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during 2011 the business area
of Marketing Services
comprised Citat ab, Mods Graphic Studio ab and the asso-
ciated company Brand Systems ab in Sweden, Citat Oy in
Finland and Citat Ukraine llc in Ukraine. The business
area’s net revenue was eur 20.3 million (eur 20.4 million).
The acquisition of Paperjam Oy increased the net revenue of
Finnish operations. In Sweden, net revenue declined as cus-
tomers invested less in marketing communications, in dig-
ital communications in particular, towards the end of the
year. The business area’s operating loss was eur 0.4 million
(profit: eur 0.5 million). Both Swedish and Finnish opera-
tions reported a loss. In Sweden, the result was undermined
by the decrease in customers’ investments in marketing com-
munications. In both countries, the result was weakened by
adjustment measures, as a result of which the profitability of
Finnish operations improved in the latter part of the year.
In Finland, demand for services grew towards the end of the
year.
One of the largest agencies
Citat is one of the largest advertising and production agen-
cies in the Nordic Region, with a presence in Sweden, Finland,
Denmark, Norway and Ukraine. Its services portfolio includes:
•
Tactical advice, ideas and creation
•
Coordination and production
•
Specialist functions (advising on market processes, image,
photo and systems)
•
Outsourcing
The primary target group consists of large and medium-
sized international companies based in the Nordic Region and
communication-intensive public organisations. Citat’s major
clients include Apollo, Dagens Nyheter, Electrolux, Fazer,
Lantmännen, Nobel Biocare, Nokia, Pensionsmyndigheten,
Pfizer, Sampo Pankki, Skandia, Tieto and Volvo. Citat's vision
is to be the leading advertising and production agency in the
Nordic Region. The company acts as a coherent operator with
an integrated offering to the Nordic market, but at the same
time offers local knowledge, culture and language. Citat con-
tains a broad spectrum of competences and this, in combina-
tion with its Nordic presence, gives the company a strong posi-
tion on the market.
2011
During the first half of 2011 the advertising investment in
Sweden increased 7.2 percent for the first six months. During
the second half, investment slowed down and the whole year's
growth was 4,2 percent. Competition continued to increase at
the same time as digital, and mobile channels increased partic-
ularly dramatically. Daily newspapers, tv and radio also expe-
rienced strong growth.*
The slowdown in the market during the course of 2011
affected Citat’s profits. The strong growth from the previous
year halted and a comprehensive restructuring was initiated
during the course of the year in order to strengthen the crea-
tive part of Citat’s offering in the long-term. The work of cre-
ating a boundless and coherent organisation under a strong
brand continued. Citat’s activities in Ukraine developed well
with complex digital projects for, among others, Childhood
Foundation, Ecophone, Jula and Pensionsmyndigheten.
New client sales during 2011 were positive, with a num-
ber of important new clients such as Fortum, Husqvarna,
Jula, Pensionsmyndigheten, Rikspolisstyrelsen and Tieto.
Development was strong with many existing clients such as
Nobel Biocare, Apollo, Lantmännen, Scania, Sampo Pankki
and Nokia.
Citat had a total annual average of 133 employees. At the
start of 2011, Finnish operations were strengthened with the
acquisition of the Internet agency Paperjam, which tripled
the number of employees in the Finnish part of Citat to 23
people.
bu s i n e s s
m a r k e t i n g s e rv i c e s
Strongly present
in the Nordic region
The agency acts as a coherent operator with an integrated offering
to the Nordic market, but at the same time offers local knowledge,
culture and language.
14
edita’s year 2011