TALENTUM 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
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