Interim Management Statement for Q1 2012 of North Media A/S

| Source: North Media A/S North Media A/S

8 May 2012
Company announcement no 06-12
 

Q1 2012 group results are satisfactory as expected.
FY 2012 expectations remain unchanged.

Q1 2012 reflects improvements at Søndagsavisen

  • Group revenue stands at DKK 286.1 million, which is 1.6% up on last year. This development has been caused by improvements at Søndagsavisen and in online activities. FK Distribution sales saw a small decline due to pricing pressure and lower volumes in the market.
     
  • Profit realised from ordinary operations (EBIT) stands at DKK 33.4 million against DKK 31.5 million in 2011. Profit margin for Q1 2012 is 11.7% compared to 11.2% last year. This earnings improvement is primarily attributable to improved results at Søndagsavisen, MatchWork and Lokalia.dk compared to last year.
     
  • As part of the initiative of strengthening the online business foundation, North Media acquired the internet service providers, Byggestart A/S and HentTilbud ApS, in January and March 2012, respectively. In addition, in February the Group acquired a minority interest in eConscribi International ApS, which develops and sells an e-recruitment solution. Ofir is the sole distributor of this product in Denmark.
     
  • A total of DKK 60 million was paid in dividend in Q1 2012. The Group has operating cash of DKK 62.8 million at the balance sheet date, to which should be added holdings of shares and bonds worth DKK 156.6 million. Mortgage debt comes to DKK 171 million. The Group’s net interest-bearing cash position including securities totalled DKK 48.4 million.

FY 2012 expectations remain unchanged

  • North Media is envisaging aggravated market conditions for FK Distribution in the coming quarters, and, as foreseen, this will affect results for those coming quarters.
     
  • Expectations for the Group’s revenue for 2012 are maintained at DKK 1,050 million to 1,150 million. Also, EBIT expectations for the Group remain at DKK 100 to 130 million.

 

Please contact Lars Nymann Andersen, CEO, or Kåre Wigh, CFO, at +45 3957 7000 for further information.

 

The Interim Management Statement in its full is attached.

 

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