Alma Media Corporation Financial Statements Bulletin 5
February 2026 at 8.00 a.m.
ALMA MEDIA'S FINANCIAL STATEMENTS BULLETIN JANUARY-DECEMBER 2025: The adjusted
operating profit grew by 8.1% in Q4 and 6.8% in FY 2025
Financial performance October-December 2025:
· Revenue MEUR 84.9 (81.2), up 4.6%.
· The share of digital business was 85.4% (83.6%) of revenue.
· Adjusted operating profit MEUR 21.1 (19.5), 24.8% (24.0%) of revenue.
· Operating profit MEUR 18.7 (17.7), up 5.9%.
· Alma Career: Revenue and the adjusted operating profit on par with the
comparison period.
· Alma Marketplaces: Revenue grew by 17.5% organically and supported by
acquisitions, while adjusted operating profit continued to improve.
· Alma News Media: Profitability continued to improve, the adjusted operating
profit margin at 18.9%.
· Earnings per share EUR 0.15 (0.15), up 4.2%.
Financial performance January-December 2025:
· Revenue MEUR 327.1 (321.7), up 4.6%.
· The share of digital business was 85.9% (84.2%) of revenue.
· Adjusted operating profit MEUR 82.1 (76.9), 25.1% (24.6%) of revenue.
· Operating profit MEUR 77.8 (73.4), up 6.0%.
· Earnings per share EUR 0.67 (0.64), up 5.9%.
· The Board's preliminary dividend proposal: EUR 0.48 (0.46) per share.
Key figures
2025 2024 Change 2025 2024 Change
MEUR Q4 Q4 % Q1-Q4 Q1-Q4 %
Revenue 84.9 81.2 4.6 327.1 312.7 4.6
Classified 31.2 29.8 4.5 126.5 122.2 3.5
Advertising 16.1 16.5 -2.6 58.9 60.0 -1.9
Digital services 17.8 15.0 19.2 67.7 56.5 19.9
*
Content 13.0 13.2 -1.6 50.8 50.6 0.4
Other * 6.7 6.6 2.1 23.2 23.3 -0.4
Digital business 72.5 67.9 6.9 280.8 263.4 6.6
revenue
Digital 85.4 83.6 85.9 84.2
business, % of
revenue
Adjusted total 64.0 61.8 3.5 245.3 236.2 3.9
expenses
Adjusted EBITDA 25.7 23.9 7.8 100.4 94.0 6.8
EBITDA 23.9 22.5 6.4 96.7 91.0 6.3
Adjusted 21.1 19.5 8.1 82.1 76.9 6.8
operating profit
% of revenue 24.8 24.0 25.1 24.6
Operating 18.7 17.7 5.9 77.8 73.4 6.0
profit/loss
% of revenue 22.0 21.8 23.8 23.5
Profit for the 17.0 16.5 3.2 70.7 67.0 5.6
period before
tax
Profit for the 12.6 12.1 3.9 55.7 52.6 5.9
period
* The classification of revenue has been further specified between digital
services and other revenue. The corresponding adjustment has been made to the
comparison figures.
Preliminary dividend proposal to the Annual General Meeting
On 31 December 2025, the Group's parent company had distributable funds
totalling EUR 182,390,270 (155,670,182). Alma Media's Board of Directors
proposes to the Annual General Meeting that a dividend of EUR 0.48 per share be
paid for the financial year 2025 (2024: EUR 0.46 per share). The dividend will
be paid to shareholders who are registered in Alma Media Corporation's
shareholder register maintained by Euroclear Finland Ltd on the record date of
the payment, 13 April 2026. The Board of Directors proposes that the dividend be
paid on 20 April 2026. Based on the number of outstanding shares on the closing
date, 31 December 2025, the dividend payment totals EUR 39,443,384 (37,786,811).
Alma Media publishes notice to the Annual General Meeting of 25 February 2026,
Financial Statements and Dividend Proposal will be published on 19 March 2026.
