North Media A/s · OMXCOP:NORTHM
North Media A/s — Shareholder Meeting (April 2024)
31 slides from North Media A/s's shareholder meeting presentation, Apr 12, 2024
Slide 1: Welcome to the Annual General Meeting
12 April 2024 North Media Annual General Meeting 2024 Welcome to the Annual General Meeting 12 April 2024 15:00 The presentation has been prepared in Danish and English. The Danish text shall be the governing text for all purposes, and in case of any discrepancy the Danish wording shall be applicabl
Slide 2: Welcome to the Annual General Meeting
12 April 2024 North Media Annual General Meeting 2024 Welcome to the Annual General Meeting Ole Elverdam Borch, 12 April 2024 Chairman of the Board
Slide 3: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 4: Management commentary
12 April 2024 North Media Annual General Meeting 2024 Management commentary Group CEO Lasse Brodt and CFO Kåre Wigh
Slide 5: 2023 was a good year
2023 was a good year Satisfactory financial results • Several of our businesses still feeling the effects of generally volatile market conditions • Improvements at BoligPortal. FK Distribution performed as expected • Increased focus on ESG reporting Strategy execution • Strong financial resources fo
Slide 6: Group Executive Board strengthened
Group Executive Board strengthened Accelerate execution of strategy • Building a stronger role for the Executive Board in 2022 and 2023 • Ensure faster decision-making processes, strategic execution and stronger coherence across the Group • Four members of the Group Executive Board: • Lasse Ingemann
Slide 7: Strategic ambitions
Strategic ambitions Creating value by investing in digital transformation and growth • Secure a strong capital structure to support growth • Capitalise on strategic growth opportunities Last Mile • Develop business operations and expand the markets for packing and distribution in Denmark and Sweden.
Slide 8: Last Mile: Acquisition of SDR
Last Mile: Acquisition of SDR Expanding the distribution business to cover Scandinavia • Ambition: Expand and revitalise FK Distribution’s business model in an international perspective • Consistent with the strategy to acquire, run and optimise high-volume businesses • PostNord pulled out of the Sw
Slide 9: SDR Svensk Direktreklam
SDR Svensk Direktreklam Sweden’s largest private-sector distributor of printed matters • Founded in 1976 • Nationwide distribution network, 34 offices including 11 franchisees. • Some 4,800 full- and part-time distributors, including the franchisees • Manual packing for each route vs. automated pack
Slide 10: FK Distribution
FK Distribution Financial results and strategic priorities • Reduced revenue and earnings • Market consolidation, prices of paper and ca.10% drop in volumes • Strong consumer interest in printed matters. NoAds scheme continues • Continued growth within the selected mail business • New software techn
Slide 11: Ofir
Ofir Financial results and strategic priorities • Revenue down by 15%, mainly due to fewer job ads in the private sector • Market for job ads affected by restraint and a focus on costs • Number of job ads at a record high 46,000+ in 2022 compared with 39,400 in 2023. • EBIT impacted by revenue perfo
Slide 12: Bekey
Bekey Financial results and strategic initiatives • Revenue down by 6% Homecare the biggest and most stable contributor • Standardised prices and terms fully implemented in Homecare segment • Performance in Distributors and Properties segments not satisfactory • EBIT impacted by efforts to build IT
Slide 13: BoligPortal
BoligPortal Financial results and strategic priorities • First year with revenue topping DKK 100 million mark; 14% growth • Revenue and EBIT growth driven by advertising income • Record-high number of leases and move-in/out inspection reports • Bostadsportal.se business did not grow as quickly as ex
Slide 14: Karman Connect
Karman Connect Financial results and strategic initiatives • 50%-owned by North Media • One of the largest loan-matching providers in the Nordics; presence in eight countries • 2023 financial results affected by consumers’ reduced disposable incomes and banks’ reduced risk tolerance in relation to n
