Changes creating conditions for greater stability

Second quarter: April - June 2015

  · Total operating revenue amounted to SEK 634 M (767), a decrease of 17%.
Revenue decreased organically by 17% (-12%).
  · Revenue from Desktop and Mobile search amounted to SEK 405 M (489), a
decrease of 17%. Revenue from Desktop and Mobile search decreased organically by
17% (-12%).
  · Prepaid revenue as per June 30, 2015, amounted to SEK 564 M (633), a
decrease of 11% compared with June 30, 2014.
  · EBITDA amounted to SEK 49 M (168). Earnings were charged with SEK 47 M (-7)
in nonrecurring costs, consisting of SEK 12 M (0) in severance pay and SEK 35 M
(-1) in restructuring costs. Earning for the comparison period included capital
gain of SEK 6 M. The EBITDA margin was 7.7% (21.9%).
  · Net income for the quarter was SEK -1,185 M (53), mainly affected by
impairment of intangible assets.
  · Earnings per common share for the quarter were SEK -4.55 (0.39) before
dilution and SEK -2.40 (–) after dilution.
  · Operating cash flow amounted to SEK -81 M (174).
  · A non-cash impairment loss of SEK 1,111 M was recognized. Of this total, SEK
646 M pertained to Local search, stemming mainly from the acquisition of the
Norwegian company Findexa in 2005, and SEK 465 M pertained to Voice.
  · A lump-sum amortization of debt of SEK 670 M was made in April. In June the
first scheduled amortization of SEK 75 M towards the renegotiated bank loan was
made.
  · Half year: January - June 2015
  · Total operating revenue amounted to SEK 1,266 M (1,536), a decrease of 18%.
  · Revenue from Desktop and Mobile search decreased organically by 14% (-9%),
while total revenue from Digital search decreased organically by 14% (-6%).
  · EBITDA amounted to SEK 142 M (372). Earnings were charged with SEK 58 M (
-65) in nonrecurring costs, consisting of SEK 46 M (3) in restructuring costs
and SEK 12 M (0) in cost for severance pay. Earning for the comparison period
included capital gains of SEK 68 M. The EBITDA margin was 11.2% (24.2%).
  · Net income for the period was SEK -1,212 M (106) and was negatively affected
mainly by the impairment losses for intangible assets during the second
quarter.
  · Earnings per common share for the period were SEK -6.81 (0.80) before
dilution and SEK -2.96 (–) after dilution.
  · Operating cash flow amounted to SEK -43 M (121).

Events during the second quarter

  · EBITDA for 2015 is expected to be lower than the previously issued forecast
of EBITDA in line with 2014. No new forecast is being issued.
  · CFO Roland M. Andersen left the company, and the former Head of Group
Business Controlling, Maria Åkrans, was appointed as acting CFO.
  · The organization is being further adapted to the digital business. Personnel
cuts by 260 positions are expected to generate cost savings of SEK 25 M in 2015,
with a 12-month effect of SEK 120 M.
  · In April the newly issued common shares were registered. Following the
issue, the number of common shares outstanding amounted to slightly more than
407.5 million, including treasury shares.
  · Newly issued convertibles were taken up for trading on Nasdaq OMX Stockholm
in April. During the second quarter, 39 convertibles were converted to common
shares.
  · The renegotiated loan agreement took effect in April, with a conversion
value of SEK 1,850 M broken down into three currencies with a tenor through
2018. Following the scheduled amortization in June, the bank loan amounted to
SEK 1,621 M.
  · Nasdaq OMX Stockholm’s Disciplinary Committee announced its finding that
Eniro contravened certain items of the Exchange’s member rules and that the
company shall therefore pay a fine to the Exchange equal to three annual fees.
The items pertained to the accounting errors that led to the reporting of the
company’s former CEO to the police authority and to Eniro’s adjustment of the
full-year forecast for 2015. Eniro had come to the same conclusion as the
Disciplinary Committee with respect to the incorrect accounting. With respect to
the adjustment of the full-year forecast, the Disciplinary Committee noted that
the company did not knowingly publish an incorrect forecast, and that the matter
was more of a judgment issue.

Events after the end of the reporting period

  · Board member Staffan Persson is leaving the Board for personal reasons.
For further information, please contact:
Maria Åkrans, Acting Head of Investor Relations, telephone: +46 (0) 708 566 400,
e-mail: ir@eniro.com
This 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 8:00 am
CET on July 16, 2015.

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 2,300 employees and has been listed on NASDAQ
Stockholm since 2000. During 2014, Eniro’s revenues amounted to SEK 3,002 M and
EBITDA was SEK 631 M. More than 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.

Eniro – Discover local. Search local.