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Sanoma made a small complementary acquisition in Poland

SANOMAAnalyst Comment2026-07-03 07:37
Petri GostowskiCo. Head of Research
Discuss

Summary

  • Sanoma acquired Fluentbe, a Polish digital language learning platform, aligning with its strategy to expand offerings in current markets.
  • Fluentbe, which generated approximately 6 MEUR in revenue in 2025, represents a small-scale acquisition for Sanoma.
  • The acquisition enhances Sanoma's expertise in AI, crucial as digital and AI-based products increasingly influence the learning sector.
  • Fluentbe's employees, founders, and management will join Sanoma Learning, integrating their AI-powered, personalized language learning services.

This content is generated by AI. You can give feedback on it in the Inderes forum.

Translation: Original published in Finnish on 07/03/2026 at 06:50 am EEST

The company acquired Fluentbe, a Polish digital language learning tutoring platform. The acquisition is in line with Sanoma's strategy, as it expands the company's offering in its current operating countries. The size of the acquisition is very small in Sanoma's scale, so we will include it in our estimates in connection with the next company report.

AI-powered language learning tutoring platform

Sanoma announced on Thursday that it has acquired Fluentbe, a Polish digital language learning tutoring platform. By combining its own teaching methods, learning materials, and technology with tutors, Fluentbe offers AI-powered, personalized language learning to both private and corporate clients. Fluentbe's employees, founders, and management will transfer to Sanoma Learning as part of the acquisition.  

The bolt-on acquisition is in line with the company's strategy

Fluentbe’s revenue in 2025 was approximately 6 MEUR, or only about 0.5% of Sanoma’s revenue last year. Thus, the acquisition is very small in Sanoma's scale. Sanoma's growth strategy includes both bolt-on acquisitions in its current markets and expansion into new markets. Against this backdrop, we consider the acquisition now announced to be in line with the company's strategy, and in addition to the offering, we estimate that it will increase the company's expertise in AI. This is important because the role of digital and AI-based products in teaching is growing in the learning business.

Sanoma is an innovative and agile learning and media company with two business segments: Learning and Media Finland. Learning's educational products and services reach 25 million students in K-12 education in 12 European countries. Media Finland has Finland's leading multichannel media offering (digital and print newspapers, magazines, TV and streaming services, and radio and audio services), through which it reaches 97% of Finns every week, enabling effective marketing solutions for corporate clients. The company's operations have a positive impact on the lives of millions of people every day.

Read more on company page

Key Estimate Figures07/05

202526e27e
Revenue1,302.51,321.41,364.3
growth-%-3.1 %1.5 %3.2 %
EBIT (adj.)154.9188.4201.4
EBIT-% (adj.)11.9 %14.3 %14.8 %
EPS (adj.)0.570.830.87
Dividend0.420.440.46
Dividend %4.5 %4.8 %5.0 %
P/E (adj.)16.411.110.6
EV/EBITDA6.55.95.6

Forum discussions

OP has added Sanoma to its stock ideas list as of August 3rd, and SalkunRakentaja has written an article about this (no paywall in either link...
8/10/2026, 10:58 AM
12
Petri has released a new company report on Sanoma I wonder if the stock is quite cheap, especially considering what the future looks like… Sanoma...
7/29/2026, 7:50 PM
by Sijoittaja-alokas
11
Petri interviewed Sanoma’s CEO Rob Kolkman Topics: 00:00 Introduction 00:12 Key highlights of the second quarter 01:07 Development of the media...
7/29/2026, 11:58 AM
by Sijoittaja-alokas
6
As an addition to the morning comment, please note this part of the CEO’s review in the image below. According to the company, 15 MEUR in revenue...
7/29/2026, 7:16 AM
by Petri Gostowski
14
Sanoma’s H1 2026 was strong and in line with the plan, but one line item is grabbing headlines for the wrong reasons. Adjusted operating profit...
7/29/2026, 6:30 AM
by Tonyfran
15
Here are Petri’s quick comments on this morning’s earnings. Sanoma’s Q2 result, published this morning, was roughly in line with the comparison...
7/29/2026, 6:15 AM
by Sijoittaja-alokas
4
Petri is a bit early, since Sanoma reports its Q2 results on Wednesday. We forecast that the company’s revenue has remained stable, but we expect...
7/27/2026, 6:48 AM
by Sijoittaja-alokas
4