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    ALMA   FI0009013114

ALMA MEDIA OYJ

(ALMA)
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Alma Media Oyj : issues positive profit warning due to stronger-than-anticipated development in Q2

07/09/2021 | 02:01am EDT

Alma Media Corporation                                 Insider information 9 July 2021 at 9.00 a.m.

ALMA MEDIA ISSUES POSITIVE PROFIT WARNING DUE TO STRONGER-THAN-ANTICIPATED DEVELOPMENT IN Q2

Alma Media is raising its guidance regarding the development of revenue from continuing operations and adjusted operating profit in 2021. The financial performance is improved by the stronger operational development of all Alma Media's business segments in April-June.

New Outlook

Alma Media expects its full-year revenue and adjusted operating profit from continuing operations in 2021 to increase significantly from the 2020 level. 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 its previous guidance issued on 5 March 2021 in connection with the Nettix deal and repeated on 21 April 2021, Alma Media expected its full-year revenue and adjusted operating profit for continuing operations to grow compared to 2020.

Guidance upgrade rationale

Alma Career recruitment business has recovered more rapidly than expected, rebounding after the sharp drop in demand due to the COVID-19 pandemic. Behind the rapid increase in demand for recruitment services may also be realisation of pent-up demand caused by the COVID-19 pandemic.

In other business segments, second-quarter revenue and operating profit also exceeded previously estimated levels. In April-June, advertising sales increased by nearly 70 percent from the comparison period. In Q2 2020, advertising sales were at exceptionally low levels due to the impact of the COVID-19 pandemic.

The strong growth in digital subscription-based content also continued during Q2. In the marketplace business, the demand for housing, motor vehicles and mobility services as well as the use of comparison services has continued to be strong during Q2. The development of Alma Talent sales has also been good during the first half of the year. In addition to organic growth, revenue and operating profit has increased due to acquisitions.

The impacts of the COVID-19 pandemic remain difficult to estimate, and therefore the uncertainty in Alma Media's operating environment continues during the second half of 2021.

Alma Media will publish its interim report from April-June on 21 July 2021 at 8.00.

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.

https://news.cision.com/alma-media/r/alma-media-issues-positive-profit-warning-due-to-stronger-than-anticipated-development-in-q2,c3382693

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 267 M 313 M 313 M
Net income 2021 40,9 M 47,9 M 47,9 M
Net Debt 2021 222 M 260 M 260 M
P/E ratio 2021 21,5x
Yield 2021 3,04%
Capitalization 886 M 1 037 M 1 038 M
EV / Sales 2021 4,15x
EV / Sales 2022 3,84x
Nbr of Employees 1 858
Free-Float 34,6%
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Number of Analysts 3
Last Close Price 10,76 €
Average target price 12,43 €
Spread / Average Target 15,6%
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Managers and Directors
Kai Telanne President & Chief Executive Officer
Juha Nuutinen Chief Financial Officer & Manager-Accounting
Jorma Jaakko Ollila Chairman
Catharina von Stackelberg-HammarÚn Independent Director
Petri Kalervo Niemisvirta Deputy Chairman
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