NHST GROUP’S DEVELOPMENT IN THE FOURTH QUARTER OF 2021

• 4 per cent increase in user market revenues in the media businesses
• 15.6 per cent increase in advertising market in the fourth quarter
• The media businesses and the SaaS businesses are both investing in product and organizational development
• Group revenues increased by 2.7 per cent compared to quarter four, 2020
• Group EBITDA was NOK 8.9 million for the fourth quarter and NOK 66.5 million for the full year
• New organization structure implemented, strengthening business development across publications and enabling faster growth.
• NHST Media Group AS was renamed to NHST Holding AS

During the fourth quarter 2021, the Group implemented a new legal structure as well as a new organizational structure for the media business. The purpose of the changes is to strengthen the business development across the media entities and position the group for profitable growth.

Following the changes, the Group reports its business in two business segments, Media and Software-asa-Service (SaaS).

The consolidated Group achieved net sales of NOK 289.5 million in the fourth quarter, an increase of 2.7 percent from the fourth quarter 2020.

For 2021 as a whole, consolidated revenues were NOK 1 084.9 million compared to NOK 1 088.8 million for 2020. Adjusted for the sale of Morgenbladet as of June 30, 2020, total revenues for the year show a growth of NOK 30.9 million equal to 2.9 per cent.

Group EBITDA in the fourth quarter was NOK 8.9 million, compared to NOK 22.0 million in the fourth quarter 2020. The reduction was due to cost increases in parts of the media organization as well as lower recognized revenues in the SaaS businesses.

For the year, Group EBITDA ended at NOK 66.5 million versus NOK 68.4 million last year. EBITDA before non-recurring items was NOK 53,0 million versus NOK 74,0 million in 2020. The reduction was mainly due to lower recognized revenues in the SaaS businesses, as a result of a weak market situation for sales of new subscriptions during 2020. New sales of subscriptions in the SaaS business were however improving towards the end of the year.

The Group` s liquidity at the end of quarter four was strong with bank balances amounting to NOK 293,2 million.