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INM Financial Results

  • 31-08-2013 3:17pm
    #1
    JTMan
    Registered Users, Registered Users 2 Posts: 5,562 ✭✭✭


    INM have published their 30 June 2013 results. The accounts are in the middle of this PDF document here.

    Pension liabilities have soared to 199 million EUR (up 12 million EUR).
    Debt has soared to 459 million EUR (up 15 million EUR).
    Revenue is 164 million EUR (down 14 million EUR).
    Receivables are 28 million EUR (down 29 million EUR).
    Cash is 24 million EUR (up 4 million EUR).
    Held for sale investments are 115 million EUR (SA wing).
    Balance sheet insolvent to the tune of 366 million EUR (up 164 million EUR).

    So ...
    Pension problem still not 100% solved. Pensions Board approval pending.
    Debt restructure still not 100% solved. Rights issue still pending and the stock is still a penny stock.
    Revenue is plunging, newspaper sales down but not as bad as some of their peers.
    Digital revenue (about 5 million EUR) is still tiny.


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