North Media

Earnings Release • Feb 5, 2015

The breakthrough of No Ads+ in 2014 is North Media's most important strategic
result for many years and is seen as the beginning of a turning point in
financial performance

Company announcement no 01-15

February 5, 2015

In a media and ad market characterised by fast-paced structural developments
and considerable changes, North Media maintained its earnings for 2014 and
successfully implemented strategically important business development
initiatives. North Media realised consolidated revenue of DKK 1,074 million,
and EBIT before special items amounted to DKK 55 million, which, in line with
expectations, was on a par with last year.

”Traditional advertising media such as TV, dailies and unaddressed printed
matter continued their decline in users. Consumers increasingly opt for
on-demand solutions, whereas the advertisers’ need to reach the broad
population is unchanged. This development creates a number of possibilities for
North Media. In 2014 as well, our top priority was to spearhead and develop the
business for the new realities in the media market,” says CEO of North Media,
Lars Nymann Andersen.

And the efforts have borne fruit. In 2014, FK Distribution’s new product, No
Ads+, achieved a significant strategic and commercial breakthrough, newspaper
activities saw considerable growth thanks to our acquisitions, and the
financial performance of the online activities was improved by DKK 18 million.
The Group holds a favourable position at the onset of 2015, when new ambitious
goals building on the results of 2014 are set to be realised.

”No Ads+ shows how North Media contributes to setting the agenda of the media
market’s development and exemplifies the type of product and service
development which is decisive for us in our efforts to fortify our market
position and future earnings capacity in all our activities. In that light, we
will continue to invest massively throughout 2015 and 2016. In the short run,
this will reduce earnings of the Group, but lay the foundation for achieving
earnings improvement for FK Distribution by 2016 and realising break-even for
the Online segment at year-end 2015,” Lars Nymann Andersen rounds off.

Please contact CEO Lars Nymann Andersen or CFO Kåre Wigh at +45 39 57 70 00 for
further information.

Yours faithfully
North Media A/S

Lars Nymann Andersen
CEO