Alma Media to change its terminology for Alternative Performance Measures in financial reporting in response to ESMA guidance
Alma Media Corporation Stock Exchange Release 20 June 2016 at 12.30 EEST
ALMA MEDIA TO CHANGE ITS TERMINOLOGY FOR ALTERNATIVE PERFORMANCE MEASURES IN FINANCIAL REPORTING IN RESPONSE TO ESMA GUIDANCE
Alma Media will change its reporting terminology in accordance with the guidelines issued by the European Securities and Markets Authority (ESMA) concerning Alternative Performance Measures. The change will take effect starting from the interim report for the second quarter, to be published on 22 July 2016.
Alma Media will replace the previously used term “operating profit excluding non-recurring items” with the term “adjusted operating profit”. The previously used term “EBITDA excluding non-recurring items” will be replaced by the term “adjusted EBITDA”.
The definitions will remain unchanged. Adjusted items are income or expense arising from non-recurring or rare events. Gains or losses from the sale or discontinuation of business operations or assets, gains or losses from restructuring business operations as well as impairment losses of goodwill and other assets are recognised by the Group as adjusted items. Adjusted items are recognised in the profit and loss statement within the corresponding income or expense group.
Alma Media presents Alternative Performance Measures to illustrate the financial development of its business operations and to improve comparability between reporting periods. Alternative Performance Measures should not be considered to be replacements for the performance measures defined in the IFRS standards governing financial reporting
The other Alternative Performance Measures used by Alma Media will not be changed. They include return on equity (ROE), return on investment (ROI), equity ratio, operating profit, gearing, net financial expenses, dividend per share, dividend payout ratio, effective dividend yield, price/earnings ratio (P/E ratio) and equity per share.
The calculation of key figures is presented in the financial statements for the year 2015. The calculation principles will not be changed.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and Investor Relations
For more information, please contact:
Juha Nuutinen, CFO, tel. +358 10 665 3873
Distribution: NASDAQ Helsinki, main media, www.almamedia.fi
Alma Media in brief
Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,500 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2015 was EUR 291.5 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.