No essential changes have taken place after the end of the financial year with
respect to the company's financial standing. The proposed distribution of profit
does not, in the view of the Board of Directors, compromise the company's
liquidity.
CEO's review: Digital business fueled growth - development investments laid the
foundation for the future
Our business developed positively in Q4. Revenue grew by 4.6% to EUR 84.9
million, supported both organically and by acquisitions. Adjusted operating
profit increased by 8.1% to MEUR 21.1, representing 24.8% of revenue. Digital
business grew by 6.9%, with its share of total revenue rising to 85.4%. Revenue
from digital services grew by 19.2% to MEUR 17.8.
Our financial position continued to strengthen through strong cash flow: gearing
decreased to 50.5% (59.6%), and the equity ratio improved to 52.6% (48.6%).
Demand for used homes and cars continued to recover moderately. Consumer
confidence did not yet return, which was still reflected in cautious household
investment decisions and increased savings rates. In Finland, the economic
outlook remained uncertain.
Investments in technology and development accelerate the growth path
Revenue for the Alma Career segment remained at the comparison period's level at
MEUR 26.4 (26.3). In local currencies, revenue was down by 1.9%, but invoicing
picked up by 2.3%. Profitability was on par with the comparison period.
Development costs grew due to cloud migration and the development of the shared
job platform, but personnel expenses decreased as headcount declined.
Labour market performance varied across the segment's operating countries. In
Czechia, market conditions remained strong and unemployment stayed among the
lowest in the EU. All customer groups showed positive development, with growth
both in job posting sales and in value-added services. In Slovakia, development
remained subdued, with recruitment caution visible across customer segments. In
Croatia, unemployment remained low and demand for labour strong. Labour
shortages in labour-intensive industries were increasingly addressed through
international workforce brought in by staffing agencies rather than traditional
job portals. In the Baltic countries, development remained stable and demand for
recruitment services increased. Despite a moderate increase in the number of
open positions in Finland, job postings continued to decline and the market
situation remained challenging.
In the Alma Marketplaces segment's revenue grew by 17.5% to MEUR 30.4, both
organically and through acquisitions. Organic growth totaled 6.6%. Acquisitions
drove cost levels up by 16.0%. Adjusted operating profit surged by 26.9% to MEUR
8.7, representing 28.8% (26.6%) of revenue. Investments made in the segment over
the past two years are now visible in both growth and profitability.
Revenue of the Real Estate business unit rose by 20.4% to MEUR 11.3. Growth of
23.6% in Nordic commercial real estate services was driven by strong demand in
the Swedish market and by productisation and pricing reforms. Increasing
regulatory requirements in Real Estate Insights, the gradual recovery of the
housing market, and growth in transactional revenue supported overall
performance. The gradual recovery of the domestic housing market was reflected
in moderate growth in used home transactions. More than half of real estate
agents' used apartment sales were completed digitally. In October, a record
2,945 digital home transactions were completed, including Finland's all-time
100,000th digital property transaction.
Revenue in the Mobility business unit grew by 2.7% to MEUR 9.2. Following the
acquisition of Edilex Lakitieto Oy and the growth of annual recurring revenue,
the Insights business unit's revenue climbed by 33.7% to MEUR 7.5. Comparison
Services revenue grew by 25.1% driven by the acquisition of Effortia Oy's
electricity comparison services.
Revenue for the Alma News Media segment amounted to MEUR 28.3, on par with
comparison period, when discontinued brands are taken into account. Adjusted
operating profit strengthened by 5.0% to MEUR 5.3, reaching a record 18.9%
(17.4%) of revenue, even though the segment's advertising sales declined
organically by 1.1% to MEUR 13.0. The segment has actively developed its product
portfolio, and digital content revenue grew by 4.9%.
In a busy news environment, new IPOs, strong performance of the Helsinki stock
market and the popularity of saving and investing increased demand for
investment content. Iltalehti maintained its strong position as Finland's
largest digital news medium. Kauppalehti renewed its stock market service, and
the daily Talousaamu broadcast increased its viewership. The share of digital
business within the segment's revenue grew to 63%, and the total number of
digital subscriptions rose by 10.9% to nearly 230,000 in total. At Kauppalehti,
digital subscription growth was supported especially by the introduction of an
AI-based dynamic paywall during the summer.
