5 May 2011
Company announcement no. 07-11
North Media A/S maintains revenue growth. EBIT for Q1 2011 is DKK 31.5 million. Extraordinary dividend of DKK 14 per share, or DKK 280 million, to be distributed.
- The Group’s revenue for Q1 2011 comes to DKK 281.6 million, an increase of 6% compared to Q1 2010. This increase in revenue is attributable to the Print segment with particularly distributing activities continuing to develop positively
- EBIT is DKK 31.5 million for Q1 2011 against DKK 19.2 million for Q1 2010, corresponding to an increase of DKK 12.3 million. Overall, this performance is considered satisfactory given the current market situation, and it represents an 11.2% profit margin for Q1 2011 compared to 7.2% for Q1 2010.
- Most of the earnings increase has been realised through printing activities with EBIT for Q1 2011 coming to DKK 41.0 million, an improvement of DKK 9.1 million on Q1 2010. The earnings increase is attributable to increasing sales and continued cost awareness.
- Online activities remain negatively influenced by the weak job advertisement market. In Q1 2011, revenue was lower than in Q1 2010. The operating loss has improved by DKK 2.8 million, coming to DKK 9.9 million for Q1 2011.
- As stated in Company announcement no. 04-11 of 10 March 2011, the remaining 33.3% of shares in GISAB has been sold, and the final selling price of SEK 255.5 million (approx DKK 203 million) was paid on this date.
- Today the Board of Directors decided to distribute extraordinary dividend of DKK 14.00 per share, corresponding to total dividend of DKK 280 million. The last trading day for shares with the right to receive this dividend is today, 5 May 2011. The distribution of dividend is planned for 11 May 2011.
- At 31 March 2011, the Group holds cash and Danish government bonds worth DKK 328.5 million as well as securities worth DKK 43.9 million. Mortgage debt comes to DKK 87.1 million.
- The Group’s net cash position including securities totalled a DKK 285.3 million at 31 March 2011. At 31 December 2010, such net cash position came to a DKK 57.7 million.
- In the early months of 2011, the Company focused on examining the business models of loss-making activities in particular and on market prospects. Based on this, the Company decided to discontinue lokalia.dk.
Outlook for FY 2011
- Expectations for the Group’s revenue are maintained at DKK 1,175 to 1,225 million.
- EBIT expectations for the Group remain at DKK 120 to 150 million.
Please contact Lars Nymann Andersen, CEO, or Kåre Wigh, CFO, at +45 39 57 70 00 for further information.
The Interim Management Statement in its full is attached.
