North Media Q2 2025: Danish Rentals Specialist Boligportal Increases Revenues by 7%

North Media, the operator behind Denmark's leading residential rentals portal Boligportal, has released its financial statement for the second quarter of 2025.

Highlights include:

• Boligportal records revenues of $4.6 million, up 7.9% year-on-year
• Boligportal's EBIT was $1.4 million, at a margin of 31%
• EBITDA was DKK 8.9 million (USD 1.38 million), up 5% year-on-year

North Media said Boligportal's healthy revenue growth was driven by increased income from partnerships, while income from tenants "more than balanced out the expected decline in advertising revenue from landlords."

The company noted that the market for rental residential units "continued to be characterised by fewer housing ads and lower vacancy rates" than in the same period in 2024.

North Media said:

EBIT was up by 11%, driven by revenue growth, while capacity costs relating to the transformation towards a single universe for tenants and landlords increased. The universe is expected to deliver revenue and earnings growth in the long term.

Full-year guidance for Boligportal revenues fell slightly, from a minimum of DKK 123 million down to DKK 120 million, while upwards guidance is now expected to be closer to DKK 125 million as opposed to March's upwards guidance of DKK 129 million.

North Media also operates the Swedish rentals portal BostadsPortal. The portal reported a decline in revenue, but North Media says "efforts to firmly anchor the platform in the market continue."

North Media is characterised primarily by its Last Mile segment, while the Digital Services segment, including Boligportal, contributed just 9% of total group revenues in the first six months of the year. Last Mile revenues fell 5% year-on-year for the quarter.