NHST Media Group - Quarterly Report 1st quarter 2016

Highlights for the quarter

• Total revenues decreased by 3 % to MNOK 308 in the quarter, but adjusted for one-off effects in 2015 the revenue was flatlined.
• Revenue from the news publications decreased by 11 % to MNOK 221 – primarily advertising revenue.
• Media service revenue increased by 21 % to MNOK 87.
• This has been a challenging quarter for advertising revenue in both DN and Global, which, combined, had a decrease of 19 %, while Mynewsdesk was the Group’s growth driver with revenue growth of 46 %.
• The EBITDA for the quarter was a loss of MNOK 8, which was down MNOK 12 adjusted for one-off effects.
• The quarter saw an operating loss of MNOK 19, also this, a decline of MNOK 12 adjusted for one-off effects.
• To improve overall profitability a new productivity initiative has been launched in the Group with a 5 % productivity improvement target for comparable activities, equal to efficiency gains of MNOK 65 on an annual basis.
• NHST has sold its shares in TDN Finans AS and Intstream Oy with effect from April and the total gain from the transaction amounting to MNOK 19 will be booked in the second quarter.
• From April, Morgenbladet will be integrated in the Group following NHST’s acquisition of 90.1 % of the shares as at the same date.
• There is extensive ongoing digital product development in all business areas, and product launches such as DN Investor are being made on a continuous basis.