Egmont, one of Scandinavia’s leading media groups, generated record revenue of EUR 1,492 million in 2007, against EUR 1,236 million in 2006. Growth was driven by investments in wholly and partially owned companies and by a higher level of activity. The Egmont media group also expanded geographically. The Group now publishes media in over 30 countries and employs 4,400 people.
Profit before net financials, depreciation and amortization (EBITDA) amounted to EUR 119 million, an increase of EUR 32 million on the year before. The Group’s profit before tax for 2007 amounted to EUR 65 million compared with EUR 53 million the year before.
President and CEO Steffen Kragh said: “Egmont has grown 21%. Practically all business areas made impressive contributions, which is highly satisfactory. We continued Egmont’s international growth, strengthening the companies’ market positions in the film, TV, magazine and publishing business.”
The year’s highlights include the establishment of Norway’s largest book publisher, Cappelen Damm and the integration of Bonnier Forlagene in Egmont’s publishing house Lindhardt og Ringhof, which also comprises Aschehoug and Alinea. Nordisk Film became co-owner of several film companies while Egmont’s Nordic magazine business gained market shares despite keen competition. Egmont’s Nordic children’s and youth media business increased its market share. TV 2 Norway launched new TV channels and invested in the Norwegian digital terrestrial network through its co-ownership of RiksTV. Outside the Nordic region Poland’s and Russia’s significant expansion in particular brought higher revenue. Activities have also been initiated in the Ukraine and the USA.
“Egmont’s goal is continued growth and constant innovation. We are enjoying success as a supplier of content for books, magazines, music, film and TV, and will stay on this track by focusing on rights and talent. We will also expand our TV broadcasting activities. Finally, we will continue developing Egmont’s media business outside the Nordic region,” Steffen Kragh concluded.
Egmont’s equity amounted to EUR 436 million, a tripling in six years. Profit after tax amounted to EUR 53 million, an increase of EUR 7 million over 2006.
All of Egmont’s business divisions made a positive contribution to the net profit for the year, with Nordisk Film and the books division improving their results. Kids & Teens and International performed on a par with 2006. The magazine division realized a high profit, although lower than in 2006 due to investments in Internet activities.
Facts about Egmont divisions 2007 - incl. Nordisk Film
Financial highlights
Further information available from:
Mika Bildsøe Lassen
Vice President, Corporate Communications
Telephone: +45 33 30 51 40
Cell phone: +45 20 55 26 55
mbl@egmont.com
