Q3 2024 Alma Media Oyj Earnings Call Transcript
Key Points
- Alma Media Oyj (FRA:A4M) achieved an all-time high quarterly profitability with an adjusted operating profit increase of almost 7% to 29.1%.
- The company reported a slight revenue growth of 2.4%, primarily driven by the acquisition of Netwheels and organic growth in certain segments.
- Digital transformation continues successfully, with digital revenues accounting for 86% of total revenues in the third quarter.
- The Marketplaces segment showed strong performance with a 5.5% organic growth, particularly in the commercial premises business in Sweden and Finland.
- Alma Media Oyj's balance sheet is healthy, with a strong equity ratio and decreasing leverage, providing room for future investments.
- The print business continues to decline, with a reported decrease of around 10%, impacting overall revenue streams.
- The Finnish labor market remains challenging, affecting the Career segment's performance, particularly in Finland and the Baltic regions.
- The housing market in Finland is at a low level, and the new car sales market is also struggling, impacting related business segments.
- The advertising market remains weak, contributing to a decline in revenues for the News Media segment.
- Despite positive signs, there is still uncertainty in the overall business environment, making future growth projections cautious.
Good morning, ladies and gentlemen, and welcome to this interim report session of Alma Media's third quarter 2024. My name is Elina Kukkonen, and I'm responsible for the Communications and Brand here in Alma.
We begin with our presentation shortly and as usual, the first to go on stage will be our CEO, Mr. Kai Telanne. He will present the overall result of Alma Media and highlight the performance of each business segment, Alma Career, Alma marketplaces and Alma News Media.
And after Mr. Telanne, our CFO Mrs. Taru Lehtinen, she will present the financial position of Alma Media today. And after Taru, Mr. Telanne continues with strategy and outlook. So how are we going forward.
And as usual and always we welcome all questions. You can use the chat function if you're following us on online. And we take also the questions from the Alma Business premises first. Our Director of Investor Relations, Mr. Teemu Salmi will speak up all the questions to answer.
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