Press release published at The Swedish Wire
Referring to information in media regarding Eniro's negotiations with its lending banks, the company repeats previously communicated information as follows.
On 1 June 2010 Eniro informed that a discussion on how to increase headroom to covenants would be initiated with its lending banks. In the interim report for the second quarter 2010, the company informed that a continued revenue decline combined with a potential payment related to the tax reassessment in Norway would further deteriorate the net debt/EBITDA-relation. This could lead to a breach of covenants in the latter part of the year. Hence, Eniro had initiated discussions with its lending banks to secure headroom to covenants.
Eniro confirms that negotiations are ongoing with its lending banks, including discussions around the company's capital structure. As informed on 6 September 2010, Eniro is conducting a review of the financial targets and an updated outlook statement for 2011 will be presented in connection with the Q3 report, 2010.
The above information is such that Eniro AB (publ) shall make public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 09.00 CET on 22 September 2010.
Johan Lindgren, CEO, +46 8 553 310 01
Jan Johansson, CFO, +46 8 553 310 15
Birgitta Henriksson, Acting Head of Investor Relations, +46 70 812 86 39
Eniro is the leading directory and search company in the Nordic media market. Eniro's search database connects sellers to buyers and makes it easy to find people using Eniro's distribution channels Online, Printed directories, Voice and mobile. Eniro has operations in Sweden, Norway, Finland, Denmark and Poland.
Eniro is listed on NASDAQ OMX Stockholm and has some 4,600 employees. In 2009, revenues amounted to SEK 6,581 M, with EBITDA SEK 1,807 M
This information was distributed by Cision