We are on a change journey
Our client’s needs are changing due to the digital transformation that affects all industries, as well as society.
During the first half of 2017, the Nordic Morning Group began implementing its new strategy by dividing its operations into three new business areas. The Nordic Morning Group now consists of the following business areas: Nordic Morning, Edita Prima, and Edita Publishing.
The aim of our strategy work is to repackage our capabilities and services to better meet today’s client needs and the digital business environment of tomorrow. We have done this in close collaboration with our clients to deliver a superior customer experience, driving growth and customer loyalty.
Consolidated net revenue was EUR 93.4 million (EUR 103.4 million). Net revenue grew substantially in the Edita Publishing business area, particularly due to strong advertising sales. Net revenue in Edita Prima business grew in Finland but decreased in Sweden due to the divestment of Edita Bobergs AB's business operations. The Nordic Morning business area’s net revenue declined due to the closure of the offices in Gothenburg and Malmö.
Operating profit was EUR 5.9 million (EUR -14.3 million). Non-recurring items totalled EUR 2.9 million (EUR -12.4 million). Operating profit excluding non-recurring items was EUR 3.0 million (EUR -1.9 million). Profit excluding non-recurring items improved significantly in all business areas, thanks to successful efficiency improvement measures and cost savings.
The equity ratio at the end of the review period was 46.8 percent (36.3 percent).
Nordic Morning Group’s corporate responsibility (CR) work is based on the triple bottom line: people, profit and planet, corresponding to the areas of social, financial and environmental responsibility. The CR program is firmly integrated within Nordic Morning Group’s business.
Corporate Responsibility covers the activities of the parent company, Nordic Morning Group Plc, and its wholly-owned subsidiaries.
In 2017, we produced added financial value for stakeholders totaling EUR 51.0 million (49.0). Business transformation and growth were the dominant themes for the Group. The Group companies in Helsinki moved under the same roof, which also increased our energy efficiency.
Nordic Morning business area comprises Nordic Morning Finland Oy in Finland; Nordic Morning Sweden AB, Ottoboni Sweden AB, Nordic Morning Data-Driven Content AB, Mods Graphic Studio AB and CountQuest Interactive AB in Sweden.
Nordic Morning Finland, Nordic Morning Sweden, Ottoboni Sweden, Nordic Morning Data-Driven Content and CountQuest Interactive are specialized in data-driven marketing and digital service design to drive growth and customer love. Mods Graphic Studio is specialized in image retouching.
Edita Prima business area comprises only Edita Prima Oy in Finland, which is specialized in services for automated customer communication and sales support materials.
Edita Publishing business area comprises only Edita Publishing Oy in Finland, which is specialized in smart learning and curated information services by using digital technology and content in new ways.