NEW YORK, July 14, 2021 (GLOBE NEWSWIRE) — Argus Research, an independent investment research firm, has launched Equity Research Report coverage on North Media A/S (Nasdaq Copenhagen: NORTHM)
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COMPANY HIGHLIGHTS: Excerpts (as conveyed by Argus Analyst Steve Silver) include:
North Media has used earnings and cash flow from its mature Last Mile local advertising unit in Denmark to develop its faster-growing Digital Services businesses, including home rental and job search platforms.
We expect the Digital Services unit to post double-digit revenue growth and more than 20% net income growth over the next several years. Digital Services EBIT improved from negative 1.4 million DKK in 2019 to positive 18.4 million DKK in 2020 and the EBIT margin rose to 14.0% from negative 1.3% in 2019.
We believe North Media’s commitment to solid cash dividends and occasional buy backs, have been underappreciated by investors. The current annualized dividend of 5 DKK per share yields more than 4%. Since 2017, North Media has returned nearly 300 million DKK to investors through dividends and stock buybacks.
INVESTMENT THESIS excerpts (Click Here to view full Argus Equity Research Report):
North Media, established in 1965, has built a diverse portfolio of companies that link businesses and consumers in Denmark. Its FK Distribution unit operates Last Mile, a distribution service that delivers direct-mail and leaflets to practically households across the country. Its smaller, but fast-growing Digital Services unit includes BoligPortal, a Danish home rental platform; Ofir, a job search platform; and Bekey, a provider of digital access solutions for multistory buildings and private homes. North Media is using cash generated by FK Distribution (85% of 2020 revenue and 90% of group EBIT) to develop its newer digital businesses. We expect the unit, which has recently become profitable, to account for up to 25% of revenue over the next 2-3 years, up from 13% in 2020.
About North Media A/S (Nasdaq Copenhagen: NORTHM)
North Media A/S, established in 1965, has built a diverse portfolio of companies that link businesses and consumers, primarily in Denmark and other Nordic countries. Its FK Distribution unit operates Last Mile, a distribution service that delivers direct mail and leaflets to consumers. Its Digital Services unit includes BoligPortal, a Danish home rental platform; Ofir, a job search platform; and Bekey, a provider of digital access solutions for multistory buildings and private homes.
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Argus Research Co. has received a flat fee from the company discussed in this report as part of a Sponsored Research agreement between Argus and the company. No part of Argus Research’s compensation is directly or indirectly related to the content of this assessment or to other opinions expressed in this report. Please refer to the full Argus report and the disclaimer for complete disclosures.