Company announcement no. 01-2021
10 February 2021
The Board of Directors of North Media A/S has approved the audited annual report for 2020. Highlights of the report:
Record earnings in 2020
The Group recorded its best ever EBIT and full-year net profit in 2020. FK Distribution delivered most of the improvement, driven by efficiency enhancements. North Media Online (BoligPortal and Ofir) trebled its EBIT, driven by strong growth, and Bekey reduced its EBIT loss despite expansion costs.
Earnings in 2021 expected in line with 2020
North Media expects its consolidated EBIT in 2021 to be in line with 2020 on slightly lower revenue.
Strategy and ambitions for 2022 and 2023
For Digital Services, we are looking for ~20% organic growth annually and for the EBIT margin to climb to ~25% by 2023. For Last Mile, we aim for 2023 revenue at the 2021 level with the EBIT margin at the ~24% level.
“We see an exciting growth potential for our Digital Services businesses. In focusing the North Media businesses in recent years, we have strengthened the digital platforms and established a strong infrastructure. Our businesses are now ready to be upscaled in Denmark, potentially followed by a move to international markets. Our growth businesses are supplemented by our value business FK Distribution, whose advanced logistical platform will enable it to continue to strengthen its core business while also developing new services, including expanding the relationship with Deutsche Post and potentially also providing packing services for third parties in adjacent markets.”
For further information, call
Kåre Wigh, Group Executive Director & CFO, on mobile +45 25 65 21 45, e-mail: kw@northmedia.dk
This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.
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