Alma Media has completed the sale of its minority share in Bolt Group Oy

Alma Media Corporation                           Press release                                         28 April 2022

ALMA MEDIA HAS COMPLETED THE SALE OF ITS MINORITY SHARE IN BOLT GROUP OY

Alma Media has completed the sale of its minority share in the Finnish staffing company Bolt Group Oy. The transaction was announced on February 18, 2022 and it was completed after inter alia the approval of the Finnish Competition and Consumer Authority on April 1, 2022.

Alma Career Ltd, a subsidiary of Alma Media Corporation, sold all of its share capital, representing 21.05% of the total share capital of Bolt Group Ltd, to a newly established company consisting of the Finnish private equity firm Vaaka Partners as well as the operative management and staff of Bolt Group Ltd. Alma Career acquired its holding in the company in December 2020.

Bolt Group is a Finnish staffing company specialising in temporary staffing for the construction sector. It also staffs companies operating in the industry, logistics and property management sectors, for example. In the financial year 2021, Bolt Group Oy made a profit of MEUR 0.9 with a revenue of MEUR 78.7.

The transaction resulted in an estimated gain on sale of MEUR 6.0 to Alma Media, which will be treated as an item recognised through profit or loss and as an adjusted item in the second quarter.

For more information, please contact: Vesa-Pekka Kirsi, Senior Vice President, Alma Career, tel. +358 (0)10 665 2587 

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

Alma Media in brief

Alma Media is a digital service business and media company with a strong capacity for renewal. We are building sustainable growth from media to services, providing content and services that benefit users in their everyday lives, work and leisure time. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, 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, an online marketplace for commercial properties and direct marketing services.

Alma Media operates in 11 countries in Europe and employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 275.4 million in 2021. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.