NHST Media Group - Quarterly Report 3rd quarter 2016

Key figures for the quarter

• Revenues for the quarter increased by 7 % to MNOK 316. Adjusted for acquired and sold companies in 2016, revenues increased by 3 %. Adjusted also for currency effects the increase was 1 %.
• Revenues in the Norwegian and global news publications increased by 8 % to MNOK 240. Adjusted for business acquisitions, the growth rate was 3 %. Adjusted also for currency effects the revenues were comparable with the same quarter last year.
• Media service revenues increased by 1 % to MNOK 76. Mynewsdesk had a revenue increase of 15 %, whereas Nautisk Forlag had a revenue decrease of 15 %.
• The EBITDA performance for the quarter was a profit of MNOK 23, which was MNOK 19 up on the same period last year. The main reasons for the improvement were lower costs in Dagens Næringsliv and Global Publications as well as revenue growth in Mynewsdesk.
• The operating profit was MNOK 10, up MNOK 17.

Other highlights

• Advertising revenue decreased by 2 % in the third quarter, against a decrease in the first and second quarters of 19 % and 10 % respectively.
• The productivity improvement programme in the Group continues and made a significant positive contribution to the result in the third quarter. The target is an annual productivity improvement of MNOK 75.
• The Group continues to invest in both digital product development and upgrades of platforms and systems that support the digital development. Investments in the form of capitalised development costs amounted to MNOK 8 in the third quarter.