Adjusted financial information for Alma Media’s continuing operations for 2019

Alma Media Corporation              Stock Exchange Release               March 31, 2020 at 1.00 p.m. (EEST)

ADJUSTED FINANCIAL INFORMATION FOR ALMA MEDIA’S CONTINUING OPERATIONS FOR 2019

Alma Media adjusts its consolidated income statement and segment results for 2019 due to the divestment of the regional news media business and the printing business. Alma Media reported the divested businesses as discontinued operations in the financial statements for 2019. The divested businesses were previously reported primarily under the Alma Consumer segment. The post-divestment estimated and fixed costs related to support services have been allocated to the continuing operations.

For more information, please contact: Juha Nuutinen, CFO, Alma Media, tel. +358 10 665 3873

The comparison figures for the continuing operations are shown in the tables below. The figures are unaudited.

Alma Media, continuing operations

KEY FIGURES 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Revenue 62.1 64.1 58.2 65.8 250.2
Content revenue 15.8 16.0 14.9 17.5 64.2
Content revenue, print 12.7 12.8 11.6 13.8 50.9
Content revenue, digital 3.1 3.2 3.3 3.7 13.2
Advertising revenue 36.7 38.6 34.8 38.3 148.5
Advertising revenue, print 4.1 4.1 3.4 4.7 16.3
Advertising revenue, digital 32.6 34.5 31.4 33.6 132.2
Service revenue 9.6 9.5 8.5 10.0 37.6
Adjusted total expenses 50.7 52.2 44.8 53.4 201.1
Adjusted EBITDA 15.9 16.2 17.6 16.5 66.1
EBITDA  15.9 16.1 17.6 16.6 66.2
Adjusted operating profit 11.5 11.9 13.5 12.5 49.4
% of revenue 18.5 18.6 23.2 19.0 19.8
Operating profit (loss) 11.5 11.8 13.6 12.6 49.5
% of revenue 18.5 18.4 23.3 19.2 19.8
Profit for the period 9.1 9.3 11.8 10.2 40.5
Earnings per share, EUR (diluted) 0.09 0.09 0.12 0.11 0.41
Average no. of employees 1498 1538 1546 1536 1530
Digital business revenue 40.8 43.0 40.1 42.8 166.7
Digital business, % of revenue 65.8 67.1 68.8 65.1 66.6
REVENUE 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Alma Markets 25.0 25.6 24.9 24.6 100.0
Alma Talent 26.2 26.1 22.3 28.3 102.9
Alma Consumer 10.9 12.3 11.2 12.8 47.2
Segments total 62.0 64.0 58.4 65.7 250.1
Non-allocated operations 0.1 0.1 -0.1 0.1 0.2
Continuing operations total 62.1 64.1 58.2 65.8 250.2
ADJUSTED OPERATING PROFIT/LOSSMEUR 2019 2019 2019 2019 2019
Q1 Q2 Q3 Q4 YTD
Alma Markets 8.7 9.8 10.6 8.6 37.7
Alma Talent 3.8 3.3 2.9 4.8 14.8
Alma Consumer 1.0 2.0 1.3 1.8 6.2
Segments total 13.5 15.1 14.9 15.3 58.7
Non-allocated operations -2.0 -3.1 -1.3 -2.8 -9.2
Continuing operations total 11.5 11.9 13.5 12.5 49.4
ADJUSTED ITEMS 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Alma Markets
Gains (losses) on the sale of assets 0.1 0.1
Non-allocated
Gains (losses) on the sale of assets -0.1 0.2 0.0
Adjusted items in operating profit -0.1 0.1 0.2 0.1
Adjusted items in profit before tax -0.1 0.1 0.2 0.1
OPERATING PROFIT/LOSSMEUR 2019 2019 2019 2019 2019
Q1 Q2 Q3 Q4 YTD
Alma Markets 8.7 9.8 10.7 8.6 37.7
Alma Talent 3.8 3.3 2.9 4.8 14.8
Alma Consumer 1.0 2.0 1.3 1.8 6.2
Segments total 13.5 15.1 14.9 15.3 58.7
Non-allocated operations -2.0 -3.3 -1.3 -2.6 -9.2
Continuing operations total 11.5 11.8 13.6 12.6 49.5

Business segments, continuing operations

The continuing operations consist of Alma Markets, which focuses on digital marketplaces, Alma Talent, a provider of financial media and services aimed at professionals and businesses, and Alma Consumer, which focuses on the national consumer media business excluding discontinued operations.

