contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


alma-media-district-court-of-pirkanmaas-ruling-becomes-final-no-employment-discrimination-occurred-in-the-recruitment-of-aamulehtis-editor-in-chief

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Alma Media operates in the media sector. The company's main focus is on digital media, where the offering consists of news content that touches on lifestyle, career and finance. The group operates several brands, the better-known of which include Kauppalehti. The customers are found in the Nordic countries, the Baltics and Europe and consist of private users. The head office is located in Helsinki.

Alma Media Executive Management Team members bought shares | Kauppalehti Behind a paywall, but the headline speaks for itself. The Management Team believes in Alma and knows that good news is coming. The purchases totaled approximately 267,000 euros, which is quite a nice pot. In recent years, it has been typical for Alma to hover at the same levels for a long time and then make a proper move up to the next level.

It might be too big a bite for Otava alone, but why not with a partner? For example, Herlin.

It would be interesting to be a fly on the wall at Otava’s board meetings. What is their end game in this Alma Media play? “A strategic holding and Alma will remain an independent listed company” and whatever other jargon we’ve always heard from Otava. Somehow, Otava’s actions don’t make sense purely on economic grounds. Is there a consolidation of the media field underway, where rationality is being overtaken by ambition and a quest for scale? Is Otava ready to pay a control premium (as they are doing now) and leave Alma to “stagnate” on the stock exchange? Well, at least it will pay out an okay dividend in the future. Mariatorp Oy, Ilkka Oyj, and Keskisuomalainen Oyj (partly indirectly through Ilkka) influence this course of events with their own votes and plans. Will the pieces start moving now that Ilkka has managed to combine its share classes? Are the stubborn Ostrobothnians finally cashing out, with Alma ending up with Otava at a good price? Is it time to jump on the Alma (or Ilkka or Keskisuomalainen) bandwagon and reap the fruits of consolidation? IMO, Otava should delist Alma, or is it a bit too much for them to swallow after all?

That 700,000-share trade is likely the one mentioned in the news below, meaning Otava has received permission from the Finnish Competition and Consumer Authority (KKV) to execute it / exceed the 40% ownership threshold. To “celebrate” (?) the trade, the Chairman of the Board was also replaced. Lindholm is the CEO of the Otava Group. Whatever corporate restructurings might occur, Otava plays “the” role. Otava itself has increased its ownership over the years, and at the 30% threshold, it made a modest/mandatory tender offer, and without any premium, managed to gain just over a percentage point more ownership at a price of 9.1 euros in summer 2023. Alma Media Corporation’s Chairman of the Board changes - Alma Media Alma Media Oyj:n hallituksen puheenjohtaja vaihtuu - Alma Media Otava has received KKV’s (Finnish Competition and Consumer Authority) approval to increase its ownership in Alma Media - Otava Group Otava on saanut KKV:n hyväksynnän kasvattaa omistustaan Alma Mediassa - Otavakonserni Otava Oy increases its ownership in Alma Media Corporation - Otava Group Otava Oy kasvattaa omistustaan Alma Media Oyj:ssä - Otavakonserni

My own view is that in addition to the recommendation, the forecasts are unnecessarily cautious. I believe an EPS of 0.85 is closer, but even that still leaves room for market and operating environment risks. The valuation could be P/E 20, whereas Inderes had it at 19.5 before the report. Now it’s P/E 18.5 based on the €15 target price before the Q1 report. With a P/E of 20, we reach a TP (target price) of €17, which I think it should be without being overly cautious. The company benefits from AI, its own operations are very efficient, there’s a 4% dividend yield, room for acquisitions, good return on capital, and the firm possesses resilience even in a difficult market. By the way, there was also a block trade of approximately 700,000 shares of Alma today. An interesting addition with the ownership arrangements.

Good question, and yes, I did consider a Buy recommendation as well. The reason I held back on it is that it’s difficult to see drivers for it to play out in this operating environment. Secondly, I’m thinking that because of the still-closed strait in the Middle East, macro risks are currently skewed more to the downside than the upside. Therefore, I’d rather save that Buy recommendation in case Mr. Market gives an even better entry point. All in all, this was a borderline case, and I ended up holding off on a stronger view for now.

Petri’s latest report on Alma Media:                   Inderes              Alma Media Q1'26: Marginaaliparannus etenee mallikkaasti - Inderes    Alma Median Q1-tulos oli selkeä positiivinen yllätys, kun yhtiön kannattavuus vahvistui vertailukaudesta tuntuvasti.                             A more general question for @Petri_Gostowski, but why wasn’t a Buy recommendation given in this case, even though there’s 21% upside to the target price and an additional 4% dividend yield? Previously, over 15% total return expectation was enough for a Buy recommendation, and this definition has since been abandoned, but surely the return expectation is now already 25%, and Alma’s risks don’t seem exceptionally high either.  This is apparently the most recent recommendation policy.

Alma Media

Alma Media Corporation Press release 7 January 2020District Court of Pirkanmaa's ruling becomes final - no employment discrimination occurred in the recruitment of Aamulehti's Editor-in-ChiefThe...

Alma Media Corporation                              Press release 7 January 2020District Court of Pirkanmaa's ruling becomes final -  no employment discrimination occurred in the recruitment of Aamulehti's Editor-in-ChiefThe Prosecutor's Office of Inland Finland has today, January 7[th  ]2020, announced not to use the right to appeal concerning the District Court of Pirkanmaa's ruling. On 5th of December 2019, the District Court dismissed the charges of employment discrimination against Alma Media Corporation's President and CEO Kai Telanne and SVP, Human Resources Virpi Juvonen in the recruitment of Aamulehti's Editor-in-Chief in late 2017.The both rulings of District Court of Pirkanmaa has now become final.Further information: Elina Kukkonen, SVP, Communications and Brand, Alma Media, tel. +358 10 665 2333

Alma Media: District Court of Pirkanmaa's ruling becomes final - no employment discrimination occurred in the recruitment of Aamulehti's Editor-in-Chief