Slide 15: Financial highlights 2023
Financial highlights 2023 Satisfactory financial results Group revenue (DKKm) Revenue down by 5% 1.033,6 995,3 949,1 • Last Mile revenue down by 6% • Digital Services revenue up by 4% 2021 2022 2023 EBIT (DKKm) EBIT impacted by reduced volumes in FK Distribution 244,4 and earnings setbacks in Ofir a
Slide 16: Dividend
Dividend Dividend of DKK 4 per share for 2023 financial year Dividend per share (DKK, year of payout) • Total payout of about DKK 72m, excluding treasury shares 5 5 • Payout ratio of 62% before return on securities 4 4 4 Total of DKK 451m distributed to shareholders in last five 2020 2021 2022 2023
Slide 17: Corporate Governance
Corporate Governance Board activities • 11 board meetings • Separate board meetings in the four operating companies • Range of meetings by the seven board committees • Complying with 37 of 40 corporate governance recommendations 17 12 April 2024 North Media Annual General Meeting 2024
Slide 18: Sustainability Focus: Environment
Sustainability Focus: Environment • CO2e reductions -20 to -25% -50% target SBTi Compliant% SBTi targets: Reducing nominal scopes Net zero 1, 2 and 3 emissions by 50% by 2030. Base year: 2018 2018 2023 2030 2050 • 100% renewable energy Objective: All electricity used for offices and production areas
Slide 19: Focus: Environment
Focus: Environment CO2e emissions and short-term plan for 50% reduction North Media’s CO2e emissions, scopes 1, 2 and 3 CO2e emissions (‘000 tonnes) 2018 to 2023 and reduction initiatives towards 2030 14 Scope 3 96% Scope 1 Scope 2 1% 3% 19 12 April 2024 North Media Annual General Meeting 2024
Slide 20: Guidance for 2024
Guidance for 2024 Group Comments and assumptions Revenue (DKKm) EBITDA (DKKm) EBIT (DKKm) • Guidance for Last Mile includes SDR Direktreklam 1,310-1,375 170-210 110-150 • EBITDA guidance reflects our commitment to profitability • Positive contribution from SDR partially/fully offset by slight setbac
Slide 21: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 22: Appropriation of profit
Appropriation of profit (DKKm) 2022 2023 Profit for the year 2.1 264.4 Profit for the year excluding return on securities 153.6 116.7 Dividend paid out/proposed (DKK per share) 4.0 4.0 Dividend paid out/proposed 80.2 80.2 Actual/proposed dividend payout excluding 48.0% 61.6% return on securities 22
Slide 23: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 24: Remuneration report
Remuneration report (DKK’000) 2022 2023 Board remuneration Ole Elverdam Borch (Chairman) 900 900 Richard Gustav Bunck (Vice-chairman) 350 350 Ulrik Holsted-Sandgreen 350 350 Ulrik Falkner Thagesen 400 475 Ann-Sofie Østbjerg Bjergby 450 463 Total board fees 2,450 2,538 Remuneration of the Executive B
Slide 25: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 26: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 27: Proposal to re-elect all five board members
Proposal to re-elect all five board members Information about the candidates for the Board of Directors is provided on pages 45-46 of the Annual Report and on the website under “Management” and Ole Elverdam Borch Richard Bunck Ulrik Holsted-Sandgren “General Meeting” Three members are considered to
Slide 28: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 29: Appointment of auditors
Appointment of auditors The Board of Directors proposes the re-appointment of PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab ("PwC") in accordance with the recommendation by the Audit Committee. The Board of Directors also proposes the appointment of PwC to provide a statutory repor
Slide 30: Agenda
Agenda 1. Presentation of the management commentary on the Company’s activities for the year 2023. 2. Presentation of the audited Annual Report and resolution to adopt the Annual Report. 3. Resolution as to the appropriation of profit or covering of loss, according to the adopted Annual Report. 4. P
Slide 31: Thank you for attending!
12 April 2024 North Media Annual General Meeting 2024 Thank you for attending!