North Media A/S Announces Sale of Ofir to Jobindex A/S
In a significant move, North Media A/S has confirmed that it has reached an agreement with Jobindex A/S to sell all commercial activities associated with Ofir A/S. This transaction enables Jobindex to acquire not just the brand but also all customer relationships, advertising content, and extensive user data from the site www.ofir.dk.
Details of the Transaction
The acquisition includes 11 commercial employees of Ofir, ensuring continuity during the transition. To foster a smooth shift for customers, Jobindex plans to retain the Ofir website, brand, and logo throughout this period. The total sales amount is set at DKK 20 million, reflecting the value of the transition.
Market Position and Strategic Vision
Ofir has long been recognized as a pioneer in the online job advertisement market since its foundation in 1996. The CEO of North Media, Lasse Ingemann Brodt, emphasized that this acquisition aligns perfectly with the evolving landscape of digital platforms in Denmark. The deal facilitates Jobindex in becoming a more robust and scalable player in the online job market, further strengthening both companies' positions.
Implications for North Media's Financial Outlook
As indicated in the recent Interim report for the 3rd quarter, North Media anticipates that Ofir will generate a turnover of DKK 30-33 million for 2024. However, the operating results for Ofir are expected to fall in the range of DKK -17 to -14 million.
Impact on Overall Financial Expectations
Despite the sale of Ofir, North Media's financial outlook for the overall company remains unchanged. The projected turnover for 2024 is between DKK 1,315-1,340 million, with an EBITDA of DKK 140-160 million and an operational EBIT of DKK 65-85 million. Notably, the sales revenue from Ofir will contribute to North Media's income in the financial accounts of 2025.
Upcoming Reports and Key Contacts
North Media is set to publish its annual report for 2024 on 12 March 2025, providing further insights into its financial performance and strategic directions. For additional details regarding the transaction, interested parties can contact CEO Lasse Ingemann Brodt at +45 20 24 32 92 or CFO Kåre Wigh at +45 25 65 21 45.
About North Media
North Media operates various platforms aimed at connecting businesses with consumers, ultimately enhancing the shopping experience across multiple sectors. Their focus is on facilitating consumers' access to essential products and services, spanning groceries, housing rentals, employment opportunities, and digital access solutions.
Core Business Areas
The company centers its operations on two main areas:
- Last Mile: With FK Distribution and SDR Svensk Direktreklam, North Media is a leader in distributing local advertisements and publications in Denmark and Sweden.
- Digital Services: This area includes promising businesses such as BoligPortal, which specializes in home rentals, and Bekey, which provides secure digital access for residential and service-oriented needs.
Frequently Asked Questions
What are the key details of the sale of Ofir?
North Media A/S sells Ofir to Jobindex A/S for DKK 20 million, including customer data and 11 employees, ensuring smooth customer transitions.
How will the sale affect North Media's finances?
The sale doesn't alter North Media's overall financial expectations for 2024 but will generate income for 2025.
What is Jobindex's plan for Ofir post-acquisition?
Jobindex will retain Ofir's branding and operations during a transition phase to ensure continuity for existing customers.
What are North Media’s other business areas?
North Media focuses on last-mile distribution and digital services, including rental platforms and secure access solutions.
When will North Media publish its annual report?
The annual report for 2024 is scheduled for publication on 12 March 2025, detailing financial performance and strategic initiatives.
