The outcome of Alma Media Corporation’s impairment tests for 2016

Alma Media Corporation           Stock Exchange Release          19 December 2016, at 4:10 p.m. (EET)
 

THE OUTCOME OF ALMA MEDIA CORPORATION’S IMPAIRMENT TESTS FOR 2016

Alma Media has completed its regular annual goodwill impairment tests for the Group. As a result, in its consolidated financial statements, the company will recognise EUR 3.0 million in impairment in the fourth quarter of 2016, as well as a provision for expenses of EUR 2.3 million relating to vacant business premises. The write-down made to goodwill and intangible assets is related to Alma Regions’ business in Lapland and Alma Talent’s business in Sweden.  

The write-down and the provision for expenses relating to vacant business premises will be reported in Alma Media’s fourth quarter financial result as an adjusted item. Alma Media will publish its interim report for the fourth quarter and its Financial Statement Bulletin for 2016 on 10 February 2017. The company maintains the outlook issued in the interim report dated 28 October 2016, according to which its full-year revenue and adjusted operating profit are expected to increase clearly from the 2015 level. 

ALMA MEDIA CORPORATION 

Rauno Heinonen 

Vice President, Corporate Communications and IR 

For more information, please contact: 

Juha Nuutinen, CFO, Alma Media Corporation, tel. +358 50 438 0984 

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 2,400 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.

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