North Media Reports Mixed 2025 Results Amid Profitability Push
Event summary
- North Media reported 2025 revenue of DKK 1.296 billion, down 0.4% YoY, with EBITDA of DKK 124.6 million, a 18.8% decrease from 2024.
- Last Mile segment saw 1% revenue decline, while Digital Services grew 1%, driven by BoligPortal's 4% underlying growth.
- EBIT turned positive at DKK 66.2 million, recovering from a DKK 74.9 million loss in 2024, though impacted by a DKK 155 million SDR impairment in 2024.
- Company proposes DKK 1.25 per share dividend (46% of profit) for 2026, with guidance projecting DKK 1.267-1.333 billion revenue and DKK 75-117 million EBIT.
The big picture
North Media's 2025 results reflect a strategic pivot toward profitability amid challenging market conditions in Denmark and Sweden. The company's focus on automating print distribution and reducing digital service losses aligns with broader industry shifts toward digital-first models. With revenue stabilization and EBIT recovery, the key question is whether these measures can support long-term growth in a consolidating media landscape.
What we're watching
- Segment Performance
- Whether Last Mile can stabilize revenue amid declining volumes in FK Distribution and the ongoing SDR integration.
- Digital Growth
- The pace at which BoligPortal can sustain growth in an imbalanced housing market and Dayli/Bekey can reduce losses.
- Profitability Sustainability
- How North Media balances cost reductions with investment in digital services to meet 2026 guidance.
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