Ilkka Yhtyma Oyj Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Earnings Guidance for the Year 2012; Announces Executive Changes
August 06, 2012 at 11:30 pm EDT
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Ilkka Yhtyma Oyj reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported net sales of EUR 11,734,000 against EUR 13,180,000 a year ago. Operating profit was EUR 2,566,000 against EUR 4,972,000 a year ago. Profit before tax was EUR 1,856,000 against EUR 4,575,000 a year ago. Profit for the period under review was EUR 1,852,000 against EUR 4,247,000 a year ago. Earnings per share were EUR 0.07 against EUR 0.17 a year ago.
For the six months, the company reported net sales of EUR 23,496,000 against EUR 25,323,000 a year ago. The decrease in net sales from the publishing business was caused by a weaker advertising market and the income from parliamentary election advertisements included in the comparative figure for 2011. Operating profit was EUR 5,951,000 against EUR 9,147,000 a year ago. Profit before tax was EUR 4,511,000 against EUR 8,815,000 a year ago. Profit for the period under review was EUR 4,300,000 against EUR 7,920,000 a year ago. Earnings per share were EUR 0.17 against EUR 0.31 a year ago. Cash flow from operations was EUR 6,435,000 against EUR 22,139,000 a year ago. Investments in tangible and intangible assets, net were EUR 400,000 compared to EUR 478,000 a year ago.
The company also announced that Satu Takala (Master of Arts) assumed her position as Chief Editor of provincial paper Ilkka. The former Chief Editor Matti Kalliokoski transferred to Helsingin Sanomat. Takala was previously Managing Editor of the shared editorial unit of Ilkka and Pohjalainen. Prior to this position, she was Managing Director of Vali-Suomen Media Oy and Producer at Sunnuntaisuomalainen in Jyvaskyla as well as a journalist for Ilkka.
The company also provides earnings guidance for the year 2012. Net sales are estimated to estimated to decrease from the 2011 level. Group operating profit from company's own operations and operating profit were as a percentage of net sales.
Ilkka Yhtyma Oyj is a Finland-based company engaged in the provision of printing and publishing services. The Company operates through three segments: Publishing, Printing, and Associated companies. The Publishing segment comprises the activities of subsidiary I-Mediat Oy, responsible for publishing regional (Ilkka and Pohjalainen) and local newspapers (Viiskunta, Komiat, Jarviseutu, Suupohjan Sanomat and Jurvan Sanomat), as well as free sheets (Vaasan Ikkuna and Etela-Pohjanmaa). The segment also covers online and mobile services, as well as marketing and communications services, including influencer marketing portal somessa.com. The Printing segment comprises the activities of I-print Oy, which offers newspaper printing, as well as other digital and specialty printing products and services, including sheet printing, brochure folding, large format prints and label printing, among others. The Company also includes a property subsidiary, Kiinteisto Oy Seinjoen Koulukatu 10.
Ilkka Yhtyma Oyj Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Earnings Guidance for the Year 2012; Announces Executive Changes