contentSlug

type

ContentPage_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentPage_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
  createdAt
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
    forum {
      threadUrl
    }
    defaultInstrument {
      symbol
      id
    }
  }
  ...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 {
        threadUrl
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        symbol
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... 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
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
}

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
    }
  }
}


modular-finance-ir-consensus-sanoma-consensus-estimates-q3-2026

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

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.

A few could be these:   You guide Learning “clearly above 23%” and a significant group-level EBIT improvement, but H1 margins were roughly flat and you are carrying M&A integration and tech transformation costs. What specifically bridges that gap — and how much of it is the Spanish curriculum cycle mechanically turning next year?   A fundamental question that I think should always be asked is also the corporate structure. Management never answers this properly and defends the current structure, which is completely wrong. From a value creation standpoint, it is self-evident that Sanoma should be split. Learning is a high-margin, pan-European growth asset; Media Finland is a structurally declining domestic business. Why should they be in the same company? A pure-play European K-12 Learning business would almost certainly command a significantly higher valuation multiple than the combined group today — what is the strategic logic for keeping them together, other than Media’s cash flow?   If I strip out 2026 M&A and curriculum reform cycles in Sweden, Poland, Spain, and Italy, what is Learning’s true underlying organic growth — in volume, not price? The reported growth appears to be driven by reforms, above-inflation price increases, and M&A, and I would like to know what the business does in a year with no reform tailwinds.   You have pushed above-average price increases for several consecutive years. At what point does price turn into churn — are schools already pushing back, delaying adoption, or holding onto older editions for longer?

If management can speculate on this, what kind of “surprise potential” is there either way regarding the opening up of the betting market, such that estimates for ad sales growth might end up being clearly too low (or vice versa)? Or is the outlook already clear enough that surprises on that front are unlikely?

Perhaps a poor question to ask the operational management, but I am a bit concerned about the future of the industry. Age cohorts are shrinking in Europe, and sovereign debt levels are rising. Where will growth come from in the future for the industry/company when it comes to learning materials?

Personally, I’d be interested to know how Sanoma sees the future of digital vs. paper-based learning materials.  Especially from the perspective that people are gradually starting to realize that going fully digital in schools might not actually be the best solution. Some schools have already gone back to traditional books, paper, and pens so that students face fewer distractions and there is peace in learning again.

I’m putting together questions for the Q3 management interview. If there’s anything on your mind, there’s still time to get it added to the list.

There has been quite a lot of talk in the industry about the impact of AI, so I’ll share this recent launch from Sanoma here. This is also an indication of how Sanoma can leverage its broad market coverage to capture economies of scale in digital products.                   sanoma.com              Sanoma Learning lanseeraa Sannan – opettajille suunniteltu tekoälytyökalu...    Sanoma Learning, lehdistötiedote, 1.10.2026 klo 12.00    Sanoma Learning lanseeraa Sannan – opettajille suunniteltu tekoälytyökalu keventää työkuormaa

Good article from the perspective of a Sanoma owner. Worth reading through!                   Yle Uutiset – 23 Sep 26              75 rahapeliyhtiötä pyrkii Suomeen – tutkija: ”Onhan tämä miljardipotti, mikä...    Suomalaisten runsas pelaaminen ja vakaa toimintaympäristö tekevät maasta houkuttelevan rahapeliyhtiöille, arvioi yliopistotutkija Janne Nikkinen.

Sanoma

Estimates compiled by Modular Finance on behalf of Sanoma.Number of contributors: 7 (all of which have been updated or confirmed before the report)KPI (MEUR, unless otherwise specified)Q3 2026ENet...

<div class="mfn-body"><p>Estimates compiled by Modular Finance on behalf of Sanoma.</p><p>Number of contributors: 7 (all of which have been updated or confirmed before the report)</p><table><tbody><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>KPI (MEUR, unless otherwise specified)</strong></td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>Q3 2026E</strong></td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net sales</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">541.3</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Operating profit</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">188.5</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Items affecting comparability (IACs) and PPA adjustments and amortisations total</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">-12.8</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted operating profit</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">200.9</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted operating profit margin (%)</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">37.12</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Profit before tax</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">181.5</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net profit</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">142.5</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Earnings per share (EUR)</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">0.88</td></tr><tr><td colspan="1" rowspan="1" valign="bottom" width="690.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted EPS (EUR)</td><td align="right" colspan="1" rowspan="1" valign="bottom" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">0.91</td></tr></tbody></table><p>More consensus estimates can be found on Sanoma’s webpage:&nbsp;<u><a href="https://www.sanoma.com/en/investors/share-information/consensus-estimates/" rel="noopener">https://www.sanoma.com/en/investors/share-information/consensus-estimates/</a></u></p><p>Sanoma’s Q3 report will be released on Wednesday 28 October.</p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Attachments</strong><br><a class="mfn-generated mfn-primary" href="https://storage.mfn.se/4a751a32-2e9d-47dd-9750-92bc303af83f/sanoma-consensus-estimates-q3-2026.pdf" rel="noopener">Sanoma – Consensus estimates Q3 2026</a></p></div>

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Modular Finance IR Consensus: Sanoma – Consensus estimates Q3 2026

Modular Finance IR Consensus: Sanoma – Consensus estimates Q3 2026

KPI (MEUR, unless otherwise specified)	Q3 2026E
Net sales	541.3
Operating profit	188.5
Items affecting comparability (IACs) and PPA adjustments and amortisations total	-12.8
Adjusted operating profit	200.9
Adjusted operating profit margin (%)	37.12
Profit before tax	181.5
Net profit	142.5
Earnings per share (EUR)	0.88
Adjusted EPS (EUR)	0.91