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]

Group 1 - Ole Borch will step down as Chairman of North Media in the second half of 2025, transitioning to a new role as Chairman of a foundation expected to take over majority shareholding in North Media from Baunegård ApS [1] - The Board of Directors of North Media will consider and announce a new Chairman to succeed Ole Borch [2] - Ole Borch will remain in his position until the transition to the new Chairman takes effect [2] Group 2 - North Media operates platforms that connect businesses and consumers, helping consumers find products such as groceries and rental housing [4] - The company has two core business areas: Last Mile, which includes leading distributors of leaflets and local newspapers in Denmark and Sweden, and Digital Services, which encompasses growth-oriented businesses like BoligPortal, Dayli, and Bekey [4] - BoligPortal is Denmark's leading home rentals platform, while Dayli is a prominent digital offer platform, and Bekey provides digital access solutions for secured areas [4]

Core Insights - North Media Group's Q1 2025 performance met expectations, with FK Distribution experiencing a decline in printed matter volumes and ongoing automation in packing for Sweden [1] - BoligPortal in Digital Services showed a positive trend with a 10% revenue growth, while overall EBITDA remained stable [1] Financial Performance - Q1 2025 revenue was DKK 310.5 million, down from DKK 318.9 million in Q1 2024 [1] - EBITDA decreased to DKK 10.6 million from DKK 40.9 million year-over-year [1] - EBIT fell to -DKK 1.4 million, resulting in an EBIT margin of -0.5%, compared to 3.8% in Q1 2024 [1] - Cash flows from operating activities were -DKK 23.0 million, a decline from -DKK 3.5 million in the previous year [1] - Free cash flows also worsened to -DKK 35.4 million from -DKK 3.3 million [1] Business Area Performance - Last Mile revenue was DKK 267 million, a 3% decrease, impacted by a customer discontinuing printed matter and late Easter [2] - EBITDA for Last Mile dropped by 70% to DKK 12 million, influenced by lower revenue and increased payroll costs [2] - EBIT for Last Mile fell to DKK 3 million, with an EBIT margin of 1% [2] Digital Services Performance - Digital Services revenue grew by 3% to DKK 44 million, driven by BoligPortal's 10% growth [3] - BoligPortal's growth was supported by partnerships and DataInsights [3] - EBITDA improved by DKK 1 million to DKK 2 million, mainly due to reduced losses in Bekey [3] Financial Guidance - The full-year financial guidance for 2025 remains unchanged, with revenue expected between DKK 1,280 million and DKK 1,337 million, EBITDA between DKK 80 million and DKK 115 million, and EBIT between DKK 25 million and DKK 60 million [4]