Preliminary financial results for 2025 and guidance for 2026

Company announcement no. 2-2026

23 February 2026

North Media announces preliminary, unaudited financial results for 2025 as well as the financial guidance for 2026.

Preliminary and unaudited financial results for 2025 and guidance for 2026

DKKm	2025	Guidance for 2026
Revenue	1,296	1,267 – 1,333
EBITDA	125	133 – 175
EBIT	66	75 – 117

North Media delivered revenue and operating profit (EBIT) for 2025 in the line with the latest guidance, which amounted to revenue of DKKm 1,270 – 1,305, an EBITDA of DKKm 105 – 126 and an EBIT of DKKm 50 - 70.

North Medias revenue was in line with 2024. In Last Mile (FK Distribution and SDR) the revenue fell by 1% to DKK 1,132m., due to an expected decrease FK Distribution’s volume. Despite a significant decrease in volume, SDR increased its revenue by 2%, mainly driven by the insourcing of local sales from franchises and price increases on printed matter and local newspapers. EBITDA was reduced by 19% to DKK 125m, primarily affected by the costs of integrating SDR and the lower revenue in FK Distribution. EBIT was DKK 66m, a improvement from DKK -75m in 2024, which was impacted by an impairment of DKK 155m on the carrying amount of assets in SDR. The EBIT margin was 5.2%.

In the Digital Services business area (BoligPortal, Dayli and Bekey) revenue grew by 1% to DKK 164m. A growth of 4% in BoligPortal outweighed a decline of 13% in Dayli and a flat development in Bekey. EBITDA grew to DKK 9m from DKK -11m in 2024, an improvement driven by reduced losses in Dayli and Bekey through the lowering of operating-, sales- and marketing costs, as well as other effects of Bekey’s turnaround. This improvement also had a positive impact on EBIT, which grew to DKK 4m from DKK -17m in 2024. The EBIT margin was 2%.

The Group’s unallocated costs amounted to DKK 23m, and in line with 2024.

Based on the financial result in 2025 and the target of paying a dividend that reflects earnings from ordinary operations before return on securities, the Board proposes a dividend of DKK 1.25 per share.

Financial guidance for 2026
North Medias guidance for 2026 is:

• Revenue: DKK 1,267 – 1,333m
• EBITDA: DKK 133 – 175m
• EBIT: DKK 75 – 117m
  
  

Revenue is expected to be in line with 2025. The development in Last Mile is expected to be flat whilst growth is expected in all companies in the Digital Services business area.

An increase in EBITDA is expected across all companies, positively impacted by the strategic initatives launched and implemented in 2025. An increase in EBIT is expected accordingly.  

The annual report for 2025 is expected to be published on 25 February 2026.

For further information, please contact:
Group CEO, Lasse Ingemann Brodt, tel. +45 2024 3292 

This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.

North Media develops and operates platforms for transactions that bring businesses and consumers together. These platforms help consumers find the right products, whether they are looking for groceries, rental housing or digital access management solutions. North Media has two core business areas: Last Mile: FK Distribution and SDR Svensk Direktreklam Svensk Direktreklam are among the leading distributors of leaflets and local newspapers in Denmark and Sweden, respectively. Digital Services: Three businesses with the potential for strong growth, rising earnings and scalability: BoligPortal is Denmark’s leading home rentals platform, offering services to both landlords and tenants. (Dayli) MineTilbud is a leading digital offer platform. Bekey provides digital access solutions for secured stairwells and private homes for the use of homecare services and companies delivering parcels, groceries, meal services, etc.