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The NHST media group, owner of newspapers such as Dagens Næringsliv og Morgenbladet, recorded a positive operating profit of NOK 13 million in the second quarter, compared with NOK 23.7 million the previous year
. 19659002] This means that NHST ended the first half of 2018 with a negative operating profit of -3.3 million NOK. In the first quarter, NHST achieved an operating profit of NOK 16.5 million, compared with a nil result last year
- Norwegian media group, which owns Dagens Næringsliv and Morgenbladet.
- Also has publications in shipping, seafood, oil and gas, with IntraFish, Europower, Upstream and TradeWinds.
- The NHST Media Group is spread all over the world with shopping centers and editorials not only in Norway but also in London, Stanford, Houston, Seattle, Singapore, Stockholm and Hong Kong.
- According to the 2017 Annual Report, the Group had close to 750 employees, trading well over $ 1.3 billion. The operating margin was 2.5%.
- Fred. Olsen Happiness is the largest owner of NHST, with 53.99% of the shares.
- Nest's largest shareholder is Must Invest, which owns 21.75%.
- Anette Olsen is Chair of the NHST Board of Directors.
Source: NHST and Proff
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Part of the cost of the quarter was related to the final package of former CEO Gunnar Bjørkavåg, which cost eight million crowns in "total retirement benefits".
He left in January, a few months after the criticism for their statements in a DN article on the low participation of women in the media industry.
Revenues in the second quarter were relatively stable – NOK 332.5 million this year, compared with NOK 334.4 million the previous year.
Growth in DN and Morgenbladet
Norwegian publications in the NHST, Dagens Næringsliv og Morgenbladet, achieved a turnover of NOK 169.3 million in the second quarter, a growth of 4% over in the previous year
the depreciations (ebitda) closed at 22.5 million NOK in the second quarter, against 25.1 million NOK in the same quarter of last year.
"The underlying trend of the advertising market remains negative for traditional products. The group also sees good opportunities in the development and sale of new advertising and content marketing products, "the group writes in its quarterly report.
The MyNewsdesk internet service has been a big winner in the DN group in recent years. But in the first half of the year, the growth rate has slowed somewhat. In the second quarter, MyNewsdesk's revenues were NOK 54 million, down 4% from the previous year.
Operating result before depreciation and amortization of $ 0.3 million, compared to $ 3.5 million the year before
– Second quarter performance is slightly better than the first quarter, particularly in terms of income. The advertising market is still variable, while the development of Mynewsdesk was weaker than before, writes finance director Hans Lysheim in an email to DN
Leadless
NHST board seeks new CEO after the closure of Gunnar Bjørkavåg in January
Last week, it became clear that Svein-Thore Gran, who was responsible for the NHST's global publications, was finishing his work. In the direction of the group, Trond Sundnes, editor-in-chief of DN, was in charge of replacing Gran.
The chairman of the board, Anette Olsen, wanted in the news not to update the search for a new general manager. )
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