Press Release, Stockholm, February 4, 2016 Bonnier 2015: Profitability on Track While Transforming Bonnier AB’s operating profit (EBITA) for 2015 was SEK 1.01 billion* compared to SEK 1.10 billion the previous year, which was an EBITA margin of 3.9 percent (4.7 percent). The group’s revenues amounted to SEK 25.9 billion (SEK 23.7 billion). Adjusted for C More’s performance, which halved losses compared to the previous year, Bonnier AB’s EBITA for 2015 was more than SEK 100 million better than for 2014.* Says Bonnier AB’s CEO Tomas Franzén: “I’m very pleased that during 2015 we achieved operating profits that were in line with what we had planned, while at the same time we made significant investments in all our business areas. Behind the stable profits lies intensive work in developing services and products, so that we can meet our strategy goal of 50 percent of our revenues coming from new sources, primarily digital, by the year 2020. During 2015-2018, we will save SEK 2 billion. In part, through cost-savings in our traditional businesses, in part by efficiency measures and lowered purchasing costs. The SEK 2 billion will be directly reinvested in services and products that increase our digital revenues, primarily from the end customer. For 2015, I would especially like to mention growth in our smallest business area, Business to Business, with its continually improved margins and a track record of successful acquisitions. From being a business area dominated just a few years ago by traditional print business dailies, a majority of revenues now come from digital business media and services. Just days after 2015 became 2016, we announced an agreement to sell the Danish business daily Børsen**. It’s a good deal for Bonnier, showing we are prepared to make the right business deals in the right circumstances. The sale will provide money for continued acquisitions of purely digital businesses. Together, these measures – cost-savings, investments, acquisitions and divestments – all contribute to our move toward more sustainable revenues and a stronger Bonnier over the long term. In the upcoming years, our new services in digital books and OTT, among others, will reach the market. We expect that 2016 will be a year where our digital revenues show powerful growth.” Books’ revenues increased, with an EBITA of SEK 422 million (437). Bonnierförlagen in Sweden had a very strong year with improved profitability. Bonnier’s German book publishing group, the business area’s biggest, again showed solid results. Bonnier Publishing, through organic growth as well as an ambitious acquisition agenda, grew into the U.K.’s fourth largest book publisher, with steadily improving profitability. In a still tough Finnish book market, Bonnier increased its position in retail sales, partially via strong growth for online retailer Adlibris, partially with the acquisition of the Academic Bookstore chain, with its base in Helsinki. During 2015, the new digital book service with Page 1 of 4 Bonnier AB +46 8 736 40 00 Office Kungsgatan 49 +46 8 736 40 39 Fax SE-113 90 Stockholm SE556508366301 VAT. No Sweden bonnier.com a mobile focus, BookBeat, was developed and launched in beta; it will be fully launched on the market in 2016. Broadcasting’s EBITA was SEK 417 million (589*). The Swedish TV4 Group is strong and continues to invest heavily in content and technology. The successful focus on local content spurred an increase in linear viewing and digital consumption nearly doubled, resulting in both national and digital sales records. C More, through business deals in Norway and Denmark, reversed trends and showed improved results. C More will develop further from a Nordic pay network into a digital-first company, and continue to invest in content and technology. News production company Nyhetsbolaget achieved a new balance, showing positive numbers and working further at creating profitability through new customers and an increased digital focus. In a persisting tough macroeconomic climate in Finland, MTV improved its results through structural changes and cost-savings. The network sold its radio operations, Radio Nova, to Bauer Media in 2015. Business to Business continued its strong growth curve during 2015. The business area improved its results for the seventh year in a row and broke new profit records with an EBITA of SEK 171 million (132). The year was marked by a strong focus on the digital transformation of its core business and an increased pace of acquisitions. Among these were Poland’s biggest business site, Bankier.pl, one of Germany’s leading business news sites, DWN, as well as Clio