Metro International Q3 results

Metro International announced net losses of Q3 2oo9 of €8.6m and of €27.5m in the first 9 months. In 2008 the company made a profit in these periods.

The adjusted net revenues declined with 8% in Q3 and with 11% in the first nine months. Total, unadjusted, revenues declined with 26% and 25% in Q3 and the first 9 months.

The sale of Metro Italy, the start of the Ecuador franchise (15% ownership of Metro International) and the partnership with Springer in Hungary were the main changes for Metro in the last months.

CEO Per Mikael Jensen declared:

Whilst the global newspaper markets are expected to decline by 15 to 20 percent this year, Metro International’s operational sales adjusting for currency movements and closed and divested operations has dropped year-on-year by only 8 percent. This is partly a result of the fact that we are performing better than most of our competitors in our European markets and that steady growth continues to be recorded in our emerging markets. It is therefore pleasing to show that we are on the right track in order to meet out our long-term strategic goals.

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