Alma Media Corporation    Press release 16 February 2024

ALMA MEDIA CHANGES ITS SEGMENT STRUCTURE

Alma Media will renew its organisation and segment structure as of 1 March 2020. In the future, Alma Media's business segments will be Alma Career, Alma Marketplaces and Alma News Media.  

The purpose of the segment structure revision is to accelerate the implementation of the Group strategy and increase transparency in business operations. The new segment structure enables closer collaboration within the segments and the efficient use of technology in service development.

As a result of the revision, the Alma News Media business segment includes Finland's largest digital news media Iltalehti, the leading financial news media Kauppalehti and other journalistic titles of Alma Media. Alma News Media segment is led by Juha-Petri Loimovuori.

The Alma Marketplaces segment includes marketplaces and ERP systems for housing, business premises and mobility, comparison services, and services for businesses and professionals. The segment's best-known services include Etuovi, Nettiauto, Objektvision and Suomenlaki.com. The Alma Marketplaces business segment is led by Santtu Elsinen.

The changes will not affect the Alma Career business segment, which continues to focus on recruitment business and recruitment-related services in Eastern Central Europe and Finland. Alma Career's recruitment services include Jobs.cz, Prace.cz, CV-Online, Profesia.sk, MojPosao.net, MojPosao.ba and Jobly. The Alma Career business segment is led by Vesa-Pekka Kirsi.

Alma Media will report the first interim report for 2024 in accordance with the new segment structure, and will publish quarterly and full-year comparison data for 2023 in April.

Pro forma key figures for the revised segment structure from 2023

Alma Career Alma News Media Alma Marketplaces
Revenue, MEUR 110.5 109.1 85.4
Share of digital % 99 57 94
Adj. Ebit, MEUR 45.3 14.0 26.1
Adj. Ebit % 41 13 31

Alma Media will also change its corporate structure by merging Alma Talent Oy and Alma Media Suomi Oy into one company. It is estimated that the merger of the legal companies will take place during August 2024.

Strategy for 2024-2026

Alma Media's strategy is based on digital transformation of the core business, growth of digital business and internationalization.

The transformation of business from media to marketplaces and digital services continues. The goal is to strengthen current business in the areas of recruitment, housing, motoring and media. Synergies between businesses are sought in cooperation and jointly produced services in areas such as audiences, data and technology, and advertising sales.

The marketplace and service business are moving towards more advanced digital platforms: revenue streams are diversifying and the offering is expanding with new digital buying and selling processes. In addition to organic development, growth is accelerated by acquisitions. In the media business, the transformation from print media to digital media continues. In the recruitment business, the internationalization path is progressing and we are also looking for new opportunities in the current markets.

More information:

Taru Lehtinen, CFO, Alma Media, tel. +358 10 665 3609
Elina Kukkonen, SVP, Communications & Brand, Alma Media tel. +358 10 665 2333