Online, Denmark’s leading company for digital learning materials for elementary schools. During 2016, a number of key initiatives are planned for expansion into new markets, as well as continued acquisitions. Growth Media, with its focus on digital companies with global potential, in 2015 invested in podcasting platform Acast and virtual reality game studio Resolution Games. Ownership shares were increased in cash-back site Refunder and multi-channel network United Screens. Stockholm-based content agency Spoon made several investments during the year, with the goal of broadening its offer digitally and geographically. Kid’s app developer Toca Boca, Evoke Gaming, TV production company FLX and the newly started media company KIT are among other wholly or partially owned growth companies that are part of the business area. The EBITA was SEK -127 million (-189). The improved results are due primarily by Svensk Filmindustri’s turnaround to profitability, from a clear loss in 2014. Svensk Filmindustri has, since its merger with Swedish production company Tre Vänner in 2013, focused on developing its production, illustrated by the success of the film En man som heter Ove (a man called Ove), seen by 1.4 million Swedes in the cinema. Magazine’s EBITA was SEK 250 million (310). The lower results were due in large part to changes in Danish value-added tax rules. Copenhagen-based Bonnier Publications’ home segment titles, Bo Bedre (better living) and Vi i Villa (living in houses), had markedly improved results, and the entire business area increased digital reveneus as well as revenues from adjacent services. Accelerated growth from these revenue sources will continue to be in focus. Lars Dahmén became the new CEO for Bonnier Tidskrifter in Sweden in August, and took over as head of the business area in early 2016. In 2015, Eric Zinczenko took over as CEO for Bonnier Corporation in the U.S. and at the start of 2016, Jesper Buchvald took over as CEO for Bonnier Publications. News delivered very strong results for 2015, despite continued decreases in print ad sales and falling circulations. The EBITA increased to SEK 363 million (332) at the same Page 2 of 4 Bonnier AB +46 8 736 40 00 Office Kungsgatan 49 +46 8 736 40 39 Fax SE-113 90 Stockholm SE556508366301 VAT. No Sweden bonnier.com time the business area increased investments in digital development by SEK 125 million over the previous year, as well as made continued investments in new competences. Swedish news daily Dagens Nyheter had record reader income for the sixth year in a row. Business daily Dagens industri successfully grew its event business and increased total income. The digital transformation of afternoon daily Expressen’s ad business continued in full force and resulted in an increase for total ad sales. HD-Sydsvenskan’s efforts in integrating the operations of the two newspapers in southern Sweden resulted in profits that exceeded the prognosis of the acquisition budget. After many years of negative results, printer group Bold made a turnaround, showing a profit with new income from external customers and increased capacity utilization. Other includes common group activities and functions. The effect on EBITA from these activities was SEK -488 million (-508). Gearing Ratio (net debt in relation to shareholder’s equity) was 1.05 (0.82). The group’s available liquidity, in the form of liquid assets and undrawn credit reserves, continues to be very good and as of the end of December 2015, amounted to SEK 6.3 billion. Net Sales by business area SEK M 2015 2014 Books 6 969 6 472 Broadcasting 7 738 6 448* Business to Business 1 319 1 142 Growth Media 2 159 1 962 Magazines 4 045 3 944 News 4 675 4 705 Other -999 -971 Bonnier AB total 25 906 23 702 Operating profits (EBITA) by business area SEK M 2015 2014 Books 422 437 Broadcasting 417 589* Business to Business 171 132 Growth Media -127 -189 Magazines 250 310 News 363 332 Other -488 -508 Bonnier AB total 1 008 1,103 Earnings SEK M 2015 2014 Net Sales 25 906 23 702 EBITA 1 008 1 103 EBIT 939 892 Page 3 of 4 Bonnier AB +46 8 736 40 00 Office Kungsgatan 49 +46 8 736 40 39 Fax SE-113 90 Stockholm SE556508366301 VAT. No Sweden bonnier.com Net financial items -230 -365 EBT 709 527 EAT 43 310 * C More was not part of Bonnier AB in 2014. ** The agreement is subject to approval by Danish competition authorities, a process expected to take approximately six months. Further information: David Salsbäck, acting Director of Communications, +46 736 4047 Page 4 of 4 Bonnier AB +46 8 736 40 00 Office Kungsgatan 49 +46 8 736 40 39 Fax SE-113 90 Stockholm SE556508366301 VAT. No Sweden bonnier.com .