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2017-04-26 07:30:01 CEST 2017-04-26 07:30:01 CEST REGLAMENTUOJAMA INFORMACIJA Sanoma Oyj - Interim report (Q1 and Q3)Sanoma’s Interim Report 1 January–31 March 2017: Operational Result Continued to Improve
Sanoma Corporation, Stock Exchange Release, 26 April 2017 at 08:30 CET+1 First quarter
Outlook (unchanged from the revised outlook published on 10 April 2017) For 2017, Sanoma expects that the Group’s consolidated net sales adjusted for structural changes, including the divestment of SBS, will be stable and the operational EBIT margin will be above 10%. The outlook is based on the assumption of the advertising markets development in the Netherlands and Finland being in line with that of 2016.
Key indicators (based on reported figures, not adjusted for structural changes)
* Including finance leases.
Sanoma presents certain financial performance measures (alternative performance measures or APMs) on a non-IFRS basis. The APMs are provided to reflect the underlying business performance and to enhance comparability from period to period. APMs should not be considered as a substitute for measures of performance in accordance with IFRS. More information is available at Sanoma.com.
Organic growth of net sales, %
Susan Duinhoven, President and CEO “The improvements in Sanoma’s profit continued in the first quarter of the year. Our operational EBIT improved to EUR 11.4 million (2016: 1.9). Most of the improvement in profitability came from our Media business in Finland. The result improved due to continuous cost innovations and one-off corrections related to changes in accounting estimates. Sales were stable with TV and online sales developing favourably. Media Finland also improved its market share in the Finnish advertising market to 28.6 % (2016: 27.3%). In Media BeNe the operational EBIT improved thanks to cost innovations, in particular in the print and online portfolio. The Dutch TV market continued to be under pressure, which impacted SBS results. In the seasonally small first quarter in Learning, the top line came in somewhat lower than in the comparable period due to timing differences. The profitability was impacted by lower sales and higher depreciation and amortisation related to earlier investments as well as costs related to creating new methods for the Polish market currently undergoing an educational reform. The integration of De Boeck in Belgium increased the seasonal loss of the first quarter. The full year effect of this highly synergetic acquisition will be positive. In the beginning of April, we announced the divestment of SBS, which will mark our exit from the Dutch free-to-air TV market. It is a result of our strategic review: we have decided to focus on strongholds, businesses where we have – or can achieve – a leading market position. Leading brands give us the opportunity to offer our customers a unique combination of both reach and targeting and allow us to benefit from the scale of our operations. We continue to pursue opportunities in our Learning business, as well as in our cross-media businesses in Finland, the Netherlands and Belgium. The transaction resulted in a non-cash capital loss with a net impact of EUR -286.8 million on our net result in the first quarter. Due to the reduced exposure to the uncertainties of the Dutch TV business and the continued strong results in our Finnish media business, we improved our outlook for the year 2017 in connection with announcing the SBS divestment.”
January–March 2017 Interim Report webcast The event for analysts, investors and media will be held in English by President and CEO Susan Duinhoven and CFO and COO Markus Holm on 26 April 2017 at 11:00 Finnish time (9:00 UK time) at Sanomatalo, Töölönlahdenkatu 2, Helsinki. The live webcast can be viewed on Sanoma’s website at www.sanoma.com/en/investors and on demand after the event.
Please join in 5 –10 minutes prior to the start time by dialing Conference id: 9595551
Financial reporting 2017
- Half-Year Report (January–June) on 25 July 2017, approx. at 8:30 Sanoma will organise a Capital Markets Day for analysts and institutional investors in Helsinki on 4 May 2017. For more information, contact ir@sanoma.com
Sanoma.com
Sanoma Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child. With companies operating in Finland, the Netherlands, Belgium, Poland and Sweden, our net sales totalled EUR 1.6 billion and we employed more than 5,000 professionals in 2016. The Sanoma shares are listed on Nasdaq Helsinki. |
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