Alma Media updated its Long-Term Financial Targets

Alma Media Corporation Insider Information 16 February 2022 at 8.30 a.m.

ALMA MEDIA UPDATED ITS LONG-TERM FINANCIAL TARGETS

The board of Alma Media has decided to update the group's long-term financial targets, which relate to the growth, profitability and financial solidity of the business. The company raises its profitability target: going forward the adjusted operating profit margin target is more than 25%. Earlier target was more than 20%. The long-term financial targets related to the revenue growth and financial solidity remain the same as launched on September 16, 2021.

The target raise in the adjusted operating margin target reflects improved profitability which is attributable to inter alia the speed of recovery from the corona epidemic and the higher relative profitability of the digital marketplace business and its growing share in the Alma Media's business.

The long-term financial objectives are from 16 February 2022 as follows:

• Revenue growth: annual revenue growth of more than 5%

• Profitability: adjusted operating profit margin of more than 25%

• Financial solidity: Net Debt / EBITDA ratio less than 2.5 

The long-term targets are in line with IFRS calculation principles.

– The recruitment market in particular has grown faster than our expectations. In addition, the impact of the corona pandemic on our business has decreased and we have already turned our eyes on the post-pandemic times. We continue to execute our strategy based on the transformation of our core business as well as growth and internationalisation of our digital business. The long-term financial targets reflect the company's current structure, strategy and vision to emerge as Europe's leading company for digital content, marketplaces and services, says Kai Telanne, CEO of Alma Media.

Targets                                                                2021                2020                 2019                 2018

Revenue growth > 5 %                                      19.6%              -8.0%               -1.8%                   2.4%

Adj. operating profit margin > 25%                    22.2%              19.7%              19.8%                 18.7%

Net Debt / EBITDA ratio < 2,5                             2.3                  -0.2                    0.3                      0.0

Annual revenue growth (more than 5%) refers specifically to the years 2022 and beyond. The revenue growth target includes also potential acquisitions.

Alma Media's dividend policy remains intact. The company aims to distribute more than 50 per cent of earnings per share as a dividend. However, the dividend is no longer presented as part of the company's long-term financial targets, though disclosed in Alma Media's dividend policy separately.

Financial Statement Bulletin and Q4 2021 result
Alma Media Corporation published the Financial Statement Bulletin for January 1–December 31, 2021 accounting period earlier today. A combined analyst, investor and media conference and webcast will be held in English by President & CEO Kai Telanne and CFO Juha Nuutinen later today at 11.00–12.00. The live webcast can be followed via https://almamedia.videosync.fi/q4-2021-results/. Questions can be asked through the webcast chat function.

An on-demand version of the webcast and the presentation material will be available on the company’s website on the same day www.almamedia.fi/en/investors/reports-and-presentations/presentations.

More information: 
Juha Nuutinen, CFO, Alma Media, +358 10 665 3873

Distribution: Nasdaq Helsinki, main media, www.almamedia.com

Alma Media in brief

Alma Media is a digital service business and media company with a strong capacity for renewal. We are building sustainable growth from media to services, providing content and services that benefit users in their everyday lives, work and leisure time. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.

In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for professionals and businesses. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services, an online marketplace for commercial properties and direct marketing services.

Alma Media operates in 11 countries in Europe and employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 275.4 million in 2021. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.

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