CEO’s Review

CEO’s review Q2/2025: Profitability improved in all business segments

Alma Media’s business developed favourably in the second quarter. Revenue grew both organically and supported by acquisitions by 4.5% to MEUR 83.7. Adjusted operating profit increased by 8.9% to MEUR 21.1 and was 25.2% (24.2%) of revenue. The Group’s advertising sales also turned to growth, increasing by 2.1%. The share of revenue represented by digital business rose to 86.2%.

At the same time, our financial position strengthened: at the end of the quarter, our gearing was 71.4% (81.0%) and our equity ratio 46.1% (44.3%).

Service and technology investments as drivers of future growth

In the Alma Career segment, revenue decreased by 2.6% to MEUR 27.0. Adjusted operating profit increased by 2.2% to MEUR 11.4, representing 42.2% (40.2%) of revenue.

In local currencies, revenue decreased by 2.9% and adjusted operating profit increased by 2.0%. Invoicing in local currencies was on a par with the comparison period (Q1/2025: 1.9%). The segment’s profitability improved due to cost savings. In spite of wage inflation, savings were achieved as the number of employees decreased.

Labour market development varied in the segment’s operating countries: in the Czech Republic, the employment situation remained stable, and labour demand remained at a good level in all customer segments. In Slovakia, market development slowed, particularly due to increased caution among large customers in an uncertain economic situation. In Croatia, the positive development of employment continued as the unemployment rate decreased further, and there were already signs of labour shortages in certain seasonal sectors. In the Baltic countries, the overall situation in the labour markets remained stable, but recruitment activity increased slightly when compared to the previous year. In Finland, the situation remained challenging, and the number of new vacancies continued to decrease when compared to the previous year.

In the Alma Marketplaces segment, revenue growth was accelerated by the acquisition of Edilex Lakitieto. Revenue increased by 16.5% and amounted to MEUR 29.2, with the rate of organic growth being 9.5%. Expenses increased by 15.7%, which was attributable to acquisitions. Adjusted operating profit improved by 18.2% to MEUR 8.4, corresponding to 28.8% (28.4%) of revenue.

The housing market showed signs of recovery, which was reflected in an increase in the transaction volume for old dwellings, among other things. Revenue from the Real Estate business unit increased by 17.9% to MEUR 11.0. A total of 2,735 digital housing transactions were carried out on the DIAS platform in June, setting a new monthly high. The number of DIAS transactions increased by as much as 73% when compared to June 2024.

Revenue from the Mobility business unit increased by 4.3% to MEUR 9.4. Supported by the Edilex acquisition, the Insights business grew by 42.0% to MEUR 6.7.

The implementation of development projects continued, particularly in digital services related to the automotive and housing verticals, focusing on transactional business and the development of AI-assisted technology.

The Alma News Media segment’s revenue was on a par with the comparison period at MEUR 27.5. Adjusted expenses decreased by 2.9% and adjusted operating profit increasing by 20.1% to MEUR 4.6, representing 16.8% (14.0%) of revenue. The segment’s advertising revenue also turned to slight growth, increasing by 1.4%.

Interest in the news remained at a high level and the IPO market of the Helsinki Stock Exchange showed signs of a recovery. The share of digital business increased to 63.9% of the segment’s revenue. The number of digital subscriptions currently stands at approximately 216,700. Digital subscription sales have been further accelerated by Iltalehti Plus Extra, which was launched in May as Iltalehti’s more extensive subscription product.

Towards new services with the support of AI

The rapidly changing customer environment requires us to be agile and stay on the forefront of development, which is why we make purposeful investments in competence and technology. The continuous development, growth and scaling of business operations by taking advantage of the latest technology is a cornerstone of our strategy.

The adoption of AI is progressing rapidly across all of our businesses. The company has dozens of AI-based projects under way with the aim of improving the efficiency of operations, enriching service solutions and creating completely new concepts for the market.

For example, in May, we launched Edilex AI, a service that is based on generative AI and provides answers to legal questions quickly, accurately and based on reliable sources.

Kai Telanne
President and CEO

“The continuous development, growth and scaling of business operations by taking advantage of the latest technology is a cornerstone of our strategy.“