Change in the structure and composition of Alma Media's reportable segments

Alma Media Corporation     Stock Exchange Release   10 April 2014, 14:00 EEST

CHANGE IN THE STRUCTURE AND COMPOSITION OF ALMA MEDIA'S REPORTABLE SEGMENTS

Alma Media Group's reporting structure was changed at the beginning of 2014. From the beginning of 2014, Alma Media's reportable segments are Digital Consumer Services, Financial Media and Business Services, National Consumer Media, and Regional Media. Centralised services produced by the Group's parent company and centralised digital support services for the entire Group will be reported outside segment reporting.

The Group has five operating segments as shown in the table below. The operating segments that produce similar products and services are combined into reportable segments due to their uniform profitability and other characteristics. The change in the segment structure is due to the transformation of the business environment in the media industry, with media consumption increasingly shifting to digital channels.

REPORTABLE SEGMENT: OPERATING SEGMENT:
Digital Consumer Services Alma Diverso
Marketplaces
Financial Media and Business Services Financial Media and Business Services
National Consumer Media National Consumer Media
Regional Media Regional Media

From the beginning of 2014, the Digital Consumer Services segment still includes Alma Diverso and Marketplaces, but the centralised digital support services for the entire Group have been moved to non-allocated items outside segment reporting. The name of Kauppalehti Group has been changed to Financial Media and Business Services. The new National Consumer Media segment consists of the IL Media operating segment, which was previously reported under the Newspapers segment. The new Regional Media segment includes the Alma Regional Media operating segment, which was previously reported under the Newspapers segment, as well as the Group's printing and distribution company Alma Manu, which was previously reported under the Other Operations segment. Other Operations no longer constitutes a separate segment. Instead, the operations of the Group's parent company are reported as non-allocated items.

As the structure and composition of the reportable segments have changed, Alma Media has, in accordance with the IFRS 8 Operating Segments standard, adjusted the corresponding items in segment information for the 2013 comparison period. Segment revenue and operating profit under the previous and newly adopted segment structures is presented in the tables below.

ALMA MEDIA CORPORATION

Rauno Heinonen
Vice President, Corporate Communications and IR

For more information, please contact:
Juha Nuutinen, CFO, Alma Media Corporation, tel. +358 10 665 3873

Distribution: NASDAQ OMX Helsinki
main media


Alma Media in brief

Alma Media is a media company focusing on digital services and publishing. In addition to news services, the company's products provide useful information related to lifestyle, career and business development. The services of Alma Media have expanded from Finland to the Nordic countries, the Baltic States and Central Europe. The company employs 1,965 professionals (excluding distributors), of whom approximately one third are based outside Finland. Alma Media's revenue in 2013 totalled approximately MEUR 300. Alma Media's share is listed on NASDAQ OMX Helsinki. Read more at www.almamedia.com.

REVENUE AND OPERATING PROFIT BY SEGMENT UNDER THE NEW SEGMENT STRUCTURE
           
REVENUE BY SEGMENT 2013 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Digital Consumer Services          
External revenue 14.0 13.3 12.2 12.5 52.0
Inter-segment revenue 0.1 0.1 0.1 0.3 0.6
Digital Consumer Services total 14.1 13.4 12.3 12.9 52.6
           
Financial Media and Business Services          
External revenue 13.8 14.2 13.0 15.2 56.3
Inter-segment revenue 0.2 0.1 0.1 0.2 0.6
Financial Media and Business Services total 14.0 14.4 13.1 15.4 56.8
           
National Consumer Media          
External revenue 11.9 12.2 12.0 12.0 48.0
Inter-segment revenue 0.1 0.2 0.2 0.4 0.9
National Consumer Media total 12.0 12.4 12.2 12.4 49.0
           
Regional Media          
External revenue 34.4 35.7 33.7 36.1 139.9
Inter-segment revenue 2.1 1.5 1.5 2.1 7.2
Regional Media total 36.6 37.2 35.1 38.2 147.1
           
Non-allocated items and eliminations -1.8 -1.0 -1.0 -1.6 -5.3
Total 74.9 76.3 71.7 77.3 300.2
           
           
OPERATING PROFIT BY SEGMENT 2013* 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Digital Consumer Services 2.8 11.3 2.2 1.4 17.7
Financial Media and Business Services 1.3 1.7 2.2 2.6 7.8
National Consumer Media 0.9 0.9 1.8 1.1 4.7
Regional Media 2.0 -2.2 2.7 1.7 4.3
Segments, total 7.1 11.7 9.0 6.7 34.5
Non-allocated items -1.6 -2.2 -1.3 -2.4 -7.5
Total 5.4 9.5 7.8 4.3 27.0
           
* Including non-recurring items.          
           
