Polaris Media (POL) Q1 2025 earnings summary

Executive summary

• Digital revenues grew 12–16% year-over-year, offsetting print declines and supporting strong digital development and cost control.

• EBITDA fell 26% to NOK 28–38 million, mainly due to Helthjem Netthandel and weaker Swedish results.

• Effective cost measures limited underlying cost growth to 2% year-over-year.

• Significant cash inflow from the sale of Vend shares (NOK 500 million) and strategic acquisitions, including Setesdølen and a 10% stake in Stampen Media.

• Board approved total dividends of NOK 1,098 million to be paid in May 2025.

Financial highlights

• Consolidated operating revenues reached NOK 894 million, up 1% from Q1 2024.

• Adjusted EBITDA was NOK 28–38 million, a 26% decrease from Q1 2024.

• Digital user revenues rose 16% in both Norway and Sweden, while total user revenues in Sweden declined 4% YoY.

• Distribution in Norway saw 8% revenue growth and improved EBITDA; Sweden had a 1–2% revenue increase but negative EBITDA.

• Printing revenues in Norway fell 20% YoY, but EBITDA improved 10% due to cost reductions.

Outlook and guidance

• Additional efficiency measures are being implemented in Swedish distribution to address ongoing challenges.

• Digital user revenues expected to continue growing, supported by investments in journalism, product development, and technology.

• Remaining capital of NOK 1.6 billion provides significant financial flexibility for strategic development.