From GlobeNewswire: 2024-05-08 01:30:00

Sanoma Corporation released its Interim Report for Q1 2024, showing an improvement in performance despite it being a seasonally small quarter. Net sales grew to EUR 221 million, with a 5% organic growth. Operational EBIT increased to EUR -24 million, and the free cash flow improved to EUR -44 million. Sanoma also paid a dividend of EUR 0.37 per share for 2023.

President and CEO Rob Kolkman emphasized the positive impact of cost containment measures and price increases in both Learning and Media Finland. The company announced two divestments in January 2024. In Learning, Sanoma expects stable operational EBIT margins for FY 2024, while Media Finland saw growth in subscriptions and stable advertising sales amidst market volatility.

Sanoma’s Outlook for 2024 remains unchanged, expecting reported net sales of EUR 1.29-1.34 billion and operational EBIT of EUR 160–180 million. The company continues to focus on long-term profitability targets for Learning and improving digitalization in Media Finland. Sanoma aims to reach a 23% operational EBIT margin excl. PPA in Learning by 2026.

Key indicators for Q1 2024 saw improvements like an increase in operational EBITDA, a decrease in net debt, and a stable equity ratio. Sanoma’s commitment to sustainability includes maximizing their positive impact on society and minimizing environmental footprint. The company’s learning products aim to develop children’s talents, while media offerings provide independent journalism and entertainment.

An analyst and investor conference, led by CEO Rob Kolkman and CFO Alex Green, will be held to discuss the Q1 2024 results. Interested participants can join the live webcast for more insights. Sanoma’s dedication to enhancing learning and media offerings, along with their financial performance improvements, showcase a promising start to 2024.



Read more at GlobeNewswire:: Sanoma Corporation, Interim Report 1 January–31 March 2024: