| AFTENPOSTEN (MNOK) | 2011 | 2010 |
| Operating revenues |
2,138 |
2,094 |
| Gross operating profit (EBITDA) before share of profit (loss) from associated companies |
277 |
204 |
| Gross operating margin (EBITDA) |
13 % |
10 % |
Aftenposten's core business is the publication of newpapers and the sale of brand and classified advertising on print and digital platforms.
The positive trend in advertising revenues throughout 2010 continued in the first half of 2011 but then levelled off. The turbulence in the international financial markets is affecting advertisers, and uncertainty remains as to how the situation will develop in the time ahead. The weaker trend for the second half of 2011, compared to 2010, mainly pertained to the recruitment, brand and comercial markets.
Circulation revenues showed a positive trend. Circulation for the morning edition, including eAvis, was 235,795 copies (-1.7%) at year-end. Accumulated for 2011, Aftenposten had an average of 1,240,000 unique users every week online, representing a growth of 14 per cent. For mobile the number of unique users was 191,000, representing a growth of 138 per cent.
Aftenposten Forlag's magazines showed positive trends. Innsikt experienced solid growth in subscriptions, and the new monthly cultural magazine, Aftenposten K, got off to a promising start. The niche magazines are key elements in the company's strategy of offering both existing and new customers more products.
Close monitoring of costs contributed to a positive trend in profit for the Group. The print products accounted for most of the profit. Activities on digital platforms showed a marginal positive result.
Sondre Gravir is the new CEO of Aftenposten as of 1 January 2012.
PRODUCT CHANGES
- iPad application with two daily editions, and a separate solution for A-magasinet.
- Launched the cultural magazine K and the food magazine Mat fra Norge.
- Launch of the digital subscription package consisting of Aftenposten and A-magasinet on iPad and the morning edition and Aften as e-papers.
- In September, Aftenposten and MSN launched Nyhetene24.no to reach more readers with the media house's quality content.
- A new editorial production system and new design for the morning edition and Aftenposten.no. New design for the weekend newspapers.
AMBITIONS
- Develop digital products for online, tablet and mobile so that brand position and coverage in the core area are improved.
- Boost the strength of digital advertising sales by showcasing target groups and the impact to advertisers.
- Intensify efforts in the reader market to ensure a continued stable position for the morning newspaper in the core area.
- Increase sales for digital paid service products.
- Cross-selling of the newspapers, the magazines and the digital products.