Alma Media issues a profit warning — the company does not issue a new guidance due to the uncertain market situation
Alma Media Corporation Inside information 25 March 2020 at 1.30 p.m.
ALMA MEDIA ISSUES A PROFIT WARNING — THE COMPANY DOES NOT ISSUE A NEW GUIDANCE DUE TO THE UNCERTAIN MARKET SITUATION
Alma Media changes the outlook statement for 2020 due to the estimated impact of COVID-19. The guidance issued previously, on 14 February 2020, is no longer valid under the changed circumstances. Due to the exceptional change in the operating environment related to the coronavirus epidemic and the resulting increase in uncertainty, Alma Media does not issue a new guidance at this point.
The general sudden decline in demand is estimated to have a significant indirect impact on business areas such as recruitment advertising in the Alma Markets segment and advertising sales in Alma Talent’s and Alma Consumer’s media and services. Majority of the events related to the company’s event business in the Alma Talent and Alma Markets segments have been postponed to the autumn 2020.
Despite the negative factors affecting business operations, Alma Media assesses the company’s financial position to be solid: the company has a strong balance sheet position and its liquidity situation is good.
For more information, please contact: Juha Nuutinen, CFO, Alma Media, tel. +358 10 665 3873
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