North Media A/S Reports Unaudited Consolidated Earnings Results for the Year Ended 31 December 2015; Provides Earnings Guidance for the Year 2016
February 11, 2016 at 02:01 am EST
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North Media A/S reported unaudited consolidated earnings results for the year ended 31 December 2015. For the period, the company reported revenue of DKK 1,012.4 million compared to DKK 1,073.7 million a year ago. EBITDA was DKK 55.6 million compared to DKK 103.4 million a year ago. LBIT was DKK 20.1 million compared to EBIT of DKK 47.7 million a year ago. Loss continued operations before tax was DKK 15.2 million compared to DKK 39.6 million a year ago. Net loss for the year was DKK 11.9 million or DKK 0.5 per diluted share compared to net profit of DKK 22.7 million or DKK 1.1 per diluted share a year ago. Free cash flow was DKK 40.2 million against DKK 83.3 million a year ago. Cash flow from operating activities was DKK 34.6 million compared to DKK 83.5 million a year ago. Investment in intangible assets and property, plant and equipment was DKK 10.8 million compared to DKK 25.0 million a year ago. Return on equity was negative 2.3% compared to return on equity of 4.3% a year ago.
The company provided earnings guidance for the year 2016. For the year, the group's revenue is expected to range from DKK 880 million to DKK 930 million in 2016 compared to DKK 1,012 million in 2015. The decline in revenue has a major impact on EBIT. Group EBIT before special items is expected to go down from a negative DKK 0.7 million in 2015 to range between a negative DKK 20 million and a negative DKK 50 million in 2016. Amortization and depreciation are expected to stand at approximately DKK 37 million. Group EBITDA is therefore expected to range from a negative DKK 13 million to a positive DKK 17 million.
North Media A/S, formerly Soendagsavisen A/S, is a Denmark-based company engaged in the news and media sector. The Company is primarily engaged in the publishing and distribution of newspapers in Denmark, with minor activities in England, Sweden and Germany. The Companyâs activities are structured into two segments, namely Print and Online. The Print segment consists of the distribution activities of FK Distribution, as well as printing the newspapers of Sondagsavisen, Helsingor Dagblad and Lokalavisen Nordsaelland. Through Bekey A/S it develops an electronic key system used for stairway entrance doors and private doors. The Online segment consists of Ofir.dk, MatchWork.com, Sondagsavisen.dk, BoligPortal.dk, MinReklame.dk and BostadsPortal.se. The Company operates through its subsidiaries and joint ventures, including Helsingor Dagblad A/S, FK Distribution A/S, and BeKey A/S, among others. In November 2013, the Company acquired eight local newspapers from Berlingske Medier.