North Media: Still many unknowns, but looks like a good deal - ABG
Q4e: 3.5% y-o-y revenue decline, 16.7% EBITDA margin
Updating estimates after close of SDR acquisition
'24e-'25e revenues +50-51%, EBIT +10-17%; clarity in February
Q4e: -3.5% y-o-y revenue growth, 16.7% EBIT margin
We forecast Q4 revenues of DKK 250m (for -3.5% y-o-y growth), with the decline driven by our forecast of a 5.6% decline in FK Distribution. Q4e EBIT of DKK 42m corresponds to a 16.7% margin. We continue to expect North Media to achieve its FY'23 guidance.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/north-media/Equity-research/2024/1/north-media---still-many-unknowns-but-looks-like-a-good-deal/