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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 %4.5 %4.7 %
P/E (adj.)16.411.611.1
EV/EBITDA6.56.15.8

Forum discussions

On the other hand, immigration and the educational needs of immigrants will increase, as well as the educational needs of young adults in general...
3 hours ago
2
[quote="BeeStreet, post:341, topic:215"]\nArtificial intelligence and children’s increasing use of technological devices is a big opportunity...
10 hours ago
by Jukka
0
I also find it a bit strange that Sanoma has stayed below the 10 euro mark for this long, even though they have been meeting their guidance ...
yesterday
by veikkan
5
For almost half a year now, a friend and I have been wondering about Sanoma’s valuation relative to its outlook and analysts’ forecasts… and...
yesterday
10
I believe that Sanoma and other players in the educational materials sector will do well in the coming years. Artificial intelligence and children...
9/5/2026, 5:32 AM
3
I don’t really believe in a sale of the media business. That would be somewhat akin to giving up on Erkko’s legacy. On the other hand, Sanoma...
9/5/2026, 4:51 AM
by Kaiku
8
Many investors think of Sanoma as a media house, even though 80% of its operating profit comes from Learning. Whenever I’ve mentioned Sanoma...
9/4/2026, 9:55 PM
by Arvoansa1
6