Egmont realised its highest revenue to date in 2015. Revenue totalled EUR 1.6bn – an increase of 5.2% in local currency in a media market characterised by intensified global competition and changing consumer patterns. All Egmont business divisions achieved strong results: Nordisk Film delivered record high revenue and a strong result, Egmont Publishing increased earnings and generated growth from new businesses, Egmont Books recorded growth, and TV 2 strengthened its position with significant digital growth.
Profit before interest, depreciation and amortisation (EBITDA) amounted to EUR 190m. The pre-tax profit (EBT) totalled EUR 102m. Overall, the 2015 result was the second best to date, only surpassed by the extraordinarily strong result in 2014, which was positively affected by non-recurring items in TV 2.
”It is very satisfactory that we achieve revenue growth for the fourth consecutive year in a globalised media market, and that we are able to maintain a strong result. Our core business (magazines, film, TV and books) is healthy, but it is challenged by new consumer patterns, increasingly more expensive rights, and fierce global digital competition. We have made targeted efforts to create new businesses that contribute positively to our growth and also help create the foundation for a strong Egmont in the future. At the same time we are transforming our existing media business. We are pleased that we are able to strengthen our media business and at the same time donate EUR 12m for initiatives targeted at children and young people as well as support for film talents,” says Steffen Kragh, President and CEO.
All Egmont divisions developed their core business, launched new digital businesses and increased direct consumer relationships in 2015:
Nordisk Film produced a number of blockbuster films. A War was nominated for an Oscar, and several other films received prestigious Danish and international awards. In Denmark and Norway, people flocked to the cinemas, which enjoyed a record-breaking year with tickets sales totalling 9.8 million. PlayStation 4 generated excellent sales while digital revenue from electronic sell through, video on demand and the gift card business GoGift.com increased, and the cinema clubs achieved a strong rise in memberships.
TV 2 generated all-time-high revenue in 2015 measured in local currency and achieved very strong digital growth from its streaming service Sumo and from tv2.no. TV 2 strengthened the premium business significantly with the acquisition of the C More business in Norway and, overall, TV 2 is Norway’s largest commercial media house.
Egmont Publishing developed its weeklies and magazine business and registered solid results combined with a strong development in both digital and print subscriptions. Investments were made in content marketing companies, and the e-commerce companies also showed a strong positive trend. Egmont Publishing is the second-largest magazine publisher in Denmark and Sweden, market leader in Norway and holds leading positions in e.g. the UK, Germany and Poland.
The publishing houses Lindhardt og Ringhof in Denmark and Cappelen Damm in Norway published prominent titles and delivered solid results and digital growth. Lindhardt og Ringhof focused on e-books and started an ambitious campaign to digitise more than 15,000 titles in the course of two years.
”Egmont’s strength is media content and technology. We meet the modern consumer on all platforms with journalism, literature, sports, entertainment and unique experiences. I am proud of the creativity and innovation generated by Egmont’s 6,600 employees as we move from local to global competition. Our innovation efforts bring us into business areas characterised by strong underlying growth, and our eyes are also keenly focused on potential new acquisitions and investment opportunities,” says Steffen Kragh.
Egmont’s equity amounted to EUR 755m in 2015, and the equity ratio came to 47 %. Egmont is free of debt.
In 2015, Egmont granted donations of EUR 12m for projects targeted at support for vulnerable children and young people as well as film talents through Nordisk Film Fonden, amounting to EUR 0.6m. Through the signature project ”Learning for Life”, almost 200 children and young people have now participated in intensive learning camps and have a personal mentor. The Egmont Report 2015 focused on children and young people with learning difficulties. Since 1920, Egmont has donated a total of EUR 356m.
Key figures in mEUR
|Profit before interest, depreciation and amortisation (EBITDA)||190||237|
For further information:
Jesper Eising Head of Press, Communications & Public Affairs
+45 29 60 30 19
Line Aarsland Vice President, Communications & Public Affairs
+45 24 40 74 71