Alma Markets key figures 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Revenue 25.0 25.6 24.9 24.6 100.0
Advertising revenue 22.8 23.4 22.8 22.3 91.3
Service revenue 2.2 2.2 2.1 2.2 8.7
Adjusted total expenses 16.3 15.9 14.3 16.0 62.5
Adjusted EBITDA 9.9 11.0 11.8 9.8 42.5
EBITDA 9.9 11.0 11.9 9.8 42.6
Adjusted operating profit 8.7 9.8 10.6 8.6 37.7
% of revenue 34.7 38.2 42.7 35.0 37.7
Operating profit/loss 8.7 9.8 10.7 8.6 37.7
% of revenue 34.7 38.2 43.0 35.0 37.7
Employees on average 682 687 680 696 686
Digital business revenue 25.0 25.6 24.9 24.6 100.0
Digital business, % of revenue 100.0 100.0 100.0 100.0 100.0
Alma Talent key figures 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Revenue 26.2 26.1 22.3 28.3 102.9
Content revenue 11.7 11.8 10.1 13.0 46.6
   Content revenue, print 8.7 8.6 6.8 9.3 33.5
   Content revenue, digital 3.0 3.1 3.3 3.7 13.1
Advertising revenue 7.5 7.6 6.4 8.6 30.2
   Advertising revenue, print 3.5 3.4 2.8 4.0 13.7
   Advertising revenue, digital 4.1 4.2 3.6 4.6 16.4
Service revenue 6.9 6.8 5.8 6.7 26.2
Adjusted total expenses 22.4 22.9 19.5 23.4 88.2
Adjusted EBITDA 5.1 4.5 4.1 6.1 19.9
EBITDA 5.1 4.5 4.1 6.1 19.9
Adjusted operating profit 3.8 3.3 2.9 4.8 14.8
% of revenue 14.6 12.5 12.9 17.1 14.4
Operating profit/loss 3.8 3.3 2.9 4.8 14.8
% of revenue 14.6 12.5 12.9 17.1 14.4
Average no. of employees, excl. telemarketers 481 494 497 486 489
Telemarketers on average
Digital business revenue 9.8 10.3 9.5 10.8 40.3
Digital business, % of revenue 37.3 39.3 42.5 38.2 39.2
Alma Consumer key figures 2019 2019 2019 2019 2019
MEUR Q1 Q2 Q3 Q4 YTD
Revenue 10.9 12.3 11.2 12.8 47.2
Content revenue 4.0 4.2 4.8 4.5 17.6
   Content revenue, print 4.0 4.2 4.8 4.5 17.5
   Content revenue, digital 0.0 0.0 0.0 0.0 0.1
Advertising revenue 6.4 7.7 5.7 7.4 27.2
   Advertising revenue, print 0.9 0.9 0.7 0.8 3.2
   Advertising revenue, digital 5.6 6.8 5.1 6.6 24.0
Service revenue 0.4 0.4 0.7 0.9 2.4
Adjusted total expenses 9.9 10.2 9.8 11.0 41.0
Adjusted EBITDA 1.1 2.2 1.5 2.0 6.8
EBITDA 1.1 2.2 1.5 2.0 6.8
Adjusted operating profit 1.0 2.0 1.3 1.8 6.2
% of revenue 8.8 16.5 12.1 14.3 13.1
Operating profit/loss 1.0 2.0 1.3 1.8 6.2
% of revenue 8.8 16.5 12.1 14.3 13.1
Average no. of employees 173 186 200 187 187
Digital business revenue 6.0 7.2 5.7 7.5 26.4
Digital business, % of revenue 55.0 58.3 51.1 58.5 55.9
CAPITAL EXPENDITURE MEUR 2019 2019 2019 2019 2019
Q1 Q2 Q3 Q4 YTD
Alma Markets 0.4 5.9 0.3 0.3 6.8
Alma Talent 0.2 0.0 0.1 0.1 0.4
Alma Consumer 0.0 0.0 4.3 0.0 4.3
Segments total 0.6 5.9 4.7 0.4 11.6
Non-allocated operations 0.4 0.2 0.2 0.3 1.0
Continuing operations total 1.0 6.1 4.9 0.7 12.6
CAPITAL EXPENDITURE AND ACQUISITIONSMEUR 2019 2019 2019 2019 2019
Q1 Q2 Q3 Q4 YTD
Capex 1.0 0.3 0.6 0.7 2.5
Acquisitions 0.0 5.8 4.3 0.0 10.2
Total 1.0 6.1 4.9 0.7 12.6
DEPRECIATIONMEUR 2019 2019 2019 2019 2019
Q1 Q2 Q3 Q4 YTD
Depreciation of tangible and intangible assets 3.0 2.9 2.6 2.5 11.0
Amortisation of intangible assets related to acquisitions 1.4 1.4 1.4 1.4 5.7
Total 4.4 4.3 4.0 4.0 16.7

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

Alma Media in brief

Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,800 professionals. Alma Media’s revenue from continuing operations was EUR 250.2 million in 2019. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com 

  • Date: 31.3.2020, 13:00
  • News type: Stock exchange release

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