In 2014, the business area’s net revenue was EUR 37.1 million (EUR 44.7 million). The decrease in net revenue was due to the reduction of third-party invoicing, mainly in the Klikki Group, and the depreciation of the Swedish krona. Citat AB’s net revenue remained nearly at the previous year’s level, but Citat Oy’s net revenue decreased due to cost reduction measures taken by customers.
The business area’s operating loss was EUR -2.6 million (profit: EUR 1.1 million). The operating result was weakened by depreciation of goodwill amounting to EUR 3.3 million (EUR 0.0 million). Klikki Group improved its result significantly in both Finland and Sweden. Citat companies recorded a loss in both countries. Citat AB’s result was affected by costs arising from the rationalization of business operations. Citat Oy’s weak result was due to lower net revenue.
In the business area, the Group’s wholly-owned subsidiaries Klikki AS and Klikki ApS were liquidated in March and May respectively. No business operations took place in the liquidated subsidiaries in 2014.
The business area comprises: Citat Oy and Klikkicom Oy in Finland; Citat AB, KliKKi AB, Mods Graphic Studio AB and associate company Brand Systems International AB in Sweden and Citat Ukraine LLC in Ukraine.
|Net revenue (M€)||37.1||44.7|
|Operating profit/loss (M€)||-2.60||1.1|
In 2014, the business area’s net revenue was EUR 11.4 million (EUR 10.9 million). Factors increasing net revenue included the successful acquisition of new customers and focusing on services that support the customers’ business strategy.
The business area's operating profit was EUR 0.7 million (EUR 0.7 million). The operating profit included non-recurring items amounting to EUR -0.1 million (EUR 0.0 million). Although relative profitability decreased slightly, profit remained at a good level thanks to higher net revenue and cost savings achieved by the business area.
The business area comprises JG Communication AB in Sweden.
|Net revenue (M€)||11.3||10.9|
|Operating profit/loss (M€)||0.7||0.7|
In 2014, the business area’s net revenue was EUR 13.2 million (EUR 14.4 million). Net revenue declined the most in the National Centre for Professional Development in Education Educode Oy which, in line with strategy, discontinued allowance projects and was not able to grow new business operations to replace them as planned. Edita Publishing Ltd’s new learning materials were successful, but the net revenue of subscription services and communication services declined.
The business area’s operating profit was was EUR 2.5 million (EUR 2.6 million). The operating profit included non-recurring items amounting to EUR -0.2 million (EUR -0.1 million). Edita Publishing Ltd’s result was better than in the previous year due to growth in learning materials as well as cost savings. The result of the National Centre for Professional Development in Education Educode Oy showed a loss due to the rationalization of operations and difficulties in new customer acquisition.
The business area comprises Edita Publishing Oy and the National Centre for Professional Development in Education Educode Oy in Finland.
|Net revenue (M€)||13.2||14.4|
|Operating profit/loss (M€)||2.5||2.6|
Print & Distribution
In 2014, the business area’s net revenue was EUR 46.5 million (EUR 53.0 million). Net revenue in Finland decreased by 16 percent from the previous year, mainly due to a decline in the demand for general printed products. The production of addressed direct marketing remained at the previous year’s level, while the production of marketing communications based on changing data increased. Net revenue from Swedish operations declined by approximately five percent, particularly due to the depreciation of the Swedish krona. The acquisition of Edita Bobergs AB, completed in 2013, increased net revenue in Sweden. In Finland, the acquisition of Seed Digital Media Ltd improved net revenue from targeted direct marketing and the Group’s services in the area of multichannel loyalty marketing.
The business area’s operating profit was EUR 2.5 million (EUR 2.3 million). The operating profit includes EUR 3.9 million (EUR 0.2 million) in non-recurring items related to value-added tax refunds and property sales. The operating profit excluding non-recurring items showed a loss. The Finnish operations recorded an operating profit, but the result was substantially weaker than in the previous year. In Sweden, the operating result showed a heavy loss due to rationalization costs arising from to the combination of two production plants and the reduction of sheet-fed offset printing capacity, as well as difficulties related to starting up the new production plant.
The business area was strengthened on October 1, 2014, with the acquisition of 100 percent of the share capital of Seed Digital Media Ltd, a specialist in loyalty marketing.
|Net revenue (M€)||46.5||53.0|
|Operating profit/loss (M€)||2.5||2.3|
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Corporate governance principles 2014
Nordic Morning Plc is a Finnish public limited company that is 100 percent owned by the Finnish State. Its corporate governance system complies with the laws of Finland, the company's Articles of Association, and, where applicable, the corporate governance recommendations concerning publicly listed companies.
Board of Directors 31.12.2014
Management team 31.12.2014
ABOUT OUR SERVICES
Loyalty marketing is good service
Jesse Sandqvist, Marketing Strategy Director, Seed Digital Media
“A strategic loyalty marketing plan helps in finding the right customers and developing customer relationships.”
Account Manager, Citat:
"By using the latest virtual reality hardware, Citat and Nobel Biocare break new ground in the advanced, creative storytelling domain."
Creating better service and interactivity
Aleksi Lampinen, Managing Director, Citat Oy:
"The user experience must be positive and content must be easy to find irrespective of the terminal device used or the time of day."
Get social with your content
Pixie Sartang, Head of Social Media Strategy, JG Communication:
"Marketing in the digital space is about captivating an audience in an instant. Companies need to stand out and be just that little bit more interesting."