Alma Media revises its outlook and financial guidance for 2021 due to the Nettix acquisition
Alma Media Corporation Insider information 5 March 2021 at 8.01 a.m.
ALMA MEDIA REVISES ITS OUTLOOK AND FINANCIAL GUIDANCE FOR 2021 DUE TO THE NETTIX ACQUISITION
On 5 March 2021, Alma Media announced that it has signed an agreement to acquire Nettix Oy’s entire share capital from Otava Group. In 2020, Nettix Oy’s business operations to be acquired had revenue of MEUR 22.5, EBITDA of MEUR 11.2 and operating profit of MEUR 10.0.
The acquisition, if implemented in March–April as planned, will have an impact on Alma Media’s outlook and financial guidance for 2021.
New outlook and guidance
In 2021, Alma Media expects its full-year revenue and adjusted operating profit for continuing operations to increase compared to 2020. In 2020, the full-year revenue of the Group’s continuing operations was MEUR 230.2 and the adjusted operating profit was MEUR 45.4.
In the previous financial guidance issued on 17 February 2021, Alma Media expected its full-year revenue and adjusted operating profit for continuing operations in 2021 to remain at the previous year’s level.
The uncertainty in Alma Media’s operating environment is continuing due to the COVID-19 pandemic in 2021. In addition to the Nettix acquisition published today, Alma Media has previously announced that, due to the delay in the recognition of revenue from the Alma Career segment’s customer invoicing, the revenue and operating profit performance of the recruitment business will be negatively impacted in the first half of 2021. The result is also affected by the fixed cost items of shared operations, amounting to approximately MEUR 3, which were allocated to the regional news media business and printing operations that were divested in the spring of 2020.
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, 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 230.2 million in 2020. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com