Metro International S.A. (“Metro”), the international newspaper group, today announced
that its offer to acquire additional interest in the Mexican joint venture Publicaciones
Metropolitanas S.A de C.V (“Publimetro Mexico”) has been accepted. Metro will acquire a
minimum of 15 percent of the total equity of Publimetro Mexico from Inmobiliaria
Torraco, S.A. de C.V. (“Torraco Investments”), who holds 23.54 percent participation
valued at US$ 5.15 million (€4 million). Based on the current agreement, the third
partner of Publimetro Mexico has pre-emptive right to acquire the remaining 8.54 percent
of Torraco Investments, or else Metro will acquire the full 23.54 percent. The legal
procedures in connection with the offer will be completed once Publimetro Mexico
allocates Metro the relevant interests.
Publimetro Mexico recorded sales of €7.8 million in 2009, with high growth rates (50
percent in Q1) expected to continue in the coming years. The operation showed
profitability in its second year after launch in 2007 with EBIT margins between 15-20
percent. With 180,000 daily copies in Mexico City and Monterrey, Publimetro is the
biggest newspaper in the two largest cities in the country. Mexico is the second largest
advertising market in the Latin American region and is forecasted by ZenithOptimedia
(Mar-2010) to grow by 10 percent annually in real terms in the next two years.
Per Mikael Jensen, President and CEO of Metro International commented: “Publimetro
Mexico is a success story and has achieved a strong position in a competitive market.
One of the main reasons for the big success is the strong leadership of Antonio Torrado,
the Managing Director and controlling shareholder of Torraco Investments, from whom we
are acquiring the shares in Publimetro Mexico. Antonio has from the first day been a
very strong entrepreneur of this business and we are grateful for his hard work and
dedication.”
Pablo Mazzei, EVP for Latin America of Metro International added: “Consistent with our
group strategy, we intend to continue to expand our presence in Latin America. Mexico is
a key market in the region and Metro will leverage on the stronger position in Mexico by
strengthening the ability of providing clients and agencies the best possible
advertising solutions and services on a pan-regional basis. We are also encouraged to
see the development of new business projects in Mexico in the last year, offering
alternative revenue streams. One example is the free sports newspaper, Publisport, which
was launched earlier this year with a circulation of 40,000 bi-weekly copies. We see
significant potential for growing the business further.”
For further information, please visit www.metro.lu http://www.metro.lu/ , or contact:
Per Mikael Jensen, President and CEO Tel: +46 8 120 570 00
Pablo Mazzei, EVP Latin America Tel: +56 9 9 158 0700
Linda Fors, Head of Investor Relations Tel: +46 704 15 95 30
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ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published in over
100 major cities in 19 countries across Europe, North & South America and Asia. Metro
has a unique global reach – attracting a young, active, well-educated Metropolitan
audience of 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish
Depository Receipts of series A and series B under the symbols MTROA and MTROB
