SanomaWSOY Group continued to successfully implement its strategic objectives - profitability, internationalisation, growth and development. - Our result has developed very well. We have clearly exceeded last year's result, even though there were less non-recurring gains on the sales of assets than in the previous year, Hannu Syrjänen, President & COO of SanomaWSOY comments on the company's January-September result.
SanomaWSOY's operating profit grew by 13.3% in the January-September period. The operating profit improved in all divisions. Result before extraordinary items rose by 30.8%.
Consistent execution of strategy
- Throughout this year we have executed our strategy in a consistent and efficient way, Syrjänen emphasises.
The acquisition of Malmberg Investments, an educational publisher operating in the Netherlands and Belgium, was strategically important. Educational publishing will become the second business in SanomaWSOY's international expansion, in addition to the magazine operations.
- In our magazine operations we have focused strongly on product development and securing our future growth. We have also continued the expansion of press distribution, our third international business, Syrjänen states.
Electronic media is also proceeding well. The TV channel Nelonen has already almost achieved its target of a 30% share in TV advertising and the growth seems to be continuing.
- Throughout 2004 we have also significantly strengthened our position in the free sheet market, even though traditional newspapers continue to be the backbone of our newspaper operations, Syrjänen says.
Markets continue to grow
- The advertising market looks good at the moment. The situation has improved, especially since the summer, and I believe that this positive trend will continue. For example, job advertising in Helsingin Sanomat increased by 27% in September, compared to the same month last year, Syrjänen says.
- We have been able to increase our market share in most of our markets. On the other hand, the competition has intensified especially in Central Eastern Europe. Developing our competitiveness continues to be one of our main challenges, Syrjänen adds.
- We are consistently executing our strategy to be the leading media company in Finland and in the Nordic region and a leading European magazine and educational publisher, Syrjänen summarises.
Investor Relations and Group Communications