Sanoma updates its profitability outlook

Sanoma Corporation, Inside information, 26 October 2021 at 15:15 EET

Sanoma updates its profitability outlook

Sanoma updates its profitability outlook for 2021 measured by operational EBIT margin excl. PPA (purchase price allocation adjustments and amortisations). Outlook on net sales remains unchanged.

New outlook:

In 2021, Sanoma expects that the Group’s reported net sales will be EUR 1.2‒1.3 billion (2020: 1.1). The Group’s operational EBIT margin excl. PPA is expected to be around 15.5% (2020: 14.7%).

The updated outlook is based on the actual January–September 2021 performance and updated estimate for October–December 2021 of Sanoma’s businesses, where the uncertainty caused by the coronavirus pandemic has decreased in events and B2B advertising compared to earlier in the year.

Previous outlook (published on 10 February):

In 2021, Sanoma expects that the Group’s reported net sales will be EUR 1.2‒1.3 billion (2020: 1.1). The Group’s operational EBIT margin excluding PPA is expected to be 14%–16% (2020: 14.7%).

Regarding the operating environment and its implications for the business and financials Sanoma expects that:

• Net sales of the events business will be approximately half of the 2019 level (2019: EUR 35 million) and profitability around break-even.

• The advertising demand will be weighted towards the second half of the year.

• The learning business will not be significantly impacted by prolonged school closures in its main operating countries.

Additional information
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601

Sanoma

Sanoma is an innovative and agile learning and media company impacting the lives of millions every day.

Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business across Europe.

Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.

Today, we operate in eleven European countries and employ close to 5,000 professionals. In 2020, our net sales amounted to approx. 1.1bn€ and our operational EBIT margin excl. PPA was 14.7%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.