North Media - Feedback from ABGSC’s Investor Day
Strong fundamentals intact for three-year strategy Aims to increase digital services by DKK 200m in M&A Bekey’s stairwell segment is now increasingly interesting 2020: a solid milestone with North Media’s highest EBIT ever North Media was represented by the group executive director/CFO and the CEO of FK Distribution and NM Online at ABGSC’s Investor Day. 2020 was a year of contrast with a particularly negative COVID-19 impact in Q2’20 where volumes decreased by 15%. However, with the company’s adjustment from twice weekly deliveries to deliveries once a week, the group delivered its highest EBIT performance ever. As a result, the company paid a dividend of DKK 5/share (~6% yield) and remains to have an equity position of ~DKK 600m.
In connection with the recent annual report and three-year strategy, the company reserved DKK 200m to invest in new digital service ventures. This will be concentrated on digital services, as it seems consolidation opportunities or potential to add new services to FK Distribution are currently limited. The company also reiterated that the agreement with Deutsche Post is not a ‘game changer’ but an opportunity to explore new revenue streams by expanding its geographical presence.
FK Distribution is thus expected to deliver originally stable/flat revenue and earnings in its three-year strategy. Aims to become a Nordic full-service rental platform At the seminar, management said that it is looking businesses that are complementary to its digital services in order to deepen the company’s value chain (e. g.
towards subscription businesses) in its domestic market or new operations outside Denmark. With a focus on transforming its Danish BoligPortalen company to a subscription-based service, the company also revealed its particular interest in scaling its Swedish operations (Bostadsportal. se that grew ~60% in 2020) with add-on tenant/landlord services.
In addition, the management said we will likely before Q2-21, learn about the new col.