REVENUE AND OPERATING PROFIT BY SEGMENT UNDER THE PREVIOUS SEGMENT STRUCTURE
           
REVENUE BY SEGMENT 2013 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers          
External revenue 45.1 46.7 44.5 46.9 183.1
Inter-segment revenue 0.5 0.6 0.6 0.8 2.5
Newspapers total 45.6 47.3 45.1 47.7 185.6
           
Kauppalehti Group          
External revenue 13.8 14.2 13.0 15.2 56.3
Inter-segment revenue 0.2 0.1 0.1 0.2 0.6
Kauppalehti Group total 14.0 14.4 13.1 15.4 56.8
           
Digital Consumer Services          
External revenue 14.3 13.6 12.6 13.3 53.8
Inter-segment revenue 0.6 0.6 0.3 0.5 2.1
Digital Consumer Services total 14.9 14.2 13.0 13.8 55.9
           
Other Operations          
External revenue 1.7 1.8 1.7 1.9 7.1
Inter-segment revenue 20.0 19.4 19.2 19.7 78.4
Other Operations total 21.7 21.2 20.9 21.6 85.4
           
Eliminations -21.3 -20.7 -20.3 -21.2 -83.5
Total 74.9 76.3 71.7 77.3 300.2
           
           
OPERATING PROFIT BY SEGMENT 2013* 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers 2.0 3.1 4.3 2.1 11.5
Kauppalehti Group 1.3 1.7 2.2 2.6 7.8
Digital Consumer Services 2.7 10.9 1.9 0.7 16.2
Other Operations -0.5 -6.2 -0.6 -1.2 -8.5
Total 5.4 9.5 7.8 4.3 27.0
           
* Including non-recurring items.          
           
         
KEY FIGURES BY SEGMENT UNDER THE NEW SEGMENT STRUCTURE 2013
           
           
Digital Consumer Services 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 14.1 13.4 12.3 12.9 52.6
Operations in Finland 5.9 5.8 5.2 5.6 22.5
Operations outside Finland 8.2 7.5 7.1 7.2 30.0
Operating profit excluding non-recurring items 2.8 2.9 2.2 1.5 9.4
% of revenue 19.9 21.6 18.2 11.3 17.8
Operating profit 2.8 11.3 2.2 1.4 17.7
% of revenue 19.9 84.2 18.2 10.9 33.6
Average no. of employees, calculated as full-time employees 482 472 467 492 492
           
Financial Media and Business Services 2014 2013 2014 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 14.0 14.4 13.1 15.4 56.8
Content revenue 4.2 4.1 4.2 4.4 16.8
Advertising revenue 3.9 4.1 3.6 4.7 16.2
Other revenue 6.0 6.2 5.3 6.3 23.8
Operating profit excluding non-recurring items 1.3 1.7 2.2 2.6 7.8
% of revenue 9.6 12.0 16.9 16.7 13.8
Operating profit 1.3 1.7 2.2 2.6 7.8
% of revenue 9.6 12.0 16.9 16.7 13.8
Average no. of employees, calculated as full-time employees 403 406 400 398 402
           
National Consumer Media 2014 2013 2014 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 12.0 12.4 12.2 12.4 49.0
Operating profit excluding non-recurring items 0.9 0.9 1.8 1.1 4.7
% of revenue 7.2 7.4 15.1 8.8 9.6
Operating profit 0.9 0.9 1.8 1.1 4.7
% of revenue 7.2 7.4 15.1 8.8 9.6
Average no. of employees, calculated as full-time employees 153 160 163 160 160
           
Regional Media 2014 2013 2014 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 36.6 37.2 35.1 38.2 147.1
Content revenue 17.0 16.6 17.1 16.9 67.6
Advertising revenue 16.0 17.7 15.1 17.7 66.5
Other revenue 3.6 2.9 2.9 3.6 13.0
Operating profit excluding non-recurring items 2.1 1.3 2.7 3.6 9.8
% of revenue 5.7 3.5 7.8 9.5 6.6
Operating profit 2.0 -2.2 2.7 1.7 4.3
% of revenue 5.6 -5.9 7.8 4.4 2.9
Average no. of employees, calculated as full-time employees, excl. delivery staff 814 804 803 786 786
Average no. of delivery staff* 985 974 1,011 998 998
           
         
KEY FIGURES BY SEGMENT UNDER THE PREVIOUS SEGMENT STRUCTURE 2013
           
           
Newspapers 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 45.6 47.3 45.1 47.7 185.6
Content revenue 25.0 24.2 25.0 24.3 98.5
Advertising revenue 19.9 22.3 19.4 22.2 83.9
Other revenue 0.6 0.8 0.7 1.1 3.2
Operating profit excluding non-recurring items 2.0 3.1 4.3 4.0 13.5
% of revenue 4.4 6.5 9.6 8.5 7.2
Operating profit 2.0 3.1 4.3 2.1 11.5
% of revenue 4.4 6.5 9.6 4.4 6.2
Average no. of employees, calculated as full-time employees, excl. delivery staff 758 819 839 752 792
Average no. of delivery staff* 99 96 92 80 84
           
