ABG har mod betaling udarbejdet denne analyse af North Media:
- BoligPortal’s new product offering set to release potential
- Remains on the lookout to acquire new IT companies
- Capital structure remains solid, room for distributions
Milestone already achieved 6 months into 3-year strategy
Today’s ABGSC seminar saw North Media represented by the group executive director/CFO and CEO of North Media Online. The company is 6 months into its 2021-23 strategy and has already achieved several key strategic milestones. These include increasing the product mix in FK Distribution by expanding the partnership with Deutsche Post and further explore the potential to pack leaflets for 2m German households (albeit the limited revenue impact thus far). This remains a small market for now, but it is an important milestone in terms of North Media’s ability to engage new markets. The Digital Services segment has rolled out a number of new products, most notably in BoligPortal where a new SaaS platform has increased its revenue streams from 1 to 4. The company now provides a full ‘moving tool’ that includes partnerships with electrical (EWII), insurance (Tryg) and internet (Telenor) companies, making it convenient to rent or lease an apartment. Ofir continues to experience high growth in the Danish job market and is strengthening its data capabilities for job providers. Bekey has faced some phasing delays for its HomeCare market and COVID-19 reduced the speed of the digital locks’ installation and roll-out in the Copenhagen Stairwell segment.
Generalt om Commissioned Research: Bemærk, at man bør se bort fra eventuelle kursestimater i såkaldt commissioned research, og den underliggende analyse skal også tolkes med forsigtighed, da negative aspekter ikke nødvendigvis fremhæves.
