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North Media A/S specifies and increases earnings expectations for 2017 and expects earnings to improve considerably in 2018

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Company announcement no 06-17

17 August 2017

 

Group revenue expectations have been lowered to range between DKK 860 million and DKK 890 million as opposed to before between DKK 865 million and DKK 910 million. Group EBIT expectations before special items have been made more specific and have instead been increased to range from a negative DKK 20 million to DKK 0 as opposed to previously between a negative DKK 30 million and a negative DKK 5 million for 2017.

In March 2017, PostNord announced that they are going to change their production model from 1 January 2018. One of the results of this change will be – as stated in North Media A/S’ company announcement no 03-17 of 8 March 2017 – that PostNord can no longer distribute weekly newspapers and printed matter on few and pre-defined weekdays. Consequently, PostNord has probably withdrawn from large parts of the weekly newspaper and printed matter distribution market. Based on this, FK Distribution has signed new customer contracts in Q2 2017. However, these contracts will primarily affect operations in 2018.

There will be some uncertainties in 2018 that may have both a positive and a negative effect. Among them are general market developments and FK Distribution’s costs for implementing the new mid-week distribution platform. However, FK Distribution expects an inflow of more new customers, and North Media Aviser has reduced its cost base substantially. In this light, group EBIT is expected to improve considerably in 2018.

The Group expects to publish its Interim Report 2017 on Friday, 18 August 2017.

For further information

Kåre Wigh, Group Executive Director & CFO of North Media, mobile +45 2565 2145.

Yours faithfully

North Media A/S

 

Kåre Wigh

Group Executive Director & CFO

 

 

This Company announcement has been prepared in Danish and English. The Danish text shall be the governing text for all purposes and in case of any discrepancy the Danish wording shall be applicable.

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