
Mattias Lundqvist
CFO
Tel: +46 8 553 310 04
or
Cecilia Lannebo
Head of Investor Relations
Tel: +46 722 208 277
email: cecilia.lannebo@eniro.com