Eniro’s EBITDA for 2015 expected to be lower than issued forecast

EBITDA for 2015 is expected to be lower than the previously communicated
forecast of EBITDA in line with 2014 (SEK 631 M). Eniro continues to meet its
obligations to banks and other creditors. Eniro is not issuing any new, detailed
forecast other than that EBITDA for 2015 is expected to be lower than SEK 631 M.
As a result of the lower level of anticipated EBITDA, the Board of Directors has
decided to recognize impairment of intangible assets in the range of SEK 1.1 –
1.2 billion in 2015. In connection with the interim report for the second
quarter of 2015, a detailed breakdown of the impairment losses among countries
and operations will be provided. Eniro continues to meet its obligations to
banks and other creditors. The company is not issuing any new, detailed forecast
for 2015 other than that EBITDA for 2015 is expected to be lower than SEK 631 M.

Following the turbulence during the past autumn, Eniro is in full force with
transforming the company and its business model. This work is being conducted
with full intensity, but has initially generated a lesser direct effect than
anticipated. As a result, Eniro’s sales performance was weaker during the first
four months of the year than expected. Following this transformation work and
the uncertainty around it, it is not possible to issue a new detailed forecast
for 2015.

“Naturally, it is disappointing that we do not expect to be able to deliver
earnings at the level indicated in the previously issued forecast,” comments
Stefan Kercza, President and CEO of Eniro. “However, this is a major
transformation that we are conducting of the business, and there is always the
risk of a company initially being affected and sales performing worse than
planned.

“I am convinced that we are carrying out the right measures to make Eniro
competitive in our delivery as a leader in local, digital search and mobile
search. We are now working intensively in all of our operations to meet our
customers’ and the market’s expectations.”

Eniro has in connection herewith decided to change and reduce the management
team. The CFO Roland M Andersen will leave the company and Maria Åkrans has been
appointed acting CFO, currently Head of Group Business Control. The Head of
Communication Christer Lundin will also leave the company.
For further information, please contact:

Stefan Kercza, President and CEO, tel. +46 8 553 310 00

Maria Åkrans, acting CFO, tel. +46 8 553 310 00
This information is such that Eniro AB (publ) is obligated to disclose pursuant
to the Financial Instruments Trading Act and/or the Securities Market Act.
Submitted for publication on May 20, 2015, at 9 a.m. CET.

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. 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 local search companies in the Nordic region. The
company has approximately 2,300 employees and has been listed on Nasdaq OMX
Stockholm since 2000. During 2014, Eniro’s revenues amounted to SEK 3,002 M and
EBITDA was SEK 631 M. Approximately 88 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.