North Media Q2 2026: Revenues and EBITDA Down as Sales Volumes Drop

North Media, the Danish media group behind FK Distribution, BoligPortal, Dayli, SDR and Bekey, revised its guidance downwards for the second half of the year after a disappointing second quarter.

Highlights for the quarter include:

• Revenues were DKK 314 million (USD 48.9 million), down 9% year-on-year
• Gross Profit was DKK 150.8 million ($23.5m), down 11%
• EBITDA was DKK 27.1 million ($4.2m), down 44%
• Digital Services revenue was DKK 41.7 million ($6.5m), down 2.7%
  • of which, Boligportal revenues were DKK 29.3 million ($4.5m), flat YoY
• Digital Services EBITDA was DKK 1.4 million ($218k), down 18%
  • of which Boligportal EBITDA was DKK 6.9 million ($1.1m), down 30%

Highlights for the year-to-date include:

• Revenues were DKK 608 million ($94.8m), down 7% year-on-year
• Digital Services revenue was DKK 84.6 million ($13.2m), down 1.3%
  • of which Boligportal revenues were 57.2 million ($8.9m), down 2%
• Digital Services EBITDA was DKK 4.9 million ($764k), up 188%
  • of which Boligportal EBITDA was DKK 12.2 million ($1.9m), up 37%

Boligportal, Denmark's leading rentals marketplace, saw "as expected" revenue declines after sales volumes declined year-on-year. Boligportal's second quarter revenues were flat year-on-year, and down marginally for the first half of the year, impacted by low vacancy rates nationwide. BoligPortal’s revenue consists of subscription-based income from the platform’s marketplace
and income from various subscription-based Saas solutions.

Q2 follows a difficult Q1, the portal's second consecutive quarter of revenue decline.

However, North Media did reveal that the group's new 'Pro' concept generated growth for the period.  Boligportal Pro adds a property management and rent collection arm to the core portal offering for landlords.

Also at Boligportal, the portal's project letting concept, which was launched in Q3 2025, recorded satisfactory growth, while North Media attributed lower EBITDA to one-off costs for the ReData case and continued investments in a single universe for landlords and tenants.

North Media recently appointed executive director Martin Tobberup as interim CEO for Boligportal after the resignation of incumbent Anders Hyldborg.