AI and data accelerate our innovation efforts
To succeed in a variable operating environment, we continued to invest in
talent, technology and service development. Data-driven and AI-enabled solutions
deepen customer collaboration, support long-term value creation and open new
growth opportunities.
We have moved from experimentation to the systematic, permanent use of AI across
all areas of our business. In the AI era, we have succeeded in harnessing data
consistently to create tangible value for our customers. Our AI-powered, data
-driven solutions have been very well received in the market, and customers have
incorporated our commercial AI services into their own operations. Our objective
is to build sustainable competitive advantage for our customers and for our own
business in the era of artificial intelligence.
Kai Telanne
President and CEO
Operating environment
In its most recent economic forecast (11/2025), the European Commission projects
economic growth of 1.4%, inflation of 2.1%, and the unemployment rate of 5.9% in
the EU for 2026.
The Commission forecasts that Finland's economic growth will accelerate from
0.1% in 2025 to 0.9% in 2026, inflation will decline from 1.9% to 1.6%, and the
unemployment rate will fall from 9.5% to 9.3%. The weakening of employment has
halted due to labour force growth and strengthened incentives. In the industrial
sector, employment and order intake indicate a gradual recovery in exports, and
the economy is moving from recession toward slow growth. Inflation and interest
rates are expected to remain moderate, and real wages to increase, but consumer
confidence remains weak. As a result, households are postponing major purchases
for precautionary reasons, which is reflected in a higher savings rate in
Finland.
In addition to Finland, Alma Media's main markets are Czechia and Slovakia in
Central Europe and Croatia in Southern Europe. According to the Commission's
forecast, GDP growth in 2026 is expected to be 1.9% in Czechia, 1.0% in
Slovakia, and 2.9% in Croatia. The unemployment rates are estimated to be 3.0%
in Czechia, 5.6% in Slovakia, and 4.5% in Croatia.
Alma Media's main operating countries are dependent on foreign trade. Risks
related to global trade policy and geopolitics are elevated, and uncertainty in
expectations has grown, which may be reflected in economic development.
Outlook for 2026
Alma Media expects its full-year revenue of 2026 to remain at the 2025 level and
the adjusted operating profit to grow. The full-year revenue for 2025 was MEUR
327.1 and the adjusted operating profit was MEUR 82.1.
Background for the outlook
The outlook is based on an assessment that the economies in the company's main
markets are expected to remain broadly unchanged, while market uncertainty
persists. Fluctuations in the global economy may affect market developments.
The subdued growth of the Finnish market and weak consumer confidence are
expected to continue, and advertising is still characterised by uncertainty. The
Group's diversified business portfolio, both geographically across several
markets and across multiple business areas, together with disciplined cost
management, helps to stabilise the company's business performance even in
challenging market conditions.
Market situation in the main markets in Finland
Market development in the automotive industry
According to statistics provided by the Finnish information Centre of the
Automobile Sector, the first registrations of new passenger cars decreased by
3.0% in 2025 to 71,888 units, while the trade in used passenger cars increased
by 4.1% to 643,000 vehicles. In Q4, sales of used cars remained stable, but
registrations of new cars declined by 3.4%.
Market development in housing
According to the Central Federation of Finnish Real Estate Agencies, housing
transaction volumes rose by a total of 10.7% in 2025. In October-December, sales
of used homes (14,329 units) grew by 3.6%, while sales of new homes (364 units)
dipped by 41.4%.
In the rental market, supply remains abundant, which is limiting rent increases.
In the owner-occupied housing market, oversupply has grown as both projects
under construction and newly completed units have increased available inventory.
Housing construction is still expected to recover only gradually.
