2026 Q3 - tulosraportti
7 päivää sitten
1,25 DKK/osake
Viimeisin osinko
2,57%Tuotto/v
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 4 | ||
| 7 | ||
| 134 | ||
| 3 | ||
| 6 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 26.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 4.11. | ||
2026 Q2 - tulosraportti 21.8. | ||
2026 Q1 - tulosraportti 12.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 4.11.2025 |
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
·3 t sittenWelcome to North Media! Here, hundreds of people work on distributing advertising, developing BoligPortal, and digitalizing access systems. At the same time, Jensen Huang can trip over his dick in China and wipe out an entire year of value creation in Denmark. At the end of September, North Media owned Nvidia shares worth around 300 million Danish kroner. A price drop of 10 % thus corresponds to 30 million kroner – almost twice as much as NM's profit after tax, excluding security returns, for the first nine months of the year. And Nvidia is just the beginning. Let's look at some of the others in the portfolio: * Microsoft: A weak Copilot launch could easily have a greater significance than if BoligPortal doubles the number of paying customers. * Apple: Tim Cook has turned a lack of innovation into a cash machine with sky-high margins. Richard Bunck has copied the recipe, just dropped the margins and sensible capital allocation. * Teradyne: The Americans make billions testing whether advanced technology works. Perhaps they can develop a test to find out why North Media still doesn't buy back its own shares at half price. * Amazon: Bezos has spent billions perfecting "last mile delivery". North Media has already mastered the last kilometer from distributor to mailbox. The longest distance nevertheless turns out to be between the company's real value and the shareholders' wallet. * SpaceX: We have even gained exposure to satellites and rockets. Are North Media and FK Distribusjon going to handle last mile delivery on Mars? Richard Bunck controls over half of the shares and has turned North Media into his own little Berkshire Hathaway. The difference is that Warren Buffett bought quality stocks at half price and is himself priced at a premium. Bunck, on the other hand, sits on premium stocks with a holding structure at half price. Fortunately, we have the board of directors. At the very least, they have proven that money can be distributed. In 2025, board fees rose by 26 % to 3.3 million Danish kroner. Granted, not many shareholders got to enjoy this payout. In fact, only three of the current five board members own shares themselves. It is comforting to know that someone has cracked the code for extracting value from North Media. You just have to sit on the board with no sense of capital allocation and without skin in the game, with your feet firmly planted on the table and your hands behind your head...
·6.11.The case remains intact - Attractive risk/reward scenario. We got a Q3 report and I have updated my calculations on the case The previous SOTP base value of 95.6 kr. per share is reduced to 91.2 kr. per share. The change is almost exclusively due to: 62.2 mio. kr. lower market value of the share portfolio 16.2 mio. kr. lower booked net property value The assessment of the operating businesses is unchanged. At a share price around 49 kr., the market value roughly corresponds to the updated share portfolio at 49.4 kr. per share, while cash, net properties, and operating businesses are still not reflected in the price. Own estimates on price development: Bear 60 kr., base 91 kr. and bull 128 kr.. Crucial for the realization is that the company initiates cancellation of own shares, divestment of the securities portfolio, and uses this proceeds for share buybacks with the purpose of canceling them.
I think the redemption is coming :) but I also don't understand your SOTP calculation. Total available liquidity (including the share portfolio) was reported at 1066 million DKK at the time of the report. That corresponds to an effective 60 kroner per share (adjusted for treasury shares). The property values, minus debt, I estimate at 14 kroner per share (approx. 7 kroner higher than the booked net asset value). Mao: liquid assets apart from operating businesses have a value of close to 75 kroner per now. These values, I think it is difficult to argue are wrong or overestimated. In your base case, you therefore only allocate 360 million DKK to the rest of the businesses. I think that is way, way too low. Presumably FK alone is worth double imo. What complicates the picture is SDR viewed with today's profitability (or rather lack of profitability), and the smaller digital wholly-owned loss-making businesses. I hope they are sold or show profitability very soon, and then boligportal must show profitable growth again to continue defending a high EBIT multiple in my SOTP.
