Seeking a new direction with an efficiency program
Sanoma’s normally stable and predictable earnings development has weakened especially as a result of cost inflation and contraction in advertising. With a substantial efficiency improvement program in the Learning business, we expect the segment’s profitability to increase clearly in the coming years, which, together with the gradually recovering Media business result, will boost earnings growth to a good level in the coming years. We believe the expected return consisting of this and the highish dividend yield in the coming years turns the risk/reward ratio attractive.
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 pageKey Estimate Figures2024-05-02
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 1,392.9 | 1,330.0 | 1,346.2 |
| growth-% | 7.3 % | -4.5 % | 1.2 % |
| EBIT (adj.) | 133.8 | 133.5 | 150.9 |
| EBIT-% (adj.) | 9.6 % | 10.0 % | 11.2 % |
| EPS (adj.) | 0.39 | 0.41 | 0.53 |
| Dividend | 0.37 | 0.37 | 0.39 |
| Dividend % | 5.3 % | 4.2 % | 4.4 % |
| P/E (adj.) | 17.7 | 21.7 | 16.7 |
| EV/EBITDA | 6.7 | 7.0 | 6.1 |
Forum discussions
