Core Insights - North Media reported Q2 2025 revenue of DKK 342 million, slightly down from DKK 343 million in Q2 2024, with a stable trend in Last Mile services and a 2% increase in Digital Services driven by BoligPortal [1] - The company has revised its full-year revenue guidance for 2025 to DKK 1,270–1,315 million, down from the previous range of DKK 1,280–1,337 million, while EBITDA and EBIT guidance has been upgraded [2][5] - The improvement in EBITDA and EBIT is primarily due to enhanced operations at SDR, leading to more stable planning and lower unit costs, with Bekey also contributing positively [3] Financial Performance - Q2 2025 EBITDA was DKK 48 million, down from DKK 61 million in Q2 2024, and EBIT was DKK 32 million compared to DKK 44 million in the previous year [1] - The revised guidance for 2025 includes EBITDA expectations of DKK 105–130 million, up from DKK 80–115 million, and EBIT expectations of DKK 50–75 million, up from DKK 25–60 million [2][5] Business Segments - North Media operates in two main business areas: Last Mile, which includes FK Distribution and SDR Svensk Direktreklam, and Digital Services, which encompasses BoligPortal, Dayli (MineTilbud), and Bekey [7] - The Last Mile segment is experiencing a slight loss in volumes, while growth in Digital Services, particularly BoligPortal and Dayli, has been lower than expected [4]