Polaris Media's Q3 2025 EBITDA stable on Norwegian growth, Swedish restructuring

Polaris Media ASA achieved an adjusted EBITDA of NOK 103 million in Q3 2025, a slight increase from NOK 102 million in the previous year. The reported EBITDA was NOK 76 million, impacted by NOK 27 million in restructuring costs in Sweden. Digital revenues across the group surged by 18% to NOK 376 million. Norwegian media houses were a key growth driver, with their EBITDA jumping 46% to NOK 82 million, supported by a 5% rise in operating revenues and 19% growth in digital user revenues.

In Sweden, the company implemented significant efficiency measures. These actions included a reduction of 68 full-time equivalents in Stampen Media, expected to yield annual cost savings of approximately SEK 88 million, with an anticipated impact of SEK 23 million in Q4 2025. Despite these efforts, Stampen Media's adjusted EBITDA more than halved to NOK 18 million.

The company is establishing "PM Produkt," a new centralized product organization, to enhance digital product development and scale AI solutions across Norway and Sweden. Polaris Media maintains a solid financial position, with its stake in Vend Marketplaces ASA valued at approximately NOK 1.1 billion and a nearly debt-free status. The sale process for Vend's Delivery business is expected to conclude in H1 2026.