ALMA MEDIA GROUP RECORDS ONE-TIME COSTS OF FIM 50 MILLION

ALMA MEDIA CORP. STOCK EXCH. RELEASE 09.01.2002 AT 5.00 PM ALMA MEDIA GROUP RECORDS ONE-TIME COSTS OF FIM 50 MILLION The volume of media advertising in Finland in the period October-December declined significantly from the previous year. Alma Media's result for the fourth quarter of 2001 is significantly smaller than in the corresponding period of the previous year, due to reduced advertising revenue and one-time costs. One-time costs of about FIM 50 million have been recorded in the final quarter of the year. The Group's loss before taxes and minority interests in the final quarter is about FIM 100 million. In its interim report for the first nine months, Alma Media Group forecast that it would record an operating loss for 2001, mainly because of a decline in advertising revenue and because of the costs involved in improving the Group's cost structure and the expenditure required for digital television. In accordance with this forecast, media advertising in Finland in the final quarter of the year was at a significantly lower level than in the corresponding period of the previous year. In addition, Alma Media is recording in the final quarter one-time costs of about FIM 50 million connected with the company reorganisation and the termination of certain operations. Because of the decline in advertising revenue and the one-time costs, the result before taxes and minority interests in the final quarter of 2001 is about FIM 100 million (about EUR 16 million) lower than in the corresponding period of the previous year. The profit before taxes and minority interests in the fourth quarter of 2000 was FIM 5 million, or just under EUR 1 million. ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Corporate Communications and Investor Relations Distribution: HEX Helsinki Exchanges, Main media
  • Date: 9.1.2002, 08:00
  • News type: Stock exchange release

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