Announcement no. 17-2020
7 Could 2020
Earlier at the moment, the Board of Administrators of North Media A/S authorized the interim report for the primary quarter of 2020. Highlights of the report (Q1 2019 comparative numbers in brackets):
Good progress in first quarter regardless of the sure affect from the COVID-19 disaster
- Income of DKK 275 million (DKK 264 million). 5% development generated by persevering with operations.
- North Media has saved all operations going because the COVID-19 outbreak, whereas adapting to the circumstances.
- EBIT earlier than particular gadgets improved to DKK 63 million (DKK 25 million). The revenue margin improved to 22.9% (9.6%).
- Sturdy earnings enchancment by FK Distribution pushed by effectivity enhancements, together with transfer from two to 1 weekly distribution spherical.
- North Media On-line trebled earnings, pushed by sustained development in on-line visitors and within the provide of rental housing items on BoligPortal.
- BEKEY’s core section Homecare produced a revenue for the primary time.
- As beforehand introduced, North Media Aviser was divested efficient from 1 Could 2020.
Capital sources remaining stable
- Capital sources of DKK 471 million at March 31, 2020, as in contrast with DKK 485 million at 31 December 2019.
- Sturdy money flows from working actions virtually offset the consequences of the unrealised loss on securities and share buybacks in the course of the quarter.
- Adverse return on securities portfolio of DKK 45 million within the first quarter.
- In April, the securities portfolio offered a optimistic return of DKK 51 million.
Up to date steerage for 2020
- North Media now guides for EBIT earlier than particular gadgets in step with the 2019 determine of DKK 160 million. The complete-year steerage had been suspended on account of COVID-19 since 18 March.
- As a result of COVID-19, market developments are topic to appreciable uncertainty, particularly in some elements of the retail sector.
“We’ve had begin to the yr. FK Distribution has transitioned from two to 1 weekly distribution spherical sooner than we had anticipated, and Boligportal and BEKEY have each retained their sturdy momentum. Nonetheless, COVID-19 is inflicting plenty of market uncertainty, and FK Distribution has seen a slight drop in leaflet volumes because the outbreak. It’s tough to foretell how the remainder of the yr will unfold, however based mostly on present tendencies, we consider an working revenue in step with the 2019 determine is life like,” stated Kåre Wigh, Group Government Director & CFO.
For additional info, please contact:
Kåre Stausø Wigh, Group Government Director & CFO, cell +45 25 65 21 45
This doc is an unofficial translation of the Danish authentic. Within the occasion of any inconsistencies, the Danish model shall apply.
