North Media (NORTHM) Q4 2024 earnings summary

Executive summary

• Focused on strategy execution, including SDR integration, BoligPortal scalability, and Mine Tilbud's spin-off as Dayli.

• Divested commercial activities in Ofir to streamline operations.

Financial highlights

• Revenue rose to DKK 1,301m, up 42% year-over-year, adjusted for discontinued operations.

• EBITDA was DKK 154m, down 16% from DKK 182m in 2023; EBITDA margin declined to 11.8% from 19.9%.

• EBIT dropped to -DKK 75m from DKK 155m, mainly due to a DKK 155m write-down related to SDR.

• Net profit for the period was DKK 61.7m, down from DKK 264.4m in 2023.

• Capital resources increased to DKK 893m from DKK 813m.

Outlook and guidance

• 2025 revenue expected at DKK 1,280–1,337m; EBITDA forecasted at DKK 80–115m; EBIT at DKK 25–60m.

• Assumes continued volume declines in leaflets and local newspapers, with SDR volumes down 16%.

• Roll-out of automated packing in Sweden to complete in H2 2025.

• Price increases and business model changes in SDR to drive revenue.