Correction: Alma Media has set new Long-Term Financial Targets

Alma Media Corporation Insider Information 16 September 2021 at 9.00 a.m.

REASON FOR CORRECTION: Alma Media corrects the stock exchange release published on Thursday 16 September 2021 at 9.15 a.m. the table contained erroneous symbol (%) concerning the net debt / EBITDA figures.

ALMA MEDIA HAS SET NEW LONG-TERM FINANCIAL TARGETS

The board of Alma Media has decided on group's new long-term financial targets. The company's long-term financial targets relate to the growth, profitability and financial solidity of the business.

The long-term financial objectives are:

• Revenue growth: annual revenue growth of more than 5 per cent

• Profitability: adjusted operating profit margin of more than 20%

• Financial solidity: Net Debt / EBITDA ratio less than 2.5  

The long-term targets are in line with IFRS calculation principles.

• Alma Media has undergone a significant transformation over the course of a few years as having divested regional media and print business and invested in digital marketplace business. The new long-term financial targets reflect the new structure of the company, the strategy and ambition for leading European company of digital content, marketplaces and services, Alma Media CEO Kai Telanne says.

Annual revenue growth (more than 5%) refers specifically to the years 2022 and beyond. The revenue growth in 2021 is well above the 5% level. The revenue growth target includes also potential acquisitions.

Alma Media's dividend policy remains intact. The company aims to distribute more than 50 per cent of earnings per share as a dividend. However, the dividend is no longer presented as part of the company's long-term financial targets, though disclosed in Alma Media's dividend policy separately.

Strategy

Alma Media continues the transformation of its core business, the growth of its digital business, and the internationalization.

The company's vision

As part of its strategy process, Alma Media has also clarified the company vision: We inspire human curiosity and choice. We believe that there will be sustainable growth in society and businesses when individuals have the freedom and opportunity to make the best choices when and where they matter the most.

Capital Markets Day 16 September 2021

The company will further outline its strategy and updated long-term financial targets at Capital Markets Day, which will take place today in Helsinki. Presentations begin at 1 p.m. and can be followed live https://almamedia.videosync.fi/2021-09-16-almamediacmdevent/register. Webcast recordings will become available in the afternoon at https://www.almamedia.fi/en/capital-markets-day-2021/

Further information:
Juha Nuutinen, CFO, telephone +358 (0)10 665 3873

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

Alma Media in brief

Alma Media is a dynamic multi-channel 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.

Alma Media operates in 11 countries in Europe and 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.