Alma Media sells properties in Tampere and Kemi

ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 24.10.2006, 17.00         1 (1)

 

ALMA MEDIA SELLS PROPERTIES IN TAMPERE AND KEMI

 

Alma Media has sold properties in Tampere and Kemi to Varma Mutual Pension Insurance Company for a total of EUR 9.6 million and a capital gain of EUR 4.2 million. The annualized impact of the disposal on the Group’s annual operating profit is EUR -0.1 million and on cash flow EUR -0.5 million.

 

The real estate sold in Tampere is a property in the suburb of Sarankulma that is currently wholly leased to outside parties.

 

The real estate sold in Kemi is a property mainly occupied by Pohjolan Sanomat but also with external tenants. Pohjolan Sanomat will lease its current premises from the purchaser for ten years.

 

The capital gain on these property sales, EUR 4.2 million, will be entered as a one-off item under operating profit in the fourth quarter.

 

ALMA MEDIA CORPORATION

 

Terhi Lambert-Karjalainen

Communications Manager

 

Further information:

Teemu Kangas-Kärki, CFO, tel. +358-10 665 2244

 

DISTRIBUTION: Helsinki Exchanges, principal media

 

Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and the online media. Its best known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.

 

Net sales in 2005 totalled EUR 286 million and the operating margin was almost 15 %. The company’s share is listed in the Mid Cap segment of the OMX Nordic Exchange’s Nordic List. The trading code is ALN1V.

More information at http://www.almamedia.fi/home