Alma Media issues positive profit warning following better than anticipated profitability development in Q4

Alma Media Corporation                                         Inside information 12 January 2021 at 1.20 p.m.

ALMA MEDIA ISSUES POSITIVE PROFIT WARNING FOLLOWING BETTER THAN ANTICIPATED PROFITABILITY DEVELOPMENT IN Q4

Alma Media raises its guidance for the 2020 adjusted operating profit for continuing operations. The adjusted operating profit for Q4 2020 falls short of the level of the comparison period, while fall in profitability is less than anticipated in 2020. The company expects that the adjusted operating profit for 2020 will decline less than 10 per cent of the comparison period.

New outlook

Alma Media expects its full-year revenue for 2020 from continuing operations to decline significantly and the adjusted operating profit to decline from the 2019 level. In 2019, the full-year revenue of the continuing operations was MEUR 250.2 and the adjusted operating profit was MEUR 49.4.

In its previous guidance issued on 22 October 2020, Alma Media expected its full-year revenue and adjusted operating profit to decline significantly from the 2019 level.

Guidance upgrade rationale

The adjusted operating profit for Q4 has developed more favourably than anticipated, following the growth of digital advertising sales as well as the smaller than expected decline in revenue from the recruitment business. The good development in digital subscription sales also continued during the last quarter. In the marketplace business, the revenues from comparison services and housing-related services grew during the last quarter.

Alma Media will publish its 2020 Financial Statements Bulletin on 17 February 2021. The company will publish its outlook and guidance for 2021 at the same time.

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

For more information, please contact:
Juha Nuutinen, CFO, telephone +358 (0)10 665 3873

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, 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 1,500 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