Webcast Q Kista,

Transcription

1 Webcast Q Kista,

2 Agenda 1) Q2 highlights 2) Traffic and product development 3) Financials 2

3 Revenues are still the problem, efficiency enhancing activities continues to deliver Operating revenue decreases 22%, reaching 496 MSEK (634) Q compared to Q % Desktop/Mobile search revenue decreases 16%, reaching 339 MSEK (405) Q compared to Q % Earnings continues to increase EBITDA increases 137%, reaching 116 MSEK (49) EBITDA margin 23.4% Operating costs 201 MSEK lower in Q2 and 374 MSEK for H1 compared to the corresponding period last year. A non cash impairment loss of 873 MSEK (1,111) 3

4 Management s focus in Q Top priority: actions to stabilize the customer base 1. Reduce churn (actions to decrease number of customers not renewing their contracts) 2. Prospect sales (actions to add new customers) 3. Actions addressing both these dimensions Through a stabilized customer base, we will be able to reverse the negative trend in digital revenue. Always in focus: improving user and customer experience Traffic 8.2 million visitors/week Leads 3.1 million clicks/week (+12% in Q2, has increased 10 consecutive quarters in a row) The nautical app På Sjön top ranked in App Store, Total downloads for På Sjön and Navigation since year end +23% and +17% respectively New features and improvements to our services 4

5 Contents 1) Q2 highlights 2) Traffic and product development 3) Financials 5

6 Total UB YTD 2% Actual 2014 Actual 2015 Actual YTD ,5% Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD ,3% Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD ,4% Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD ,7% Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec

7 Leads delivered to our customers increased by 7 % YTD Actual 2014 Actual 2015 Actual YTD % Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD % Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD % Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec YTD % Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec

8 Mobile usage of our services continues to increase % 81% 26% 74% 34% 66% 36% 64% 39% 61% Q Q2 Total desktop UB Total mobile UB 8

9 User experience Updates in Q2 Real estate boarders at krak.dk Bicycle routes at krak.dk The nautical app Eniro På Sjön has got many new features, among others, AIS information. Links to Facebook Ratings from TripAdvisor 9

10 Customer experience Updates in Q2 Better presentation of companies on the hit list s first page (now with no/fewer unpaying companies). New display format Improved display format, new take over format for start page, allows videos New effect report Norway Free logotype for all customers New product launch: gulesiderinnsikt.no 10

11 Contents 1) Q2 highlights 2) Traffic and product development 3) Financials 11

12 Focus on reversing the trend in Digital revenues 12 Operating revenue by category and operating segments Apr-Jun Apr-Jun Jan-Dec SEK M % 2015 Desktop/Mobile search Complementary digital marketing products Digital search Print Local search Voice Total revenue Comments Excluding currency effects 14% In Q1 2015, a decision was made to stop selling less profitable products within the segment which also affects comparison in Q2 Improved performance in sales teams but customer churn remains a problem Focus areas: Stabilize customer base through: Win back activites Increase number of prospects through cheaper introduction packages

13 Revenue by category (%) Q

14 Revenue Q vs Q2 2015, decrease of 22% Revenue bridge Comments Currency effects of 15 MSEK included, primarily due to a weaker NOK Revenue Q Desktop/Mobile Compl. Dig. Mkt. Prod. Print products Voice Revenue Q

15 Declining digital revenues remains a challenge Revenue by country Apr-Jun Apr-Jun Jan-Dec SEK M % 2015 Sw eden Norw ay Denmark Finland Poland Total revenue Comments Comparison of revenue in Norway year by year is affected by a currency effect of 12MSEK, excluding the currency effect the decline was 20% 15

16 Cost during Q was 201 MSEK lower than Q EBITDA by operating segments Apr-Jun Apr-Jun Jan-Dec SEK M % 2015 Total EBITDA Whereof Local search Whereof Voice Whereof Other EBITDA margin % 23,4 7,7 15,7 Item s affecting com parability Restructuring costs Other items affecting comparability Total adjusted EBITDA Comments in 2015 Other items affecting comp. included a severance package. Adjusted EBITDA margin % 23,8 15,1 18,6 16

17 Key financials: Q/Q comparison Q Q Prepaid revenue Revenue EBITDA Adj. EBITDA Change in working capital Net financial items CapEx Operating cash flow 1 1) Cash flow from operating activities according to Q2 report 17

18 Development net debt/ebitda R12 Net debt* EBITDA Net debt/ebitda Total number of shares ,2 2, Q ,0 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 39 Q Q Q Q Q Q Convertibles converted to shares Q Q Q Q Remaining convertibles *Net debt is equal to net senior debt, i.e excl. convertibles 18

19 Goodwill Lokal Valuta MSEK Goodwill impairment Goodwill Goodwill post Impairment Impairment Impairment Sweden, Local search 1062, ,0 0 Sverige, Voice 66,1 8,7 57,5 9 Norway, Local search 921,9 630,5 291,4 622 Norge, Voice 30,5 10,9 19,6 11 Denmark, Local search 517,2 183,3 333,9 229 Finland, Voice 15,3 0,2 15,1 2 Poland, Local search 0, Total Totalt GW MSEK excl exchange rate differences 60 Totalt GW SEK

20 Q&A 20

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