NORTHMNasdaq CopenhagenPublishingIFRS · DKK

NORTH MEDIA A/S

NORTH MEDIA A/S is a Danish media and marketing group that operates businesses in local advertising, digital market places, and printing-related services. Its activities are centered in Denmark with additional presence in nearby Nordic markets through its operating subsidiaries and brand portfolio.

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Revenue1,296m DKK
−0.4 %y/y
Operating profit (EBIT)66.2m DKK
+188.4 %y/y
EBIT margin5.1%
+10.9 ppy/y
Net income66.2m DKK
+7.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-50005001,0001,500m DKK2021: 1,034 m DKK2021: EBIT 244 m DKK20212022: 995 m DKK2022: EBIT 192 m DKK20222023: 949 m DKK2023: EBIT 150 m DKK20232024: 1,301 m DKK2024: EBIT -75 m DKK20242025: 1,296 m DKK2025: EBIT 66 m DKK2025TTM 2026: EBIT 52 m DKKTTM52
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Advertising platforms40 %

Print and digital channels used by local advertisers to reach households and consumers.

Digital marketplaces25 %

Online classified and marketplace offerings that connect buyers, sellers, and advertisers.

Distribution services20 %

Door-to-door and targeted delivery of advertising materials and publications.

Printing and production15 %

Printing and related production services for advertising and publication materials.

Customers

North Media primarily sells to small and medium-sized businesses that need local reach, frequency, and measurable response from advertising. It also serves media buyers, agencies, and publishers that use its distribution and marketplace infrastructure to reach households and local audiences.

Local and regional advertisers

Buy ad placements and distribution to reach consumers in specific catchment areas.

SMEs

Use affordable local media, leaflet distribution, and marketplace tools for lead generation.

Agencies and media buyers

Purchase inventory and campaign reach across print, digital, and distribution channels.

Publishers and commercial partners

Use printing, circulation, or delivery capabilities for their own publications and campaigns.

Strategy

North Media's strategy is centered on maintaining relevant local reach while expanding the role of digital products and marketplaces. It also depends on using its distribution and media infrastructure efficiently so that local advertisers and partners continue to view the platform as a practical channel.

Grow digital marketplace activityMedium term

Digital products can broaden customer reach and diversify the revenue base beyond traditional print advertising.

Maintain local distribution efficiencyShort term

Delivery and circulation economics depend on route density and operational execution.

Preserve advertiser relevanceMedium term

Local businesses buy reach only if the platform delivers measurable audience access.

Geography

The group is anchored in Denmark, where most of its business activities and customer base are concentrated. Its operating model is tied to local market coverage and Nordic consumer behavior, so geographic density and route economics matter to execution.

Risks

The business is exposed to secular pressure on printed media and leaflet distribution as more advertising budgets move online. It also faces operational risk from route density, labor availability, and fixed-cost leverage in distribution and printing, while digital competition can pressure traffic, pricing, and customer retention.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Declining print advertising demand1Distribution cost pressure2Digital competition3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Declining print advertising demandImpact: HighLikelihood: High

    The company has exposure to traditional media products that can lose share to digital channels.

    Exposure: Advertising and print activities

  2. Distribution cost pressureImpact: HighLikelihood: Medium

    Physical delivery businesses depend on route density, fuel, labor, and logistics execution.

    Exposure: Flyer and publication distribution

  3. Digital competitionImpact: MediumLikelihood: High

    Online marketplaces and classified platforms compete for the same advertiser and user attention.

    Exposure: Digital classifieds

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Accounting

Judgemental items
Revenue recognition timing

Different services may be recognized at different points in the fulfillment cycle, affecting quarterly comparability.

Impact: Can shift revenue between periods

Impairment of intangible assets

Media brands and digital assets may need periodic impairment reviews if expected cash flows weaken.

Impact: Can materially affect reported earnings and equity

Seasonality

Advertising and distribution volumes can fluctuate with campaign calendars and household distribution patterns.

Impact: Can create uneven quarterly results

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Last updated: 24/10/2026

NORTH MEDIA A/S (NORTHM) Revenue, Earnings & Financials 2025 – Clarifo