Market development in the media business
According to Kantar TNS, a total of 1,261 million euros was spent on media
advertising in 2025, which is 0.7% less than in 2024. When social media and
search advertising are excluded from the total, media advertising decreased by
3.0%. Among industries, the largest increases in media advertising came from oil
and energy companies, telecommunications services, and advertisers in the travel
and transport sectors. Advertising in cosmetics, construction, and clothing
declined the most. In December 2025, media advertising decreased by 8.8% year-on
-year.
More information:
Kai Telanne, President and CEO, tel. +358 (0)10 665 3500
Taru Lehtinen, CFO, tel. +358 (0)10 665 3609
News conference and live webcast
Alma Media Corporation will publish the Financial Statement Bulletin for January
1-December 31, 2025, accounting period on Thursday, 5 February 2026
approximately at 8.00 EET.
A combined analyst, investor and media conference and webcast will be held in
English by President & CEO Kai Telanne and CFO Taru Lehtinen at 11.00-12.00.
The conference will be arranged in the Alma House (address: Alvar Aallon katu 3
C, Helsinki). To participate in the conference in Alma House, we kindly ask you
to register in advance by e-mail to: kutsut@almamedia.fi.
The live webcast can be followed via https://almamedia.events.inderes.com/q4
-2025/register (https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2
Falmamedia.events.inderes.com%2Fq4
-2025%2Fregister&data=05%7C02%7Cminna.oksanen%40almamedia.fi%7C489ea062d358417abc
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F41gkCeNow24%2FQITZCgbj4Q%3D&reserved=0). Questions can be asked through the
webcast chat function.
An on-demand version of the webcast and the presentation material will be
available on the company's website on the same day
www.almamedia.fi/en/investors/reports-and
-presentations/presentations (https://eur02.safelinks.protection.outlook.com/?url
=http%3A%2F%2Fwww.almamedia.fi%2Fen%2Finvestors%2Freports-and
-presentations%2Fpresentations&data=05%7C02%7Cminna.oksanen%40almamedia.fi%7C489e
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GLQtXZuXyFU6TpMKIUBzTLyn5e6ucAw%3D&reserved=0).
Alma Media's financial calendar 2026
· Interim Report for January-March 2026 on Wednesday, 29 April 2026, at
approximately 8:00 a.m. EET
· Interim Report for January-June 2026 on Wednesday, 12 August 2026, at
approximately 8:00 a.m. EET
· Interim Report for January-September 2026 on Thursday, 29 October 2026, at
approximately 8:00 a.m. EET
· The Financial Statements, Report by the Board of Directors, Auditor's Report
and Corporate Governance Statement for the financial year 2025 will be published
by Thursday, 19 March 2026.
· The Annual General Meeting is planned to be held on Thursday, 9 April 2026.
The materials related to the Annual General Meeting will be available on the
Alma Media website.
ALMA MEDIA CORPORATION
Board of Directors
Distribution: NASDAQ Helsinki, main media,
www.almamedia.fi/en (https://eur02.safelinks.protection.outlook.com/?url=http%3A%
2F%2Fwww.almamedia.fi%2Fen&data=05%7C02%7Cminna.oksanen%40almamedia.fi%7Ca093be75
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vm3HTxWpAQc6w5XqH2J4OVdAcrE%3D&reserved=0)
Alma Media in brief
Alma Media is an international company of digital media, marketplaces and
services with a strong capacity for renewal. We inspire human curiosity and
choice by creating services that combine technology and content with a local
heart. In Finland, our best-known brands include Kauppalehti, Talouselämä,
Iltalehti, Jobly, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services
include prace.cz and jobs.cz in Czechia, Profesia.sk in Slovakia and
mojposao.net in Croatia.
In Finland, our business operations include leading housing and automotive
marketplaces, financial and professional media, national consumer media and
content and data services for businesses and professionals. Alma Media's
international business in Eastern Central Europe, Sweden and the Baltic
countries consists of recruitment services and an online marketplace for
commercial properties.
Alma Media operates in 10 countries in Europe and employs approximately 1,700
professionals. Alma Media's revenue from continuing operations was EUR 327
million in 2025 of which the share of digital business was 86%. Alma Media's
share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.