Equity-to-assets ratio increased and cash remained at a good level

Result 2014

Net revenue
(EUR million)


Operating profit without
one-time items
(EUR million)


Operating profit
(EUR million)


(EUR million)


Service strategy revised and investments in digital services continued as planned

Nordic Morning Group’s net revenue was EUR 106.6 million (EUR 121.3 million). The decline in net revenue was mainly due to the decrease of third-party invoicing in the Klikki Group and the depreciation of the Swedish krona.

The Group’s operative result was EUR 3.4 million (EUR 4.0 million). In line with the strategy, operations were rationalized and assets were converted into money, leading to a substantial amount of non-recurring items in the income statement at EUR 2.4 million (0.0). Operating profit before non-recurring items was EUR 1.0 million (4.0). The operating profit was weaker than planned due to the consolidation of Swedish printing operations stretching from spring to fall. 

The Group’s equity-to-assets ratio increased to 51.4 percent (42.2), and cash and cash equivalents remained at a good level due to strong operating cash flow.

Nordic Morning revised its service strategy and reorganized its operations accordingly into three business areas starting from January 1, 2015: Visibility & Service Design, Content, and Campaigns & Dialogue.

The Group strengthened its position as a diverse provider of communication services in the Nordic region by acquiring loyalty marketing specialist Seed Digital Media Ltd and focusing on digital communication services in all Group companies.

Net revenue by business area 2014

Employees by business area 2014

Net revenue by business area
2013 - 2014

(IFRS)(EUR 1000)

Operating profit by business area
2013 - 2014

(IFRS)(EUR 1000)

Key figures

Net revenue (M€) 106.6 121.3
Operating profit without one-time items (M€) 1.0 4.0
Profit including one-time items (M€) 3.4 4.0
EBITDA without one-time items (M€) 5,6 8,5
Equity ratio % 51.4 42.2
Operating cash flow (M€) 7.3 7.6
Cash at the end of the year (M€) 9.3 10.1
Employees (average) 660 668

Nordic Morning Group's net revenue
2008 - 2014

(IFRS)(EUR 1000)

Business areas

Marketing Services

Going strong in the Nordic region

The business area comprises: Citat Oy and Klikkicom Oy in Finland; Citat AB, KliKKi AB, Mods Graphic Studio AB, and associate company BrandSystems International AB in Sweden; and Citat Ukraine LLC in Ukraine.

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Editorial Communication

Content at the heart of every brand

The business area comprises JG Communication AB in Sweden.

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Meaningful information and skills

The business area comprises Edita Publishing Oy and the National Centre for Professional Development in Education, Educode Oy in Finland.

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Print & Distribution

Effective targeted marketing

The business area comprises Edita Prima Oy and Seed Digital Media Oy in Finland as well as Edita Bobergs AB in Sweden.

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