North Media A/S
The Group’s expectations for the financial year 2013 are adjusted upwards. FK Distribution continues to roll out No Ads+, and Søndagsavisen has acquired eight local newspapers covering the Copenhagen area.
North Media A/S 06.11.2013 08:02 --------------------------------------------------------------------------- 6 November 2013 Company announcement no 11-13 The Group's expectations for the financial year 2013 are adjusted upwards. FK Distribution continues to roll out No Ads+, and Søndagsavisen has acquired eight local newspapers covering the Copenhagen area. -- Year-to-date Group EBIT is DKK 33.7 million for Q3 2013, which is above expectations. -- Expectations for EBIT for the year are adjusted upwards from DKK 0 to 20 million to DKK 30 to 40 million for 2013. -- FK Distribution's roll-out of No Ads+ is progressing as planned. -- At 1 November 2013, the Group has acquired from Berlingske Media A/S eight local newspapers covering Copenhagen and Frederiksberg. The Group's year-to-date revenue for Q3 2013 is DKK 762.6 million and up to expectations. Compared with the same period last year, this is DKK 49.3 million, or 6%, lower. This is mainly due to structural market developments and the expectations about the implementation of the advertising tax. The Group's year-to-date EBIT is DKK 33.7 million for Q3 2013. This performance is slightly better than expected, primarily due to the postponed implementation of the advertising tax, but also to a better performance by Søndagsavisen and Ofir resulting from a combination of higher contribution margins and lower fixed costs. This year's results are DKK 43.1 million below the year-to-date results for Q3 2012. The main reason for this decline is the lower revenue realised by FK Distribution, which has reduced EBIT by approx DKK 60 million, whereas the Online segment has helped to increase EBIT by approx DKK 10 million. FK Distribution continues to implement No Ads+ at Forum.dk according to the plan On 21 May 2013, FK Distribution launched a new product, No Ads+, at Forum.dk. With this product, the consumers are given the option to select whatever printed matter they would like to receive and deselect printed matter they do not want to receive. Under the No Ads+ arrangement, consumers may also choose not to have their preferred printed matter distributed to them during holidays. FK Distribution's customers are offered a more targeted distribution to households wanting to receive their leaflets, and they can also reach households having otherwise declined ads. On 21 June 2013, ads selected under the No Ads+ arrangement were distributed in specific areas for the first time. Expectations are that the No Ads+ arrangement will be offered to all Danish households by the end of January 2014. Bekey won procurement rounds in four municipalities in 2013 and is being tested or planned to be tested in another 17 municipalities Bekey's electronic key system does not only offer safe and quick access to houses or stairways. Netkey, the Bekey administration unit, may also be used to give electronic access by way of a smartphone or a computer. Netkey also gives an overview of who is using the Bekey system and when. Expectations are that the Bekey system will be sold to private individuals at year-end 2013. At 1 November 2013, Søndagsavisen acquired eight local newspapers covering Copenhagen and Frederiksberg, considerably strengthening its position With the acquisition of those eight newspapers, Søndags-avisen becomes the single largest publishing house in Copenhagen and Frederiksberg with more than half a million newspapers a week. The Group presently publishes 1.6 million newspapers a week at national level. Close to the end of Q3 2013, Søndagsavisen has succeeded in restoring growth by strengthening its relations with major customers in Denmark and by taking a more effective approach to the market. Ofir is now selling the recruitment system, Emply, and is ahead of plan for Q3 2013 in terms of performance Ofir has signed a distribution agreement for the sale of the market-leading recruitment system, Emply. In this context, Ofir has acquired a small interest in the company. Ofir managed to realise the estimated revenue growth rate for both advertisements and recruitment systems, however, at lower costs. The operating loss for Q3 2013 has been almost halved compared to the results for Q3 2012. For Byggestart.dk, the effects of concept adjustments are starting to show. Performance is up to expectations In Q3 2013, certain changes were made to the business model, making the Byggestart.dk/HentTilbud.dk concept more transparent and attractive to builders. This activity remains loss-making. The Group's EBIT expectations for 2013 are up from DKK 0 to 20 million to DKK 30 to 40 million Revenue and profit for Q3 2013 were higher than expected, and expectations are that the advertising tax will not become effective until mid-2014. Overall, the Group's revenue is expected to range from DKK 1,025 to 1,040 million for 2013. Group EBIT is expected to range from DKK 30 to 40 million. Please contact Lars Nymann Andersen, CEO, or Kåre Wigh, CFO, at +45 39 57 70 00 for further information. News Source: NASDAQ OMX 06.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group 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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