Announcement no. 25-2020
Q3 2020 highlights (Q3 2019 comparative numbers in brackets):
- Consolidated revenue up by 7% to
DKK 261 million . All three business areas reporting growth. - FK Distribution reported 6% revenue growth, as the third quarter included an extra week of distributing retail leaflets and local newspapers. Volumes normalised after COVID-19 impact in the second quarter.
- North Media Online (digital platforms) and Bekey (digital access solutions) reported growth rates of 19% and 14% respectively. Ofir, Online’s jobs platform, reported 33% growth in the quarter.
- Consolidated EBIT before special items improved to
DKK 60 million (DKK 33 million ).
Q3 ytd 2020 highlights (Q3 ytd 2019 comparative numbers in brackets):
- Consolidated revenue up by 2% to
DKK 771 million (DKK 754 million ). - EBIT before special items of
DKK 182 million (DKK 101 million ). EBIT margin improved to 23.6% (13.4%); return on invested capital (ROIC) was 57.6% (28.5%). - Profit for the period of
DKK 219 million (DKK 131 million ) makes a 29.9% return on equity. - FK Distribution lifted EBIT to
DKK 177 million (DKK 107 million ) on unchanged revenue. Efficiency improvements, particularly the transition to a single weekly distribution round, offset the effects of a structural loss of volume. - North Media Online improved EBIT to
DKK 17 million (DKK 5 million ) on 18% revenue growth driven by BoligPortal and Ofir. Ofir has nearly completed its turnaround and was profitable in September. - Bekey reduced its EBIT loss to
DKK 5 million (DKK 8 million loss) on 22% revenue growth, particularly on sales to Danish municipalities. Bekey continues to build a presence in the rapidly growing market for home delivery of parcels, groceries, meal services, etc. – currently in positive talks with potential customers.
Guidance for 2020 narrowed
- Revenue now expected in the
DKK 1,020-1,045 million range (previous guidance:DKK 1,005-1,045 million ). - EBIT before special items now expected in the
DKK 230-245 million range (previous guidance:DKK 215-245 million ). - Double-digit growth in both North Media Online and Bekey expected to almost fully offset a 3% drop in FK Distribution revenue.
- All three business areas expected to report EBIT improvements.
- Increased level of uncertainty persists due to COVID-19 and the consequences of the pandemic.
“Thanks to broadly-based improvements across the Group, we are well under way to improving EBIT for the fourth consecutive year. North Media Online and Bekey both have momentum, reporting sustainable double-digit growth, and North Media Online is set to treble EBIT this year. In addition, FK Distribution is reporting much higher EBIT after we reduced our costs through the transition to a single weekly distribution round,” said Kåre
For additional information, please contact:
Kåre Stausø
This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.
Attachment
- 25-2020 Q3 2020 UK
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