2020 was extraordinary in many ways
A lot of focus has been put on the employee safety and safety procedures at the offices. Most of the employees have worked remotely since mid-March. Supporting the managers and personnel in this new situation has been crucial throughout the year.
The pandemic caused demand changes of our services, especially in the business area Nordic Morning. During 2020 we have mitigated and reorganized the Nordic Morning business area, where parts of the employees have been temporarily laid-off. Despite the challenging economic environment, the business areas Edita Prima and Edita Publishing performed well.
Happily we see that the persistent efforts in developing the company culture are paying off. We are clearly moving in the right direction when it comes to desired behaviours, with an impressive development leap in self-leadership.
The consolidated net revenue was EUR 73.9 million (EUR 77.6 million).
Net revenue grew in the Edita Prima business area thanks to the large volume of postal delivery operations, significant service projects, and new customer accounts. Net revenue declined in the Nordic Morning business area in Sweden and Finland largely due to the impacts of the COVID-19 pandemic. In the Edita Publishing business area, net revenue decreased mainly due to it being the final year of the national curriculum, which reduced the sales of learning materials.
The operating loss was -2.2 (+0.6) million. Non-operating items totaled EUR -3.0 (-0.9) million. The non-operating income included in the operating profit amounted to EUR 0.0 (0.1) million.
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 2020, we produced added financial value for stakeholders totaling EUR 31.9 million (37.7). Our aim is to be a responsible partner to our customers in a change.
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Business areas 2020
Nordic Morning business area creates digital experiences that transform businesses and help companies become truly customer-centric. During 2020, the business focused on further refining its organizational setup, in order to better position the business for future profitable growth.
Edita Prima business area provides automated processes for customer-centric communication. In 2020 it was able to grow by gaining more market share especially in transactional printing and signing new large and long-term client contracts.
Edita Publishing business area provides smart learning and legal information services for its clients. The company improved its results in 2020 mainly by focusing on and streamlining its core operations in Legal information business segment.