The year in review Egmont Magazines
Kjeld Lucas, Executive Vice President of Egmont Magazines about the year 2009.
Which key words would describe 2009?
For the Magazines division, 2009 was a year of declining advertising markets, transformation processes, organisational adjustments and cost-saving programmes. But it was also a year of great enthusiasm and resourcefulness among our employees, enabling us to come up with strong products and good results.
What was satisfactory in 2009?
It was wonderful to see how well our strong brands perform, despite challenging market conditions, and that we managed to maintain our market positions.
Which were the highlights of 2009?
Our employees have been very flexible, and having accomplished the ambitious plans laid in 2008, to implement the new “Hjemmet Mortensen” in Norway, and to merge our Swedish magazine companies, as scheduled in 2009, our results actually exceeded expectations.
What was your greatest challenge?
The biggest challenge was undoubtedly the huge drop in advertising income. However, a positive surprise in that connection was our impressive ability to compensate for the lower income; consequently, some areas have in fact performed better than in 2008.
What changes do you expect in 2010?
In 2010 we expect to have reached the bottom of the advertising market, but it will take some time to regain former levels. In 2009 we created a strong foundation for future divisional growth. 2010 will be a year of focus on strengthening our brands and market positions, on printed as well as digital media platforms.
Which digital initiatives do you expect the most of in 2010?
We have launched many interesting initiatives, and it is no secret that it has brought financial strain on us. I expect us to create new, sustainable income channels in this area in 2010, efforts that are already well in progress, and furthermore, that digital platforms will become an integrated element in our brands.
For the Magazines division, 2009 was a year of declining advertising markets, transformation processes, organisational adjustments and cost-saving programmes. But it was also a year of great enthusiasm and resourcefulness among our employees, enabling us to come up with strong products and good results.
What was satisfactory in 2009?
It was wonderful to see how well our strong brands perform, despite challenging market conditions, and that we managed to maintain our market positions.
Which were the highlights of 2009?
Our employees have been very flexible, and having accomplished the ambitious plans laid in 2008, to implement the new “Hjemmet Mortensen” in Norway, and to merge our Swedish magazine companies, as scheduled in 2009, our results actually exceeded expectations.
What was your greatest challenge?
The biggest challenge was undoubtedly the huge drop in advertising income. However, a positive surprise in that connection was our impressive ability to compensate for the lower income; consequently, some areas have in fact performed better than in 2008.
What changes do you expect in 2010?
In 2010 we expect to have reached the bottom of the advertising market, but it will take some time to regain former levels. In 2009 we created a strong foundation for future divisional growth. 2010 will be a year of focus on strengthening our brands and market positions, on printed as well as digital media platforms.
Which digital initiatives do you expect the most of in 2010?
We have launched many interesting initiatives, and it is no secret that it has brought financial strain on us. I expect us to create new, sustainable income channels in this area in 2010, efforts that are already well in progress, and furthermore, that digital platforms will become an integrated element in our brands.
March 2010
