CityMail: Interim Report 1 January - 30 September 2000.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Nov. 7, 2000
- Profit for the CityMail Group after financial items and capital
gains of MSEK 93,5 amounted to MSEK 54.0 (MSEK -23.8). During the
third quarter, the profit amounted to MSEK 0.2 million.
- The new core business, City Mail International, more than
doubled its turnover and reported invoicing during the first nine
months in the amount of MSEK 40.4 (18.1). The operating margin for the
third quarter was 11.1 percent.
- Continued low financial risk following the sale of the Swedish
distribution operation to the company jointly owned with Royal Mail,
CityMail Sweden AB.
- A new growth strategy was established for CityMail Group with
CityMail International as the base.
CityMail Group AB's new structure In 2000, the CityMail Group underwent a fundamental restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). . The CityMail Group's previous core business, CityMail Sweden - the Swedish distribution operation - was sold to a new company, CityMail Sweden AB. This company is 67 percent owned by Royal Mail and 33 percent owned by CityMail Group. Consequently, the financial risk in the CityMail Group has also been significantly reduced. Royal Mail is entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to purchase CityMail Group's remaining 33 percent at a later date. In the event this takes place in 2004, the lowest purchase price will be MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 175. CityMail International, which was founded in 1998, is now CityMail Group's core operation. Other activities within the market for interactive address services and logistics supplement the core business. In this report, CityMail Group presents the first results of the restructuring which include, among other things, a significant increase in CityMail International's revenues. In addition, CityMail Group presents the core of the new strategy which will be to develop the company from offering services within cross-border mail processing to becoming an international integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. of large companies customer communications within the business-to-consumer (B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. ) area, e.g. customers within the telecommunications, cable-TV, electricity distribution, and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. areas. The core business - CityMail International CityMail International revenues: The operation has developed according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. plan, however with certain delays in outstanding orders. Of the order in the amount of approximately MSEK 100, which CityMail International obtained in February 2000, it is now estimated that approximately one half is in operation. Work to implement the order is taking place gradually, country by country, and has been delayed due to longer technical and administrative lead times The interval between initiation of procurement action and letting of contract or placing of order. See also procurement lead time. . During the first nine months, revenues increased to MSEK 40.4 (18.1), an increase of 123 percent. The increase is due largely to strong growth in cross border mail. CityMail International operating costs operating costs npl → gastos mpl operacionales : Relatively speaking, costs increased in parallel with revenues since distribution in each country is purchased directly from Royal Mail. During the nine-month period, expenses amounted to MSEK 37.1, and the operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: amounted to 7.9 percent. The operating margin for the third quarter was 11.1 percent. During the last nine-month period, CityMail International's organisation has also been strengthened. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/07/20001107BIT01300/bit0001.doc Full report http://www.bit.se/bitonline/2000/11/07/20001107BIT01300/bit0002.pdf Full report |
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