Sanoma Oyj - Company Announcement

Sanoma concluded annual impairment testing, impairment of around EUR 50 million to be recognised – no change on outlook

Sanoma Corporation, Stock Exchange Release, 18 December 2014 at 9:05 CET+1

Sanoma Group has concluded the annual impairment testing of 2014.

IFRS requires goodwill impairment testing of cash generating units to be done
at least annually to confirm that the recoverable amounts of non-current assets
exceed their carrying values. Recoverable amount is also to be evaluated
whenever there is an indication that the asset may be impaired. 

Cash generating units were tested for impairment based on strategic financials.
The total impairment charge is around EUR 50 million, of which around EUR 25
million in Sanoma Media Belgium (impairment of goodwill), around EUR 13 million
in Sanoma Media Russia & CEE (impairment in joint ventures) and around EUR 12
million in Sanoma Media Netherlands (impairment of definite lifetime intangible
assets). The impairment charges will be recognised as non-cash non-recurring
items in the fourth quarter of 2014. 

The impairment charges have no impact on Group's 2014 outlook.

Additional information
Sanoma's Investor Relations, Olli Turunen, tel. +358 40 552 8907

Sanoma.com

Get the world. Sanoma helps people access and understand the world.

We believe in a world full of opportunities, feelings, reactions and
inspiration. A world that you can reach, influence, explore and share. We want
to make it yours. 

Sanoma is a front running consumer media and learning company in Europe. In
Finland and The Netherlands we are the market leading media company with a
broad presence across multiple platforms. Our main markets in learning are
Belgium, Finland, the Netherlands, Poland and Sweden. In 2013, Sanoma's net
sales totalled EUR 2.1 billion. Sanoma is listed on the NASDAQ OMX Helsinki
stock exchange.