·23.10.Lasse Brodt, who became chairman of North Media in April 2026, joined the board of directors of the main shareholder (Baunegård) as of June 30. Legally, there is nothing to prevent this, but it raises a relevant question about his independence from the main shareholder, given that as chairman of North Media he must protect the interests of all North Media shareholders. I hope he will.I think the game plan will be similar here, it would surprise me if bunck doesn't take the company private. The goal should therefore be to get paid as much as possible, but it's clear that when certain shareholders sell below the liquid assets (including the portfolio), the share price remains ridiculously low. I think they could take the company private for 80-90 kroner today, which is half price of the net asset value.
·21.10.Treasury Shares increased in Q2 to 2 031 000 from 2 030 000. Cannot find any stock exchange announcement for the purchase, possibly it is too small of an increase. Is there anyone else who has noticed it? It looks like an error in the report, because it is reported differently in the report
You are right. Might be a rounding error only, but you are right that there is a difference- ·4.10.Following the closing prices on Friday, October 2, 2026, I estimate North Media's securities portfolio at approx. 1,019.5 million DKK – i.e., for the first time in this tracking exceeding one billion. Value on Oct 2: 1,019.5 million DKK * Weekly change: +36.9 million DKK / +3.8 % * Change from official value on July 31: +92.3 million DKK / +10.0 % * Value per net outstanding North Media share: 56.56 DKK * North Media share price on Friday: 50.00 DKK * Net market capitalization: approx. 901.2 million DKK * The portfolio exceeds net market capitalization by 118.3 million DKK / 13.1 % * The North Media share is traded 11.6 % below the gross portfolio value per share
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Dataa ei löytynyt
2026 Q3 - tulosraportti
7 päivää sitten
1,25 DKK/osake
Viimeisin osinko
2,57%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·3 t sittenWelcome to North Media! Here, hundreds of people work on distributing advertising, developing BoligPortal, and digitalizing access systems. At the same time, Jensen Huang can trip over his dick in China and wipe out an entire year of value creation in Denmark. At the end of September, North Media owned Nvidia shares worth around 300 million Danish kroner. A price drop of 10 % thus corresponds to 30 million kroner – almost twice as much as NM's profit after tax, excluding security returns, for the first nine months of the year. And Nvidia is just the beginning. Let's look at some of the others in the portfolio: * Microsoft: A weak Copilot launch could easily have a greater significance than if BoligPortal doubles the number of paying customers. * Apple: Tim Cook has turned a lack of innovation into a cash machine with sky-high margins. Richard Bunck has copied the recipe, just dropped the margins and sensible capital allocation. * Teradyne: The Americans make billions testing whether advanced technology works. Perhaps they can develop a test to find out why North Media still doesn't buy back its own shares at half price. * Amazon: Bezos has spent billions perfecting "last mile delivery". North Media has already mastered the last kilometer from distributor to mailbox. The longest distance nevertheless turns out to be between the company's real value and the shareholders' wallet. * SpaceX: We have even gained exposure to satellites and rockets. Are North Media and FK Distribusjon going to handle last mile delivery on Mars? Richard Bunck controls over half of the shares and has turned North Media into his own little Berkshire Hathaway. The difference is that Warren Buffett bought quality stocks at half price and is himself priced at a premium. Bunck, on the other hand, sits on premium stocks with a holding structure at half price. Fortunately, we have the board of directors. At the very least, they have proven that money can be distributed. In 2025, board fees rose by 26 % to 3.3 million Danish kroner. Granted, not many shareholders got to enjoy this payout. In fact, only three of the current five board members own shares themselves. It is comforting to know that someone has cracked the code for extracting value from North Media. You just have to sit on the board with no sense of capital allocation and without skin in the game, with your feet firmly planted on the table and your hands behind your head...
