NHST Media Group - Quarterly Report 1st quarter 2017

Key points in the quarter

• Revenues for the quarter amounted to MNOK 322, an increase of 5 % from the same period last year.
• Advertising revenue decreased by 12 %, but were compensated by the growth in subscription revenue of 16 %. Subscription revenue now constitutes 60 % of total revenues, up from 55 % in the same quarter last year.
• EBITDA for the quarter was a profit of MNOK 13, which was MNOK 21 up on the same period last year. This was the fourth quarter in a row with improved operating result compared to the same period the previous year. The principal reasons for the improvement in the first quarter were the effects of the productivity program in DN with MNOK 9 and profitable revenue growth in Mynewsdesk with MNOK 8.
• The operating profit for the quarter was MNOK 1, and improvement of MNOK 19.
• The group’s media service revenues continue to grow and is now 40 % higher than the group’s advertising revenue, against 17 % higher in the same period last year.
• The Group continues to invest in technology development and the resources connected with digitisation, including a launch in Nautisk of its new digital navigation product NaviPlanner in the second quarter