North Media A/S
Interim Management Statement for Q3 2012 of North Media A/S
1 November 2012
Company announcement no 19-12
In Q3 2012, North Media’s activities developed satisfactorily and in line with
expectations, taking account of the difficult market conditions, for which
reason the expectations for 2012 previously announced are maintained and
Q3 2012 – market development stabilised
-- Group revenue has dropped by 7.3% to DKK 255.6 million compared to last
year. Development in distribution activities with lower volumes of printed
matter is as expected, whereas revenue from newspapers and the Online
segment continues to improve.
-- Profit from ordinary operations (EBIT) comes to DKK 12.9 million, or a
profit margin of 5.0% against 10.1% last year. Profit from the Online
segment and Søndagsavisen continues to improve, whereas earnings from FK
Distribution have declined due to the market trends.
-- North Media has granted share options to the Executive Board and executive
staff, and in August and September, the Group acquired treasury shares to
cover the share option scheme.
Q1-Q3 2012 – revenue and performance match expectations
-- Revenue of the Group stands at DKK 823.7 million, corresponding to a drop
of 5.3% on the same period last year.
-- EBIT from continuing operations amounts to DKK 72.9 million against DKK
108.5 million last year. Accordingly, the profit margin stands at 8.9%
compared to 12.5% last year.
-- The Group’s net interest-bearing cash position is DKK 56.3 million at 30
September 2012. Cash and cash equivalents, bonds and shares amount to DKK
226.3 million, whereas mortgage lending stands at DKK 170 million.
Expectations for 2012 – maintained and specified
-- Expectations for the Group’s revenue for 2012 are maintained at DKK 1,050
million to 1,150 million. EBIT expectations are specified from the
previously announced DKK 80 million to 110 million to now DKK 90 million to
Expectations for 2013 – lower revenue and poorer performance
-- In 2013, both newspaper and online activities are expected to keep up their
earnings increase. The volume of printed matter, however, is expected to
decline for FK Distribution due to an increase in the number of households
not accepting printed matter. If a levy on advertisements is adopted,
expectations are that it will adversely affect the volume of printed matter
further. For these reasons, the Group’s total revenue and earnings are
expected to drop.
-- Earnings expectations for 2013 will be issued in connection with the
publication of the 2012 Annual Report.
Please contact Lars Nymann Andersen, CEO, or Kåre Wigh, CFO, at +45 39 57 70 00
for further information.