North Media: Køber SDR Svensk Direktreklam AB og EGRO Konsult AB.
North Media meddelte i løbet af weekenden at selskabet køber Sveriges største distributør af tryksager og lokale ugeaviser - SDR Svensk Direktreklam AB og EGRO Konsult AB.
Sælger er Ge-Te Media Aktiebolag, og prisen er aftalt til SEK 350 mio. på gældfri basis, og med kontant betaling fra North Media. Handlen ventes afsluttet d. 29. december 2023, og ændrer derfor heller ikke North Media’s aktuelle guidance for 2023 om en omsætning på DKK 940-960 mio. og et EBIT på DKK 145-160 mio.
SDR ventes i 2023 at have en omsætning på ca. SEK 650 mio., samt EBITDA på ca. SEK 50 mio. For 2024 ventes højere omsætning og indtjening. Handlen sker således til EV/Sales omkring 0,54x og EV/EBITDA på 7,0x på de forventede 2023 tal.
SDR ventes i 2023 at omdele 1,2 mia. tryksager og 4,5 mio. lokale aviser i Sverige. De tilsvarende tal for FK Distribution i Danmark lyder på 1,3 mia. tryksager og 2,3 mio. lokale aviser.
North Media ventes at offentliggøre sit årsregnskab for 2023 – onsdag d. 28. februar 2024.
Disclaimer: HC Andersen Capital modtager betaling fra North Media for en Digital IR/Corporate Visibility abonnementsaftale. /Rasmus Køjborg, CFA kl. 07.42 d. 18/12-2023
North Media
North Media A/S develops and operates platforms and channels for business-to-consumer communications. The platforms connect customers with the right retail offers, rental houses, jobs and digital access systems. North Media is a market leader and has been listed on OMX Nasdaq Copenhagen since 1996. North Media’s focus is long-term value creation and stable return on capital and has a policy to pay out dividend based on the financial performance. North Media is organised into two business areas: 1) Last Mile comprises FK Distribution and SDR Svensk Direktreklam and both companies are among the leading distributors of leaflets and local newspapers in Denmark and Sweden, respectively. FK Distribution also operates the digital offer platform ‘minetilbud’. Last Mile is a mature business area with solid earnings and cash flows. 2) Digital Services consists of BoligPortal, Ofir and Bekey, all being companies with potential for significant growth, increased profitability, scale and expansion. BoligPortal is Denmark’s main platform for home rentals and services for landlords and tenants. Ofir connects employers and candidates on Denmark’s second-largest private jobs portal. Bekey offers secure digital access to locked stairwells and private homes for home care services, distributors of packages, groceries etc. North Media has a strong focus on sustainability and ESG reporting, including the group’s impact, risks and opportunities within climate, environment, social matters and governance. North Media is committed to the Science Based Target initiative with the aim to reduce total CO2 emissions by 50% nominally by 2030 compared to 2018, and to achieve net-zero emissions by 2050.
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