Sanoma Corporation, Stock Exchange Release, 16 July 2015 at 9:00 CET+1
Sanoma will not meet its outlook for 2015 mainly due to the weak performance of its Finnish media operations in a depressed market environment. As a result, Sanoma is also withdrawing its mid-term (2016) outlook published in February 2014.
Group outlook for 2015 (revised)
In 2015, Sanoma expects that the Group’s consolidated net sales growth adjusted for structural changes will be around the previous year’s development (2014: -3.7%). The operating profit margin excluding non-recurring items is estimated to be above 4% of net sales (2014: 6.2% of net sales).
Previous 2015 outlook: “In 2015, Sanoma expects that the Group’s consolidated net sales growth adjusted for structural changes will be around the previous year’s development (2014: -3.7%). The operating profit margin excluding non-recurring items is estimated to be at or above the previous year’s level (2014: 6.2% of net sales).”
Mid-term outlook (revised)
The Finnish economy and advertising market have been depressed with no improvement expected in the immediate future. In addition, Sanoma Media Finland’s operating performance has been below expectations. Sanoma will not meet its outlook for 2015. As a result, Sanoma withdraws its mid-term (2016) outlook published in February 2014. Sanoma will provide a new outlook for 2016 in conjunction with the 2015 full-year results in February 2016.
Previous mid-term outlook: “Based on the execution of the strategic redesign, Sanoma expects that from 2016 onwards, the Group’s consolidated net sales will return to organic growth. The operating profit margin excluding non-recurring items is targeted to be around 10% of net sales. Sanoma is targeting for a net debt to EBITDA ratio below 3.5.”
Interim Report January–June 2015
Sanoma will publish its Interim Report for January–June 2015 on 23 July 2015 at approximately 8:30 CET+1.
Additional information
Sanoma's Investor Relations, Olli Turunen, tel. +358 40 552 8907
Sanoma.com
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Sanoma is a front running consumer media and learning company in Europe. In Finland and The Netherlands we are the market leading media company with a broad presence across multiple platforms. Our main markets in learning are Belgium, Finland, the Netherlands, Poland and Sweden. In 2014, Sanoma’s net sales totalled EUR 1.9 billion. Sanoma is listed on the Nasdaq Helsinki stock exchange.