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2014-04-23

Eniro: First quarter: January-March 2014

94% revenue growth for Mobile search. Multiscreen revenue as a share
of total advertising revenue continued to rise, to 90% (82%).
Adjusted EBITDA for first quarter in line with full-year forecast.

· Revenue for Mobile search grew organically by 94% (100%).
· Total multiscreen revenue (Desktop search, Mobile search and
Campaign products) rose organically by 3% (4%).

· 44% of total product and company searches performed via mobile
channel in Q1.

· Organic revenues decreased by 7% (-7%). Total operating revenue
amounted to SEK 792 M (886), a decrease of 11%.

· EBITDA amounted to SEK 227 M (170), including capital gains of SEK
62 M. Adjusted EBITDA amounted to 169 M (183) and was negatively
effected by approximately SEK 9 M in costs for synthetic shares. The
adjusted EBITDA margin was 21.3% (20.7%). Earnings were charged with
SEK 4 M (13) in restructuring costs.

· Income for the period amounted to SEK 71 M (89).
· Earnings per common share were SEK 0.59 (0.75).
· Operating cash flow was negative SEK 53 M (88). Cash flow
decreased as a result of a lower pace of customer penetration work
during the first quarter and as a result of payments for
restructuring measures that were expensed during the fourth quarter
of 2013.

Events during the first quarter

· Eniro further concentrated its business towards digital local
search with the divestments of InTouch and Scandinavia Online AS in
Norway. Capital gains during the first quarter amounted to
approximately SEK 62 M.

· Eniro launched a new, significantly improved search service that
features a number of new functionalities and marketable products.

· Eniro entered into a franchise partnership in United Arab Emirates
with Etisalat, the world's 13th largest telecom operator. Through the
agreement, Eniro will broaden its revenue base and take a step
towards offering external companies active in other geographic
markets the opportunity to license Eniro's local search platform.

For more information, please contact:
Johan Lindgren, President and CEO, Tel +46 8 553 310 01
Cecilia Lannebo, Head of Investor Relations, Tel: +46 722 208 277,
email: cecilia.lannebo@eniro.com

The information is such that Eniro AB (publ) is required to disclose
in accordance with the Swedish Financial Instruments Trading Act
and/or the Swedish Securities Market Act. The information was
submitted for publication at 08.00 CET on April 25, 2014.

Eniro is a search company that aggregates, filters and organizes local
information. Our growth is driven by users' increasing mobility and
multiscreen behavior, where we are at the forefront with modern
technical solutions. For more than 100 years Eniro has helped people
find local information and companies find customers. Today it is a
multiscreen solution - our users search for information using their
smart phones, tablets and desktops. This creates great business
opportunities for us as the local search company. Mobile advertising
is today the fastest growing part of Eniro's business. Eniro is the
local search engine. A smart shortcut to what you need, no matter
where you are or where you are going.

Eniro is one of the largest search companies in the Nordic region and
Poland. The company has approximately 2,800 employees and has been
listed on NASDAQ OMX Stockholm since 2000. During 2013, Eniro's
revenues amounted to SEK 3,660 M and EBITDA was SEK 849 M. More than
80 percent of Eniro's advertising revenues come from multiscreen
channels. The company's headquarters are located in Stockholm,
Sweden. More on Eniro at www.enirogroup.com.

Eniro - Discover local. Search local.

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http://news.cision.com/eniro/r/first-quarter--january-march-2014,c9573287
http://mb.cision.com/Main/908/9573287/236258.pdf

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