- ·6.11.The case remains intact - Attractive risk/reward scenario. We got a Q3 report and I have updated my calculations on the case The previous SOTP base value of 95.6 kr. per share is reduced to 91.2 kr. per share. The change is almost exclusively due to: 62.2 mio. kr. lower market value of the share portfolio 16.2 mio. kr. lower booked net property value The assessment of the operating businesses is unchanged. At a share price around 49 kr., the market value roughly corresponds to the updated share portfolio at 49.4 kr. per share, while cash, net properties, and operating businesses are still not reflected in the price. Own estimates on price development: Bear 60 kr., base 91 kr. and bull 128 kr.. Crucial for the realization is that the company initiates cancellation of own shares, divestment of the securities portfolio, and uses this proceeds for share buybacks with the purpose of canceling them.I think the redemption is coming :) but I also don't understand your SOTP calculation. Total available liquidity (including the share portfolio) was reported at 1066 million DKK at the time of the report. That corresponds to an effective 60 kroner per share (adjusted for treasury shares). The property values, minus debt, I estimate at 14 kroner per share (approx. 7 kroner higher than the booked net asset value). Mao: liquid assets apart from operating businesses have a value of close to 75 kroner per now. These values, I think it is difficult to argue are wrong or overestimated. In your base case, you therefore only allocate 360 million DKK to the rest of the businesses. I think that is way, way too low. Presumably FK alone is worth double imo. What complicates the picture is SDR viewed with today's profitability (or rather lack of profitability), and the smaller digital wholly-owned loss-making businesses. I hope they are sold or show profitability very soon, and then boligportal must show profitable growth again to continue defending a high EBIT multiple in my SOTP.
- ·23.10.Lasse Brodt, who became chairman of North Media in April 2026, joined the board of directors of the main shareholder (Baunegård) as of June 30. Legally, there is nothing to prevent this, but it raises a relevant question about his independence from the main shareholder, given that as chairman of North Media he must protect the interests of all North Media shareholders. I hope he will.I think the game plan will be similar here, it would surprise me if bunck doesn't take the company private. The goal should therefore be to get paid as much as possible, but it's clear that when certain shareholders sell below the liquid assets (including the portfolio), the share price remains ridiculously low. I think they could take the company private for 80-90 kroner today, which is half price of the net asset value.
- ·21.10.Treasury Shares increased in Q2 to 2 031 000 from 2 030 000. Cannot find any stock exchange announcement for the purchase, possibly it is too small of an increase. Is there anyone else who has noticed it? It looks like an error in the report, because it is reported differently in the reportYou are right. Might be a rounding error only, but you are right that there is a difference
- ·4.10.Following the closing prices on Friday, October 2, 2026, I estimate North Media's securities portfolio at approx. 1,019.5 million DKK – i.e., for the first time in this tracking exceeding one billion. Value on Oct 2: 1,019.5 million DKK * Weekly change: +36.9 million DKK / +3.8 % * Change from official value on July 31: +92.3 million DKK / +10.0 % * Value per net outstanding North Media share: 56.56 DKK * North Media share price on Friday: 50.00 DKK * Net market capitalization: approx. 901.2 million DKK * The portfolio exceeds net market capitalization by 118.3 million DKK / 13.1 % * The North Media share is traded 11.6 % below the gross portfolio value per share
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 4 | ||
| 7 | ||
| 134 | ||
| 3 | ||
| 6 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 26.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 4.11. | ||
2026 Q2 - tulosraportti 21.8. | ||
2026 Q1 - tulosraportti 12.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 4.11.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Dataa ei löytynyt
2026 Q3 - tulosraportti
7 päivää sitten
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 26.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 4.11. | ||
2026 Q2 - tulosraportti 21.8. | ||
2026 Q1 - tulosraportti 12.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 4.11.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
1,25 DKK/osake
Viimeisin osinko
2,57%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·3 t sittenWelcome to North Media! Here, hundreds of people work on distributing advertising, developing BoligPortal, and digitalizing access systems. At the same time, Jensen Huang can trip over his dick in China and wipe out an entire year of value creation in Denmark. At the end of September, North Media owned Nvidia shares worth around 300 million Danish kroner. A price drop of 10 % thus corresponds to 30 million kroner – almost twice as much as NM's profit after tax, excluding security returns, for the first nine months of the year. And Nvidia is just the beginning. Let's look at some of the others in the portfolio: * Microsoft: A weak Copilot launch could easily have a greater significance than if BoligPortal doubles the number of paying customers. * Apple: Tim Cook has turned a lack of innovation into a cash machine with sky-high margins. Richard Bunck has copied the recipe, just dropped the margins and sensible capital allocation. * Teradyne: The Americans make billions testing whether advanced technology works. Perhaps they can develop a test to find out why North Media still doesn't buy back its own shares at half price. * Amazon: Bezos has spent billions perfecting "last mile delivery". North Media has already mastered the last kilometer from distributor to mailbox. The longest distance nevertheless turns out to be between the company's real value and the shareholders' wallet. * SpaceX: We have even gained exposure to satellites and rockets. Are North Media and FK Distribusjon going to handle last mile delivery on Mars? Richard Bunck controls over half of the shares and has turned North Media into his own little Berkshire Hathaway. The difference is that Warren Buffett bought quality stocks at half price and is himself priced at a premium. Bunck, on the other hand, sits on premium stocks with a holding structure at half price. Fortunately, we have the board of directors. At the very least, they have proven that money can be distributed. In 2025, board fees rose by 26 % to 3.3 million Danish kroner. Granted, not many shareholders got to enjoy this payout. In fact, only three of the current five board members own shares themselves. It is comforting to know that someone has cracked the code for extracting value from North Media. You just have to sit on the board with no sense of capital allocation and without skin in the game, with your feet firmly planted on the table and your hands behind your head...
