Sanoma Corporation reports strong earnings improvement in Learning and Media Finland in first half of 2024.

From GlobeNewswire: 2024-07-24 01:30:00

Sanoma Corporation reported a strong earnings improvement in both Learning and Media Finland in the first half of 2024. Net sales in Q2 amounted to EUR 342 million, with a 1% organic net sales growth compared to 2023. Operational EBIT increased to EUR 61 million, with a strong performance in Media Finland.

In the first half of 2024, the Group’s net sales were EUR 563 million, with a 3% organic net sales growth. Operational EBIT rose to EUR 37 million, driven by improved earnings in Learning and Media Finland. Free cash flow improved to EUR -58 million, with net debt/Adj. EBITDA at 2.9, below the long-term target level of ‘below 3.0’.

For 2024, Sanoma expects reported net sales of EUR 1.29-1.34 billion and operational EBIT excl. PPA of EUR 160-180 million. Despite a slight decline in the Finnish advertising market, the company remains optimistic about stable economic conditions in its operating countries. President and CEO Rob Kolkman highlighted strong earnings improvement and the implementation of strategic focus areas for the future.



Read more at GlobeNewswire:: Sanoma Corporation, Half-Year Report 1 January–30 June