NHST Media Group - Quarterly Report 2nd quarter 2017

Highlights from the quarter

• The second quarter was in total a stable quarter for both revenues and operating results, adjusted for one-time effects.
• Advertising revenues were lower than in the same quarter last year, but was compensated by increased revenues in Mynewsdesk.
• Total revenues for the quarter were MNOK 335. This was a decline of 8 % as against the same period last year. Adjusted for currency and one time effects the decline was 1.5 %.
• Growth in subscription revenue was 4 % in the second quarter. Subscription revenue comprised 57 % of the revenue for the second quarter, up from 50 % for the same quarter last year.
• The Group's media service revenues were stable compared to last year, with growth in Mynewsdesk of 14 % and a decline in Nautisk of 8 %.
• Advertising revenue was down 12 %. Revenue from both digital and paper advertising declined.
• EBITDA for the quarter was a profit of MNOK 36, which was an increase of MNOK 2 adjusted for one-off effects in the second quarter of 2016.
• The operating result for the quarter was a profit of MNOK 24, an increase of MNOK 2 adjusted for one-off effects in 2016.
• Accumulated operating profits were MNOK 24, an improvement of MNOK 21 over the same period last year adjusted for one-off effects.
• Nautisk launched its new navigation product "NaviPlanner" during the Nor-Shipping trade fair in May, thereby completing its portfolio of digital Products