North Media: Lower dividends reflect a tough '23 - ABG
Reached '22 guidance, but disappointing '23 guidance Proposed DPS of DKK 4.0/share reflects uncertainty We cut 15% EBIT for '23e, 3-5% in '24e-'25e
ANNONS
Q4 broadly in line; lower end of '22 guidance reached
Prelim. FY'22 revenues and EBIT had already been announced on 6 February. Q4 was broadly in line with ABGSCe, with revenues of DKK 259m coming in 2% below ABGSCe, while EBIT of DKK 62m came in 3% below ABGSCe, corresponding to an EBIT margin of 24%. As such, the FY'22 guidance was reached, albeit landing at the lower end.
