North Media A/S
Interim Management Statement for Q3 2012 of North Media A/S
North Media A/S 01.11.2012 18:13 --------------------------------------------------------------------------- 1 November 2012 Company announcement no 19-12 In Q3 2012, North Media's activities developed satisfactorily and in line with expectations, taking account of the difficult market conditions, for which reason the expectations for 2012 previously announced are maintained and specified. Q3 2012 - market development stabilised -- Group revenue has dropped by 7.3% to DKK 255.6 million compared to last year. Development in distribution activities with lower volumes of printed matter is as expected, whereas revenue from newspapers and the Online segment continues to improve. -- Profit from ordinary operations (EBIT) comes to DKK 12.9 million, or a profit margin of 5.0% against 10.1% last year. Profit from the Online segment and Søndagsavisen continues to improve, whereas earnings from FK Distribution have declined due to the market trends. -- North Media has granted share options to the Executive Board and executive staff, and in August and September, the Group acquired treasury shares to cover the share option scheme. Q1-Q3 2012 - revenue and performance match expectations -- Revenue of the Group stands at DKK 823.7 million, corresponding to a drop of 5.3% on the same period last year. -- EBIT from continuing operations amounts to DKK 72.9 million against DKK 108.5 million last year. Accordingly, the profit margin stands at 8.9% compared to 12.5% last year. -- The Group's net interest-bearing cash position is DKK 56.3 million at 30 September 2012. Cash and cash equivalents, bonds and shares amount to DKK 226.3 million, whereas mortgage lending stands at DKK 170 million. Expectations for 2012 - maintained and specified -- Expectations for the Group's revenue for 2012 are maintained at DKK 1,050 million to 1,150 million. EBIT expectations are specified from the previously announced DKK 80 million to 110 million to now DKK 90 million to 110 million. Expectations for 2013 - lower revenue and poorer performance -- In 2013, both newspaper and online activities are expected to keep up their earnings increase. The volume of printed matter, however, is expected to decline for FK Distribution due to an increase in the number of households not accepting printed matter. If a levy on advertisements is adopted, expectations are that it will adversely affect the volume of printed matter further. For these reasons, the Group's total revenue and earnings are expected to drop. -- Earnings expectations for 2013 will be issued in connection with the publication of the 2012 Annual Report. Please contact Lars Nymann Andersen, CEO, or Kåre Wigh, CFO, at +45 39 57 70 00 for further information. News Source: NASDAQ OMX 01.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: North Media A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010270347 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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