Interim report January

Interim report January - March 2010

Developments in the first quarter;
*Operating revenues amounted to SEK 1,267 M (1,442), down by 12 percent Y/Y,
corresponding to an organic decline of 7 percent
*EBITDA amounted to SEK 170 M (285) 
*Operating cash flow amounted to - 61 M (412)
*The implementation of the new sales concept was initiated in Directories
Scandinavia 



Jesper Kärrbrink, Eniro's CEO, commented:
“The revenue decline in the first quarter is an effect of the structural decline
and a weak directory market at the end of 2009, and is also the main factor
behind the drop in EBITDA. Our decision to accelerate the transformation process
by implementing a new sales concept with a single sales force selling packages
affected order intake and negatively impacted cash flow for the quarter - a
doubling of the number of training days has led to fewer clients approached. 

More importantly, in closing campaigns we are now starting to see the signs of
positive effects from introducing the new concept - improved customer confidence
and faster transformation with slightly higher or retained ARPA. All in all, we
are confident that the majority part of the sales lag will be possible to catch
up by end of this year, and our previously stated outlook of an organic revenue
decline in the range of 5 to 10 percent remains.”

For further information, please contact:
Jesper Kärrbrink, President and CEO
Tel: +46 8-553 310 01
Jan Johansson, CFO
Tel: +46 8-553 310 15, +4670-575 89 72
Birgitta Henriksson (Brunswick Group), Acting Head of IR 
Tel: +46 8-553 315 29, +4672-220 83 29

www.eniro.com


Eniro is the leading directory and search company in the Nordic media market.
Eniro's search database connects sellers to buyers and makes it easy to find
people using Eniro´s distribution channels Online, Printed directories, Voice
and mobile. Eniro has operations in Sweden, Norway, Finland, Denmark and Poland.

Eniro is listed on the Stockholm Stock Exchange and has some 5,000 employees. In
2009, revenues amounted to SEK 6,581 M, with EBITDA SEK 1,807 M
Interim report January - March 2010

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