The outcome of Alma Media Corporation’s impairment tests for 2017

Alma Media Corporation                  Stock exchange release December 18, 2017 at 2.30 p.m. (EET)  

THE OUTCOME OF ALMA MEDIA CORPORATION’S IMPAIRMENT TESTS FOR 2017 

Alma Media has completed its regular annual goodwill impairment tests for the Group. As a result of the tests, the company will recognise in its consolidated financial statements a total of EUR 4.0 million in impairment in the fourth quarter of 2017. The impairment is directed at investment properties.  

The write-down will be reported in Alma Media’s fourth quarter financial result as an adjusted item. Alma Media will publish its interim report for the fourth quarter and its Financial Statement Release for 2017 on 14 February 2018. The company maintains the outlook issued in the interim report dated 27 October 2017, according to which its full-year revenue is expected to remain at the same level as in 2016 and its adjusted operating profit is expected to increase clearly from the 2016 level. 

ALMA MEDIA CORPORATION 

Elina Kukkonen 

Senior Vice President, Communications and Brand 

Further information: 

Juha Nuutinen, CFO, Alma Media Corporation, tel. +358 50 438 0984 

Alma Media in brief

Alma Media is a media company focusing on the 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 of 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. Alma Media employs approximately 2,300 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2016 was EUR 353.2 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.