Nordic Morning’s home markets, Finland and Sweden, continued developing at different rates. Media investments increased by more than three percent in Sweden, while in Finland the growth was 0.9 percent. Online services, mobile solutions and social media continued to be the primary growth areas.
We helped our customers in transforming their marketing, communication and business. Customers’ needs for data and analytics services was met by acquiring a data management company CountQuest Interactive AB and by developing and recruiting talent in the area.
Consolidated net revenue was EUR 103.4 million (EUR 104.9 million). The decline was primarily due to the restructuring of the printing business in Sweden and the contraction of the net revenue of the Content business area.
Operating profit was EUR -14.3 million (EUR -0.2 million). It was weighed down mainly by costs of one-time measures of goodwill in the Visibility & Service Design and Content business areas. Operating profit excluding non-recurring items was EUR -1.9 million (EUR -0.1 million).
Equity ratio was 36.3 percent (48.6 percent) and the net cash flow from operating activities was EUR 3.5 million (EUR 0.5 million).
Nordic Morning’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. Supported by our values of renewal, respect and responsibility, the CR program is firmly integrated within Nordic Morning’s business.
Corporate Responsibility covers the activities of the parent company, Nordic Morning Plc, and its wholly-owned subsidiaries.
In 2016, we produced financial added value for stakeholders totaling EUR 49.0 million (55.5). We focused on strengthening employees' engagement and collaboration. The Group companies in Helsinki, Stockholm and Malmö moved under the same roof, which also increased our energy efficiency.
The Data & Insights business area comprises only CountQuest Interactive AB, which is specialized in implementing and maintaining data-driven business decision solutions for the digital activities of global enterprises.
The Visibility & Service Design business area comprises Klikkicom Oy and Ottoboni Finland Oy in Finland; and Klikki AB and Ottoboni Sweden AB in Sweden. Ottoboni is specialized in business and service design. Klikkicom and Klikki are specialized in media optimization.
The Content business area comprises Sitrus Agency Oy and Edita Publishing Oy in Finland; Sitrus Agency AB and Mods Graphic Studio AB in Sweden; and Sitrus Ukraine LLC in Ukraine. Sitrus is specialized in strategic content and content marketing, Mods Graphic Studio in image retouching and Edita Publishing in professional content, information services and learning solutions.
The Campaigns & Dialogue business area comprises Edita Prima Oy and Seed Digital Media Oy in Finland; and Edita Bobergs AB and associate company Brand Systems International AB in Sweden. Edita Prima and Edita Bobergs are specialized in personalized print and Seed Digital Media in loyalty marketing.