News -
NHST Media Group - Quarterly Report Q3 2018
- Revenues in the third quarter were 3% up on the same period last year. The growth is due to a positive third quarter for advertising revenue, which rose 21% in the quarter. Digital advertising revenue was the main reason for the growth, but there was also a significant improvement in paper-based advertising for Global Publications.
- Subscription revenue fell by 2% in the quarter. Adjusted for exchange rate changes, the trend was stable for both Mynewsdesk and Norwegian Publications, while there was a small decline in Global Publications.
- EBITDA ended the quarter on NOK 12m, down NOK 7m.The decline was caused by lower profitability in Mynewsdesk, which was down NOK 7m. The operating loss for the quarter was NOK 1m.
- The French SaaS company Mention was purchased in the third quarter to strengthen the future development of Mynewsdesk.The initial purchase price was EUR 14m, with a future variable pricing element related to the combined business development up to and including 2020. The acquisition will contribute with strong digital knowhow, innovation and technology, as well as a global customer base to Mynewsdesk’s existing operation.
- Nautisk Forlag’s business has been sold to StormGeo with effect from 1 October. The net effect of the transaction will be recognised in the fourth quarter and is expected to contribute with a small profit. Year to date 2018, Nautisk has contributed with revenues of NOK 83m and an operating loss off NOK 12m to the Group’s consolidated numbers, while the corresponding figures for 2017 was NOK 95m and NOK 10m.
- Hege Yli Melhus Ask has been appointed as the new CEO of NHST Media Group. She comes from a position as Executive Vice President for the business area Privat of the insurance company Gjensidige Forsikring ASA. She will take up her post on 1 November.
