RedBlack Media The operating result was a loss of EUR 0.6 million in July-September from the operating profit of EUR 0.2 million in the comparison period a year ago.
Basic earnings per share were EUR 0.01, compared to EUR 0.03 in the comparison period.
“The weak demand in the summer months in relation to our increased cost structure due to acquisitions in recent years and increased internal development work was reflected in a decline in operating profit, which the positive development of new services was not yet sufficient to offset,” explained the CEO. Raimo Puustinen.
According to Puustinen, demand in the third quarter of the year fluctuated strongly between different months and our services. Demand in the various services of the visibility and printing business was weak in July and August, until in September the opening up of society began to be reflected in improved demand, especially for visibility services.
“Demand for printing services remained lower than in previous years, which was also reflected in the Group’s overall net sales as weaker than last year.”
Net sales decreased to 23.7 million from 24.1 million.
In the third quarter, PunaMusta implemented the decisions of the co-determination negotiations in print services that ended in June to reduce the cost structure, which were temporarily reflected in additional costs and reduced production efficiency.
“Net cash flow from operating activities was poor due to weaker EBITDA and growth in working capital. However, our EBITDA remained positive, which enables the continuous development of our business. ”
RedBlack Media keeps its outlook unchanged.
The Group’s net sales are expected to remain at last year’s level and the operating result is expected to improve from the 2020 level. In 2020, net sales were EUR 102.8 million and the operating result was EUR -2.5 million.
“The outlook for the rest of 2021 is similar to the last quarter of the previous year. Vaccine coverage has improved, which is reflected in an increase in events and creates a positive mood for some of our services.´ ”
Demand for printing services appears to be continuing its steady decline, which the company is offsetting in line with our strategy with a wider range of services and seeking more comprehensive partnerships.
“The adjustment measures taken will affect our 2022 results. We believe that with the opening up of society, improving demand, austerity measures and the progress of the digital business strategy will be reflected positively in the 2022 earnings trend. ”
Securities trading and changes in the value of the securities portfolio can have a significant effect on the Group’s result.
Source: Arvopaperi by www.arvopaperi.fi.
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