Polaris Media
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Polaris Media (POL) investor relations material

Polaris Media Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Adjusted EBITDA rose 54% year-over-year to MNOK 101 in Q4 2025, driven by strong digital growth and cost reductions, especially in Sweden.

  • EBIT improved to MNOK 20 from -3 in Q4 2024, reflecting profit growth in both Norwegian and Swedish media houses.

  • Digital user revenues grew 24% year-over-year in Q4, with digital subscriptions up 12% to 494,600, now 75% of total subscriptions.

  • Board proposes a dividend of NOK 3.30 per share for 2025, reflecting a solid financial position.

  • New data platform launched to support investigative journalism and AI-based product development.

Financial highlights

  • Q4 2025 adjusted EBITDA: MNOK 101 (up 54% from Q4 2024); full-year adjusted EBITDA: MNOK 310, up 6%.

  • Q4 EBIT: MNOK 20 (-3), driven by profit growth in both Norwegian and Swedish media houses and Swedish distribution.

  • Q4 digital user revenues up 24%; total user revenues up 7%; ad revenues down 8%, but digital ad revenues up 2%.

  • Underlying operating costs reduced by 4% year-over-year in Q4.

  • Q4 revenues: MNOK 961 (963), flat year-over-year; full-year revenues: MNOK 3,651 (3,650).

Outlook and guidance

  • Positioned for further growth in 2026, with a significantly lower cost base after 2025 restructuring.

  • 2026 outlook marked by geopolitical uncertainty, but expected interest rate cuts in Norway and stable rates in Sweden may support real wage growth.

  • Continued strong user revenue growth expected in Norway; targeted initiatives in Sweden.

  • Ongoing investments in product development, technology, and AI to drive digital growth.

  • Paper-based ad and user revenues expected to continue structural decline; digital share of revenues rising.

How to boost Stampen Media digital user revenue
What is the plan for Swedish distribution exit?
Why did financial costs increase in Q4?
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Frequently asked questions

Polaris Media ASA operates as a media and printing company across Norway and Sweden. It manages several media houses and provides services including digital advertising, printing, and newspaper distribution. Polaris Media produces local newspapers, magazines, and editorial supplements while also distributing parcels and mail. The company's operations span both Norway and Sweden, with business segments like Polaris Media Midt-Norge, Polaris Media Nord-Norge, and Stampen Media in Sweden. In addition to publishing, it offers multimedia and telemarketing services. The company is headquartered in Trondheim, Norway, and its shares are listed on the Oslo Stock Exchange.

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