Sanoma Oyj - Company Announcement

Sanoma’s figures for 2013 based on IFRS 11 Joint Arrangements and new reporting structure

Sanoma Corporation, Stock Exchange Release, 7 April 2014 at 14:30 CET+1

Sanoma has adopted the new IFRS 11 Joint Arrangements as of 1 January 2014. The
standard permits only the equity method in consolidation of joint ventures, and
the proportional consolidation method is not allowed any longer. In the income
statement the share of result in the joint ventures is presented as part of the
operating profit and in the consolidated balance sheet as equity-accounted
investees. The change primarily relates to Media Belgium and Media Russia &
CEE. The first interim report for 2014 to be published on 30 April will be
prepared in accordance with the new standard. 

Adoption of IFRS 11 reduced 2013 consolidated net sales EUR 135.2 million. The
impact on profitability is minor, 2013 operating profit excluding non-recurring
items decreased EUR 0.2 million. Balance sheet total on 31 December 2013
decreased EUR 164.9 million and the total equity of the Sanoma Group reduced
EUR 59.1 million. Transition from proportional consolidation method to equity
method also has impact on the presentation of the cash flow statement. 

In addition, as announced on 31 October 2013, Sanoma will consist of two
segments: Consumer Media and Learning. Sanoma will report net sales and
profitability for three strategic business units: Media Netherlands, Media
Finland and Learning. Media Belgium and Media Russia & CEE will be reported in
the category ‘Other'. The change is effective as of 1 January 2014. 

Sanoma's financial reporting for 2013 has been adjusted to account for the
changes. All details are presented in the attached tables: 

  -- Key indicators
  -- Income statement
  -- Balance sheet
  -- Cash flow statement
  -- Net sales by strategic business unit
  -- Operating profit by strategic business unit
  -- Operating profit excluding non-recurring items by strategic business unit
  -- Segment information

Information is also available at www.sanoma.com/investors.

                                                  Restated  Change  As published
KEY INDICATORS                                       1-12/   1-12/         1-12/
EUR million                                           2013    2013          2013
Net sales                                          2,083.5  -135.2       2,218.7
Operating profit excluding non-recurring items       154.6    -0.2         154.9
% of net sales                                         7.4                   7.0
Operating profit                                    -257.7    14.6        -272.3
Result for the period                               -320.3    12.0        -332.3
Capital expenditure *                                 65.6    -1.8          67.3
% of net sales                                         3.1                   3.0
Return on equity (ROE), %                            -24.2                 -23.9
Return on investment (ROI), %                         -9.2                  -9.3
Equity ratio, %                                       37.2                  37.2
Net gearing, %                                        95.7                  91.7
Number of employees at the end of the period         9,035    -562         9,597
 (FTE)                                                                          
Average number of employees (FTE)                    9,446    -597        10,043
Earnings/share, EUR                                  -1.89    0.07         -1.97
Earnings/share excl. non-recurring items, EUR         0.54    0.01          0.53
Cash flow from operations/share, EUR                  0.73   -0.03          0.76
Equity, total                                      1,179.3   -59.1       1,238.4
Assets, total                                      3,349.1  -164.9       3,514.0
Equity/share, EUR                                     5.42   -0.36          5.78
* Including finance leases.                                                     


Additional information
Sanoma's Investor Relations, Olli Turunen, tel. +358 40 552 8907 or
ir@sanoma.com 

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.

Attachments:

Sanoma_restated_figures_2013.xlsx

Sanoma_restated_figures_2013.pdf