Metro Canada recovered start-up losses

Metro International will receive higher contribution to its (EBIT) revenue from its operation in Canada in 2011.

Metro Canada is a joint venture between Metro International and Canadian publishers Transcontinental and Torstar. The shareholders agreed that royalties shall be paid to Metro International when Metro Canada recovered the losses from the initial period of publication. Losses will be recovered in the end of 2010.

Metro Canada started with an edition in Toronto in 2000, followed by Montreal, Vancouver, Ottawa, Calgary, Edmonton and Halifax. Total circulation is 800,000 (click on graph for bigger version), readership is 1.4 million.

metroCanada20002010

The contribution to Metro’s EBIT from Metro Canada is expected to be approximately €1.5 million in 2010. The contribution in 2010 would have been approximately €4.0 million, had Metro Canada´s result been treated as it will be treated in 2011 according to a Metro press release.

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