Alma Media > Releases > Stock exchange release > Alma Media to sell regional news media business and printing operations to Sanoma Media Finland for 115 million euros

Alma Media to sell regional news media business and printing operations to Sanoma Media Finland for 115 million euros

Alma Media Corporation Insider information       11 February 2020 at 8.00 a.m 


Alma Media and Sanoma have on 11 February 2020 signed an agreement concerning the sale of all shares in Alma Media Kustannus Oy, operating in regional news media business, and in Alma Manu Oy, the printing operations to Sanoma Media Finland. The enterprise value of the businesses to be divested is EUR 115 million. Alma Media will book a capital gain of approximately EUR 58 million from the sale upon closing of the transaction that is estimated to take place during the year 2020.

The businesses to be divested include regional newspapers Aamulehti and Satakunnan Kansa, local newspapers Janakkalan Sanomat, Jämsän Seutu, Kankaanpään Seutu, KMV-Lehti, Nokian Uutiset, Rannikkoseutu, Suur-Keuruu, Merikarvia-Lehti, Sydän-Satakunta, Tyrvään Sanomat, Valkeakosken Sanomat, Jokilaakso and Vekkari as well as Alma Manu printing operations, which are reported under the Alma Consumer segment. 

The combined 2019 preliminary, unaudited revenue of the businesses to be divested was EUR 99 million, pro forma adjusted EBITDA EUR 15 million and pro forma adjusted operating profit EUR 10 million. Including the impact of the delivery outsourcing agreement that came into effect on 1 January 2020, pro forma adjusted EBITDA would have been EUR 20 million. 

Altogether 365 (FTE) employees in the businesses to be divested will transfer to Sanoma Media Finland upon closing of the transaction.

The transaction is subject to customary closing conditions, including approval by the Finnish Competition and Consumer Authority. 

Alma Media sharpens its strategic focus on the development of digital and international businesses  

The transaction increases the share of digital business to approximately 67 per cent of Alma Media’s total revenue (LTM Q3/2019). The company’s dependence on declining print media decreases significantly and invested capital related to it declines. The transaction supports Alma Media’s strategic ambitions to build sustainable competitive positions and in achieving its long-term growth targets. 

After closing of the transaction, Alma Media’s key growth areas will be digital marketplaces in Finland and internationally, the national multi-channel consumer media and service business in Finland, as well as financial and professional media and services targeted at businesses.

– We sharpen our strategy and focus especially on the development, growth and internationalisation of our digital businesses. The divestment of the regional media and print business is a logical step and continuation of our previous divestments and part of disciplined portfolio development towards profitable and growing digital services. In Finland, we will focus on national media brands and digital services, digital advertising and marketing solutions as well as on paid digital content,” says Kai Telanne, President and CEO of Alma Media.

– The transaction strengthens our balance sheet and provides us with increased resources for pursuing new business opportunities and M&A. We have found a well reputed buyer that has a long history in the media industry and has the required resources for ensuring the long-term development of the regional media business,” Telanne adds.

The effect of the divestment on Alma Media’s financial reporting 

The transaction does not include Iltalehti’s business and the digital consumer services, such as,, and, which continue to be reported under the Alma Consumer segment. 

The businesses to be divested will continue to operate normally as part of Alma Media until the transaction is concluded. The final purchase price for the shares will be determined at closing of the transaction on customary terms agreed in the sale and purchase agreement and will be paid in cash. The parties have also agreed on a potential earn-out linked to the future performance of the print operations and advertising sales of the divested business which is expected not to have material impact on final purchase price.  

Alma Media has classified the businesses to be divested as discontinued operations in the Group’s financial statements for 2019. Alma Media will publish on 14 February 2020 consolidated financial reports on continued and discontinued operations, retrospectively for FY 2019. Quarterly information from 2019 will be published in March 2020.

Illustrative key figures for business to be divested:

EUR million,  
All figures have been rounded 
Preliminary, unaudited FY-2019 Reported 2018* 
Revenue  99 103 
Pro forma adjusted EBITDA  15  13 
Pro forma adjusted operating profit   10
Cash flow from operating activities 13
Non-current assets  57** 63
Net debt and advances received 42 41 

*Figures adjusted for the divestment of business operations in Lapland and IFRS 16 standard,  
without nonrecurring items. 

** Including 9 million euros of goodwill recognised for Alma Consumer. 

The preliminary share of print-based revenue of the businesses to be divested for 2019 was approximately 90 percent and digital approximately 10 percent.  

Value of the assets of businesses to be divested was in Alma Media’s balance sheet EUR 84 million and liabilities EUR 73 million including EUR 41 million of mostly leased printing assets (preliminary, unaudited figures for 31.12.2019).

The divestment-related transaction costs are of approx. EUR 2.3 million, of which Alma Media has booked EUR 1.1 million as costs for the year 2019 and EUR 1.2 million and for the year 2020.

The divestment has an impact on Alma Media’s guidance for 2020. Alma Media will publish its outlook for 2020 in the Full-Year Result 2019 report on 14 February 2020. Alma Media will publish its guidance on the Group’s continuing businesses.

Analysts info  

Alma Media will organise together with Sanoma an English-language event for analysts today, 11 February 2020, starting at 12.30 p.m. EET at Sanomatalo, Töölönlahdenkatu 2, Helsinki. Alma Media President and CEO Kai Telanne and Sanoma Group President and CEO Susan Duinhoven will be presenting at the event.

The event can also be viewed as a webcast at To ask questions, please dial one of the following numbers prior to the conference start: 

FI: +358 981 710 310

SE: +46 856 642 651

UK: +44 333 300 0804

US: +1 855 857 0686

PIN code for the call is 92759113#

A recording of the event will be made available during the same day at  

The presentation materials from the event will be available at approximately 12.30 p.m. on the Alma Media website at  

News conference 

Alma Media and Sanoma will also organise a news conference today, 11 February 2020 at 14.30 p.m. EET at Sanomatalo, Töölönlahdenkatu 2, Helsinki. Alma Media President and CEO Kai Telanne and Sanoma Group President and CEO Susan Duinhoven will be presenting at the event.


More information:  
Kai Telanne, President and CEO, Alma Media, +358 10665 3500 
Juha Nuutinen, CFO, Alma Media, +358 10665 3873 

For media and interview requests, please contact Elina Kukkonen, SVP, Communications and Brand, +358 10665 2333  

Alma Media Corporation 
Board of Directors 


Distribution: Nasdaq Helsinki, main media,

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, Iltalehti, Aamulehti, and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitalisation, 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 1,900 professionals, of which approximately 30% work outside Finland. Alma Media’s revenue in 2018 was EUR 354.6 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at

  • Published: 11.2.2020, 08:00
  • Category: Releases, Stock exchange release

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