BERTRANGE, Luxembourg, July 24, 2003 (PRIMEZONE) -- Metro International S.A. ("Metro") (Nasdaq:MTROA) (Nasdaq:MTROB) today announced its financial results for the second quarter and six months ended June 30, 2003.
QUARTERLY HIGHLIGHTS
-- All newspaper editions report first combined quarterly operating
profit of US$ 1.2 million
-- US$ 2.2 million of cash flow generated by the Group
-- Group operating losses reduced year on year by 73% to US$ 3.2 million
-- Group net sales up 44% year on year to US$ 53.1 million
-- Hong Kong reaches operating profitability in June
-- France operating losses more than halved year on year to under US$
2.0 million, of which 56% was incurred in April
-- Rest of Europe segment of 12 editions reports first combined
quarterly operating profit of US$ 0.2 million
-- 10 operations profitable in second quarter and 7 additional
operations report monthly operating profits
-- US$ 8.3 million of bank debt retired through scheduled amortization
-- SEK 252 million rights issue and SEK 1,151 million debt for equity
conversion transaction underway
July 24, 2003
11 Boulevard royal, l-2449, Luxembourg
The Board of Directors of Metro International S.A.
For further information, please visit www.metro.lu, email info@metro.lu
or contact:
Pelle Tornberg, President & CEO tel: +44 (0) 20 7016 1300
Matthew Hooper, Investor & Press Relations tel: +44 (0) 20 7321 5010
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The full report is available for download:
http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00750/wkr0001.doc
http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00750/wkr0002.pdf