Alma Media nets 9,0 million euro for rearranging office and printing property lease agreement
ALMA MEDIA CORPORATION STOCK EXCHANGE RELEASE 26 OCT 2007, AT 8.30
ALMA MEDIA NETS 9.0 MILLION EURO FOR REARRANGING OFFICE AND PRINTING PROPERTY LEASE AGREEMENT
Alma Media Corporation will terminate its finance lease agreement on an office and printing facility on Patamäenkatu street in Tampere, Finland, and will enter a new lease agreement with a new lessor. The arrangement will create non-recurring profits of 9.0 million euro, which will be included in the financial report for the last quarter of 2007.
This arrangement follows the change of ownership of the company managing the property. The old finance lease agreement will be terminated in connection with the ownership change. Alma Media Corporation will enter a new 15-year operating lease agreement with the new owner. The arrangement will be effected in late October 2007.
The new lease agreement will improve the Corporation's annual net result by 0.3 million euro during the first year. According to the IFRS accounting principles, the arrangement also creates non-recurring profits in the amount of 9.0 million euro for Alma Media.
Among other products, the Patamäenkatu printing house in Tampere prints Aamulehti, Iltalehti and Kauppalehti published by Alma Media.
ALMA MEDIA CORPORATION
VP, Corporate Communications & IR
Teemu Kangas-Kärki, CFO, tel. +35810 665 2244.
Helsinki Exchanges, principal media
Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and the online media. Its best known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
Net sales in 2006 totaled EUR 302 million and the operating margin was 16 %. The company's share is listed in the Mid Cap segment of the OMX Nordic Exchange's Nordic List, trading code ALN1V. More information at www.almamedia.fi.
- Date: 26.10.2007, 10:30
- News type: Stock exchange release
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