Finnish publisher Alma Media revises earnings guidance
In 2015, economic growth is still expected to remain weak in Europe and, in particular, in Finland
HELSINKI, Finland – June 17, 2015 — Alma Media is revising its guidance and outlook for the first half of the year. Contrary to the previously issued guidance, operating profit excluding non-recurring items is expected to remain at, or increase from, the level reported for the first half of 2014. The company maintains its previously stated expectation that revenue will decrease compared to the first half of 2014.
The improvement in operating profit is attributable to the continued strong sales of Alma Media’s international recruitment business as well as cost adaptation measures implemented in the Group’s Finnish operations. Alma Media estimates that the market conditions will remain challenging in Finland. The factors behind the expected decline in the Group’s total revenue include divestments carried out in spring 2015 and the contraction of the print media business in Finland.
Outlook for 2015 / 17 June 2015
Low interest rates, a weaker euro and lower oil price improve the chances for growth in the long run. However, in 2015, economic growth is still expected to remain weak in Europe and, in particular, in Finland. The weak overall economic growth has an impact on advertising volume, which Alma Media expects to remain unchanged or increase only slightly in Finland in 2015.
In the first half of 2015, Alma Media expects its revenue to decrease from the 2014 level. The company expects its operating profit excluding non-recurring items to remain at the previous year’s level or to increase. The revenue for the first half of 2014 was MEUR 148.4, and operating profit excluding non-recurring items MEUR 8.8.