The NHST Group delivered significant progress in 2025 in terms of editorial and commercial performance and financial results. The volatile geopolitical situation and a series of major news events in Norway and internationally highlights the need for independent, investigative and critical journalism. The publications of the Group help readers understand and navigate through the complex political and economic environment. The publications in the Group consistently delivered high-quality content that met this increasing demand throughout 2025.
Financially, 2025 represented a significant improvement for the NHST Group:
Group revenues increased by 1.7 per cent compared to the year before, to NOK 1 201.7 million. Excluding discontinued activities from the 2024 numbers, the revenue growth was 4.7 per cent.
Group EBITDA increased by 66.9 per cent compared to the year before and reached NOK 148.0 million.
Group EBIT increased to NOK 122.9 million (2024 minus NOK 43.9 million), an increase of NOK 166.8 million. The EBIT result was significantly affected by impairments in 2024 and part-reversal of impairments in 2025.
The balance sheet of the Group improved considerably, as net interest-bearing debt was reduced by NOK 59.3 million. At year end, the Group was cash positive (cash holding exceeded interestbearing debt).
During the year, DN Media Group AS increased its ownership in Europower AS to 100 per cent. The Group has also increased its shareholding in Norkon AS to 35.3 per cent, thereby strengthening its positions in promising growth areas.
In the first quarter, operations in the subsidiary Mention Solutions, based in Paris, were terminated. Customer contracts, technology and a share of the employees were transferred to a local buyer.
Mynewsdesk delivered revenues below last year but improved its EBITDA to SEK 26.4 million (2024 SEK 23.0 million) as a result of tight cost control. Towards the end of the year, new subscription sales showed improvements which are expected to materialize in growth in revenues in 2026.