Finland · Delayed Price · Currency is EUR Sanoma Oyj Earnings Call Transcripts
Fiscal Year 2026
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Adjusted operating profit rose in both learning and media, with stable net sales and strong growth in the Netherlands, Poland, and Spain. The Vicens Vives acquisition strengthens the learning segment, while cost containment supports media profitability despite weak advertising.
Fiscal Year 2025
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Adjusted Operating Profit and Free Cash Flow improved in 2025, led by Learning, with higher margins and a proposed 8% dividend increase. 2026 guidance targets further profit growth, especially in Learning, while the advertising market is expected to remain challenging but stable.
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The group targets high single-digit earnings growth from 2026-2030, driven by learning segment expansion, curriculum renewals, and digital innovation, with Media Finland contributing through digital transformation and a major boost from gambling advertising in 2027. AI and M&A are key enablers, while financial discipline and sustainability remain central.
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Solid Q3 performance with improved operational EBIT and free cash flow, driven by growth in learning content and digital subscriptions. Strategic exits and cost-saving measures, including impairments, position the business for higher margins and continued deleveraging.
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Operational EBIT improved in H1 2025, led by learning growth and cost efficiencies, while net sales remained stable as learning offset weaker Media Finland advertising. Outlook for 2025 is unchanged due to Q3 seasonality and advertising uncertainty, with free cash flow and leverage showing positive trends.
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Q1 saw improved operational EBIT and free cash flow, led by Learning growth in the Netherlands and Poland, while Media Finland faced continued advertising softness. Guidance for 2025 remains unchanged, with cost savings from program Solar starting to materialize and deleveraging progressing.
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2024 saw improved cash flow, higher learning margins, and a strategic focus on digital and K-12 education. The board proposed a EUR 0.39 dividend, updated executive incentives, and reappointed PwC as auditor. AI and sustainability remain key priorities.
Fiscal Year 2024
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Operational EBIT and free cash flow improved in 2024, with margin gains in both learning and media. 2025 guidance anticipates stable or slightly lower sales but improved margins, continued deleveraging, and a higher dividend, while risks remain around advertising market recovery.
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Solid Q3 and nine-month results with improved operational EBIT and free cash flow, driven by digital growth and cost efficiencies. Outlook narrowed to the higher end of guidance, with continued deleveraging and a EUR 27 million impairment related to Dutch distribution contracts.
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Earnings improved in both Learning and Media, with strong operational EBIT growth and better free cash flow. Full-year guidance remains unchanged due to expected H2 headwinds in Learning and advertising, while leverage and equity ratios improved.