Kauppalehti Group 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 14.0 14.4 13.1 15.4 56.8
Content revenue 4.2 4.1 4.2 4.4 16.8
Advertising revenue 3.9 4.1 3.6 4.7 16.2
Other revenue 6.0 6.2 5.3 6.3 23.8
Operating profit excluding non-recurring items 1.3 1.7 2.2 2.6 7.8
% of revenue 9.6 12.0 16.9 16.7 13.8
Operating profit 1.3 1.7 2.2 2.6 7.8
% of revenue 9.6 12.0 16.9 16.7 13.8
Average no. of employees, calculated as full-time employees 403 406 400 398 402
           
Digital Consumer Services 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 14.9 14.2 13.0 13.8 55.9
Operations in Finland 6.8 6.7 5.9 6.5 25.9
Operations outside Finland 8.2 7.5 7.1 7.2 30.0
Operating profit excluding non-recurring items 2.7 2.6 1.9 0.8 7.9
% of revenue 18.1 18.0 14.5 5.4 14.1
Operating profit 2.7 10.9 1.9 0.7 16.2
% of revenue 18.1 76.8 14.5 5.0 29.0
Average no. of employees, calculated as full-time employees 511 490 491 495 497
           
Other Operations 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Revenue 21.7 21.2 20.9 21.6 85.4
Operating profit excluding non-recurring items -0.5 -2.7 -0.6 -1.2 -5.0
% of revenue -2.4 -12.7 -3.0 -5.5 -5.9
Operating profit -0.5 -6.2 -0.6 -1.2 -8.5
% of revenue -2.4 -29.0 -3.0 -5.7 -10.0
Average no. of employees, calculated as full-time employees 331 264 255 249 275
           
         
ASSETS, LIABILITIES AND CAPITAL EXPENDITURE BY SEGMENT UNDER THE NEW SEGMENT STRUCTURE 2013
           
           
ASSETS BY SEGMENT 2013 2013 2013 2013  
MEUR 31 March 30 June 30 September 31 December  
Digital Consumer Services 83.1 80.0 78.7 90.6  
Financial Media and Business Services 37.8 37.0 37.1 36.7  
National Consumer Media 5.7 5.1 4.4 5.1  
Regional Media 110.0 110.9 110.1 102.4  
Segments, total 236.7 232.9 230.3 234.8  
Non-allocated items 52.4 53.3 51.4 38.0  
Total 289.0 286.2 281.8 272.8  
           
LIABILITIES BY SEGMENT 2013 2013 2013 2013  
MEUR 31 March 30 June 30 September 31 December  
Digital Consumer Services 13.6 13.2 13.0 12.9  
Financial Media and Business Services 12.8 12.1 11.1 9.7  
National Consumer Media 5.8 4.9 4.1 5.0  
Regional Media 42.7 39.4 33.8 30.8  
Segments, total 75.0 69.6 62.0 58.4  
Non-allocated items 134.3 129.8 126.8 123.9  
Total 209.3 199.4 188.8 182.3  
           
CAPITAL EXPENDITURE BY SEGMENT 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Digital Consumer Services 0.0 0.3 0.3 1.3 2.0
Financial Media and Business Services 0.1 0.2 0.2 0.3 0.8
National Consumer Media 0.1 0.1 0.0 0.0 0.2
Regional Media 45.5 5.6 0.6 0.3 52.0
Segments, total 45.6 6.2 1.2 2.0 55.0
Non-allocated items 1.3 4.2 1.5 0.8 7.9
Total 46.9 10.4 2.6 2.8 62.8
           
         
ASSETS, LIABILITIES AND CAPITAL EXPENDITURE BY SEGMENT UNDER THE PREVIOUS SEGMENT STRUCTURE 2013
         
           
ASSETS BY SEGMENT 2013 2013 2013 2013  
MEUR 31 March 30 June 30 September 31 December  
Newspapers 39.1 39.0 38.6 32.4  
Kauppalehti Group 37.8 37.0 37.1 36.7  
Digital Consumer Services 83.3 80.4 79.1 91.2  
Other Operations 96.1 100.6 100.7 98.8  
Non-allocated assets 32.7 29.2 26.2 13.7  
Total 289.0 286.2 281.8 272.8  
           
LIABILITIES BY SEGMENT 2013 2013 2013 2013  
MEUR 31 March 30 June 30 September 31 December  
Newspapers 39.6 32.7 26.9 24.8  
Kauppalehti Group 12.8 12.1 11.1 9.7  
Digital Consumer Services 15.6 15.3 15.0 14.9  
Other Operations 85.7 86.3 84.9 84.5  
Non-allocated liabilities 55.5 53.0 50.9 48.4  
Total 209.3 199.4 188.8 182.3  
           
CAPITAL EXPENDITURE BY SEGMENT 2013 2013 2013 2013 2013
MEUR Q1 Q2 Q3 Q4 Q1-Q4
Newspapers 0.2 1.8 0.2 0.3 2.6
Kauppalehti Group 0.1 0.2 0.2 0.3 0.8
Digital Consumer Services 0.0 0.3 0.3 1.3 2.0
Other Operations 46.6 8.1 1.9 0.8 57.4
Total 46.9 10.4 2.6 2.8 62.8
  • Date: 10.4.2014, 16:00
  • News type: Stock exchange release

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