Alma Media changes its segment structure

Alma Media Corporation    Press release 16 February 2024

ALMA MEDIA CHANGES ITS SEGMENT STRUCTURE

Alma Media will renew its organisation and segment structure as of 1 March 2024. In the future, Alma Media's business segments will be Alma Career, Alma Marketplaces and Alma News Media.  

The purpose of the segment structure revision is to accelerate the implementation of the Group strategy and increase transparency in business operations. The new segment structure enables closer collaboration within the segments and the efficient use of technology in service development.

As a result of the revision, the Alma News Media business segment includes Finland's largest digital news media Iltalehti, the leading financial news media Kauppalehti and other journalistic titles of Alma Media. Alma News Media segment is led by Juha-Petri Loimovuori.

The Alma Marketplaces segment includes marketplaces and ERP systems for housing, business premises and mobility, comparison services, and services for businesses and professionals. The segment's best-known services include Etuovi, Nettiauto, Objektvision and Suomenlaki.com. The Alma Marketplaces business segment is led by Santtu Elsinen.

The changes will not affect the Alma Career business segment, which continues to focus on recruitment business and recruitment-related services in Eastern Central Europe and Finland. Alma Career's recruitment services include Jobs.cz, Prace.cz, CV-Online, Profesia.sk, MojPosao.net, MojPosao.ba and Jobly. The Alma Career business segment is led by Vesa-Pekka Kirsi.

Alma Media will report the first interim report for 2024 in accordance with the new segment structure, and will publish quarterly and full-year comparison data for 2023 in April.

Pro forma key figures for the revised segment structure from 2023

Alma Media will also change its corporate structure by merging Alma Talent Oy and Alma Media Suomi Oy into one company. It is estimated that the merger of the legal companies will take place during August 2024.

Strategy for 2024-2026

Alma Media's strategy is based on digital transformation of the core business, growth of digital business and internationalization.

The transformation of business from media to marketplaces and digital services continues. The goal is to strengthen current business in the areas of recruitment, housing, motoring and media. Synergies between businesses are sought in cooperation and jointly produced services in areas such as audiences, data and technology, and advertising sales.

The marketplace and service business are moving towards more advanced digital platforms: revenue streams are diversifying and the offering is expanding with new digital buying and selling processes. In addition to organic development, growth is accelerated by acquisitions. In the media business, the transformation from print media to digital media continues. In the recruitment business, the internationalization path is progressing and we are also looking for new opportunities in the current markets.

More information:

Taru Lehtinen, CFO, Alma Media, tel. +358 10 665 3609
Elina Kukkonen, SVP, Communications & Brand, Alma Media tel. +358 10 665 2333

Alma Media in brief

Alma Media is an international company of digital media, marketplaces and services with a strong capacity for renewal. We inspire human curiosity and choice by creating services that combine technology and content with a local heart. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Jobly, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.

In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for businesses and professionals. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services and an online marketplace for commercial properties.

Alma Media operates in 12 countries in Europe and employs approximately 1,700 professionals. Alma Media’s revenue from continuing operations was EUR 305 million in 2023 of which the share of digital business was 82%. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.