Our transformational journey continues
Business transformation, building growth and developing a growth mindset were the dominant themes in 2019. At Nordic Morning Group, we believe in making the world a better experience – in every little detail, in everything we say and everything we do, at every level of our organization.
Restructuring our operations, building the new organizational setup, implementing the new common enterprise resource planning platform and leading the change were the focus areas in 2019.
The transformational journey for Nordic Morning Group continues, and with that the constant improvements to our offerings and processes, investments in building our culture and ways of working alongside identifying further efficiency innovations.
Consolidated net revenue was EUR 77.6 million (EUR 76.4 million). Net revenue grew in the Edita Prima business area thanks to new, more extensive customer agreements. Net revenue declined particularly in the Nordic Morning business area due to a decrease in subcontracting and lost customers. In the Edita Publishing business area, net revenue decreased mainly due to lower revenue from learning materials and made-to-order products.
Operating profit was EUR 0.6 million (EUR 0.9 million). Non-recurring items totalled EUR -1.0 million (EUR -0.5 million). The non-recurring income included in the operating profit totaled EUR 0.1 million (EUR 0.0 million).
The equity ratio decreased by 1.5 percentage points, which resulted in a ratio of 38.6 (40.1) percent by the end of year.
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 2019, we produced added financial value for stakeholders totaling EUR 37.7 million (41.1). Business transformation and growth continued to be dominant themes for the group.
Nordic Morning business area comprises Nordic Morning Finland Oy in Finland and Nordic Morning Sweden AB and Mods Graphic Studio AB in Sweden.
Nordic Morning Finland and Nordic Morning Sweden are specialized in data-driven marketing and service design. Mods Graphic Studio is specialized in image retouching.
Edita Prima business area comprises only Edita Prima Oy in Finland, which is specialized in automated customer communication services.
Edita Publishing business area comprises only Edita Publishing Oy in Finland, which is specialized in collaborative learning and information solutions.