contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


north-media-one-pager-sdr-write-downs-halt-dividend-as-integration-continues

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Equity Research Analyst

Philip Coombes

Head of Research, Stables

Rasmus Køjborg

North Media A/S develops and operates platforms for transactions that bring businesses and consumers together. The platforms help customers find the right products, whether they are looking for groceries, rental housing or digital access management solutions.  
North Media is a market leader and has been listed on OMX Nasdaq Copenhagen since 1996. North Media’s focus is long-term value creation and stable return on capital and has a policy to pay out dividend based on the financial performance.
North Media is organised into two business areas:
1)  Last Mile comprises FK Distribution and SDR Svensk Direktreklam and both companies are among the leading distributors of leaflets and local newspapers in Denmark and Sweden, respectively. Last Mile is a mature business area with solid earnings and cash flows. 
2) Digital Services consists of BoligPortal, Dayli and Bekey, all with the potential for growth, rising profitability, and scalability. BoligPortal is Denmark’s leading home rental 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.
North Media has a strong focus on sustainability and ESG reporting, including the group’s impact, risks and opportunities within climate, environment, social matters and governance. North Media is committed to the Science Based Target initiative with the aim to reduce total CO2 emissions by 50% nominally by 2030 compared to 2018, and to achieve net-zero emissions by 2050.

North Media

Read the latest North Media One-pager, which includes a brief description of North Media, an update on the company's development in FY2024, the latest financials, valuation perspectives relative to a peer group, and several key investment risks and key investment reasons.

Read the latest North Media One-pager, which includes a brief description of North Media, an update on the company&apos;s development in FY2024, the latest financials, valuation perspectives relative to a peer group, and several key investment risks and key investment reasons.
While cash flows from FK Distribution remained strong in 2024, overall it was a challenging year with a DKK 155m SDR write-down, Bekey losses, a halted dividend, and the Ofir sale (DKK 20m). Guidance for 2025 suggests it will also be somewhat of a turnaround year as North Media aims to further automate SDR aiming for a positive EBIT in the acquired business unit from 2026 onwards. However, North Media still trades at a very low valuation with cash and securities roughly in line with the market capitalization.
To learn more about North Media, its performance in 2024, and the outlook for 2025 and beyond, catch up on the latest FY2024 presentation with North Media CEO Lasse Brodt and Group CDO Martin Tobberup.&#xa0;Link:&#xa0;https://www.inderes.dk/videos/north-media-praesentation-af-arsregnskabet-2024
Disclaimer: HC Andersen Capital receives payment from North Media for a DigitalIR/corporate visibility subscription agreement. / Philip Coombes 14:08 18.03.2025