2019 Annual Report: North Media A/S improves earnings

Announcement no. 02-2020
6 February 2020

• North Media delivered one of its best-ever financial results.
• The Board of Directors proposes a dividend of DKK 4 per share.
• The upward trend in operating profit is expected to continue into 2020.

Highlights in 2019 (comparative figures for 2018 in brackets):

• Operating profit (EBIT before special items) rose to DKK 160 million (DKK 110 million).
• Revenue was DKK 1,130 million (DKK 1,145 million).
• FK Distribution delivered a strong operating profit of DKK 172 million (DKK 139 million).
• North Media Online produced an operating profit for the first time: DKK 7 million (operating loss of DKK 4 million).
• The Group's return on investments was DKK 122.1 million (DKK 5.2 million).
• The profit for the year was almost quadrupled at DKK 205 million (DKK 56 million).      

Higher dividend distribution for 2019 - a 9% dividend yield to shareholders relative to the 2019 year-end share price

North Media endeavours to distribute an attractive and relatively stable rate of dividend to its shareholders. On account of the excellent financial results in 2019 and the positive outlook for 2020, the Board of Directors will recommend to the company in general meeting on 27 March 2020 a dividend distribution of DKK 4 per share. The dividend distribution equals DKK 80.2 million. In 2019, the Group distributed DKK 60.2 million in dividends.

Outlook for 2020: Earnings increase and interesting new developments

North Media anticipates additional operating profit growth in 2020. We expect operating profit in the region of DKK 160 to 190 million and revenues of between DKK 1,075 and 1,125 million.

• FK Distribution continues to optimise its operations.
• The BoligPortal platform is developing new, interesting solutions for lessors.
• BEKEY makes a determined effort to service the growing market for home deliveries.
• Ofir and North Media Aviser are improving their business models.

"We have improved operating profits for the third consecutive year and expect growth to continue into 2020. BoligPortal, BEKEY and FK Distribution have good momentum, and Ofir and North Media Aviser are expected to reach the break-even point at year-end 2021. Accordingly, we are confident that we will also achieve good financial results in the years ahead", says Kåre Wigh, Executive Director & CFO.

For further information
Executive Director & CFO Kåre Wigh, cell phone + 45 25 65 21 45

Attachment

• Annual Report 2019