North Media

Q1 miss mainly driven by FK and SDR Cutting '25e EBITDA/EBIT by 9/15%, small changes to '26e-'27e FVR to DKK 32-68 (34-63), net cash position of DKK 40/share Q1 miss mainly driven by FK and SDR North Media's Q1 was overall weaker than anticipated, seeing...

Q1 revenues 3% below, EBIT DKK -1m vs. ABGSCe DKK 11m FY'25 guidance maintained, as expected Consensus to lower '25e EBITDA by ~10% on Q1 miss Q1 revenues 3% below, EBIT DKK -1m vs. ABGSCe DKK 11m North Media's Q1 revenues of DKK 311m came in 3% below...

Q1e: revenues of DKK 320m, EBIT of DKK 11m, 3% margin Minor underlying revisions; major guidance revision likely too early FVR to DKK 34-63, net cash position of DKK 35/share Q1e: revenues of DKK 320m, EBIT of DKK 11m We forecast Q1 group revenues of...

Q4 EBIT and guidance pre-announced, portfolio return better Conference call failed to ease three key investor concerns FVR cut to DKK 35-67 (36-70), net cash position of ~DKK 41/share Q4 EBIT and guidance pre-announced, portfolio return better Both Q4...

Q4: Headline figures pre-announced last week... ...but return of DKK 7m better than ABGSCe of DKK -23m No signs of BeKey divestment, expect limited consensus revisions DKK 7m Q4 return on portfolio better than ABGSC's DKK -23m North Media released its...

Very weak SDR guidance triggers hefty estimate cuts Three key investor concerns unlikely to ease in the near term FVR cut to DKK 36-70, net cash position of DKK 42/share Very weak SDR guidance triggers hefty estimate cuts Although North Media's FY'25...

Q4: DKK 155m SDR impairment, adj. EBIT slightly better vs. ABG FY'25 sales guidance better, but EBIT guidance much softer Market to question SDR logic, significant negative cons. revisions Q4 sales 7% below, DKK 155m impairment in SDR North Media pre...