- ·6.11.The case remains intact - Attractive risk/reward scenario. We got a Q3 report and I have updated my calculations on the case The previous SOTP base value of 95.6 kr. per share is reduced to 91.2 kr. per share. The change is almost exclusively due to: 62.2 mio. kr. lower market value of the share portfolio 16.2 mio. kr. lower booked net property value The assessment of the operating businesses is unchanged. At a share price around 49 kr., the market value roughly corresponds to the updated share portfolio at 49.4 kr. per share, while cash, net properties, and operating businesses are still not reflected in the price. Own estimates on price development: Bear 60 kr., base 91 kr. and bull 128 kr.. Crucial for the realization is that the company initiates cancellation of own shares, divestment of the securities portfolio, and uses this proceeds for share buybacks with the purpose of canceling them.I think the redemption is coming :) but I also don't understand your SOTP calculation. Total available liquidity (including the share portfolio) was reported at 1066 million DKK at the time of the report. That corresponds to an effective 60 kroner per share (adjusted for treasury shares). The property values, minus debt, I estimate at 14 kroner per share (approx. 7 kroner higher than the booked net asset value). Mao: liquid assets apart from operating businesses have a value of close to 75 kroner per now. These values, I think it is difficult to argue are wrong or overestimated. In your base case, you therefore only allocate 360 million DKK to the rest of the businesses. I think that is way, way too low. Presumably FK alone is worth double imo. What complicates the picture is SDR viewed with today's profitability (or rather lack of profitability), and the smaller digital wholly-owned loss-making businesses. I hope they are sold or show profitability very soon, and then boligportal must show profitable growth again to continue defending a high EBIT multiple in my SOTP.
- ·23.10.Lasse Brodt, who became chairman of North Media in April 2026, joined the board of directors of the main shareholder (Baunegård) as of June 30. Legally, there is nothing to prevent this, but it raises a relevant question about his independence from the main shareholder, given that as chairman of North Media he must protect the interests of all North Media shareholders. I hope he will.I think the game plan will be similar here, it would surprise me if bunck doesn't take the company private. The goal should therefore be to get paid as much as possible, but it's clear that when certain shareholders sell below the liquid assets (including the portfolio), the share price remains ridiculously low. I think they could take the company private for 80-90 kroner today, which is half price of the net asset value.
- ·21.10.Treasury Shares increased in Q2 to 2 031 000 from 2 030 000. Cannot find any stock exchange announcement for the purchase, possibly it is too small of an increase. Is there anyone else who has noticed it? It looks like an error in the report, because it is reported differently in the reportYou are right. Might be a rounding error only, but you are right that there is a difference
- ·4.10.Following the closing prices on Friday, October 2, 2026, I estimate North Media's securities portfolio at approx. 1,019.5 million DKK – i.e., for the first time in this tracking exceeding one billion. Value on Oct 2: 1,019.5 million DKK * Weekly change: +36.9 million DKK / +3.8 % * Change from official value on July 31: +92.3 million DKK / +10.0 % * Value per net outstanding North Media share: 56.56 DKK * North Media share price on Friday: 50.00 DKK * Net market capitalization: approx. 901.2 million DKK * The portfolio exceeds net market capitalization by 118.3 million DKK / 13.1 % * The North Media share is traded 11.6 % below the gross portfolio value per share
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 4 | ||
| 7 | ||
| 134 | ||
| 3 | ||
| 6 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Välittäjätilasto
Dataa ei löytynyt