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.