CHANGES TO ALMA MEDIA'S SEGMENT STRUCTURE AND THE NAMES OF BUSINESS UNITS
Alma Media Corporation Stock Exchange Release 20 April 2016 at 17:00 p.m. EEST
Changes to Alma Media’s segment structure and the names of business units
Alma Media Group’s reporting structure was changed at the beginning of 2016. The names of the Group’s business segments are also being changed. Alma Media’s reportable segments and the new names of its business segments are Alma Markets (previously Digital Consumer Services), Alma News & Life (previously National Consumer Media) and Alma Regions (previously Regional Media). In February, Alma Media announced that the name of the new unit created as a result of the combination of Alma Media’s Financial Media and Business Services and Talentum’s business operations is Alma Talent.
- The new names reflect the process of building a new Alma Media for the digital era, and they are part of our ongoing comprehensive brand renewal. Our aim was to create modern segment names that will stand the test of time. As our customers are at the centre of everything we do, the new segment names address the relevant target group for each unit. Internationality was also an important consideration. Alma Media has developed from a traditional Finnish print-focused media company into a European media and service company, says Kai Telanne, President and CEO of Alma Media.
Centralised services produced by the Group’s parent company and Talentum Corporation as well as centralised support services for advertising and digital sales for the entire Group are reported outside segment reporting.
The business operations of Alma Diverso, which was reported under the Alma Markets (Digital Consumer Services) segment in 2015, were transferred to the Alma News & Life and Alma Regions segments from the beginning of 2016. The revenue of the E-kontakti business has been transferred from Group service revenue to Group advertising revenue. In addition, a significant proportion of JM Tieto’s revenue will be categorised under online business after being previously categorised as non-online business.
As the structure and composition of the reportable segments have changed, Alma Media has, in accordance with the IFRS 8 Operating Segments standard, adjusted the corresponding items in segment information for the 2015 comparison period. The effect of the change, as well as segment revenue and operating profit under the previous and newly adopted segment structures, is summarised in the tables presented with this Stock Exchange Release.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and Investor Relations
For more information, please contact: Rauno Heinonen, Vice President, Corporate Communications and IR, tel. +358 10 665 2251
Distribution: NASDAQ Helsinki, main media
Alma Media in brief
Alma Media is a media company focusing on service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities presented by digitality, 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. The company employs approximately 2,500 professionals (excluding distributors), of whom 30% work outside Finland. Alma Media’s revenue in 2015 was EUR 291.5 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.