Alma Media Oyj

Alma Media Corporation's Half-Year Report for January to June 2024 reveals a 2.4% increase in Q2 revenue to EUR 80.1 million, supported by acquisitions but dampened by a weakened Czech koruna. Advertising revenue fell by 7.6%. Adjusted operating profit remained stable at EUR 19.4 million, representing 24.2% of revenue. Digital business revenue hit a record high of 84.4%. In the Alma Career segment, revenue decreased by 2.5% to EUR 27.7 million, and adjusted operating profit fell by 9.0% to EUR 11.1 million. The Alma Marketplaces segment saw a 15.3% revenue increase to EUR 25.1 million, aided by the acquisition of Netwheels, with adjusted operating profit up by 9.7% to EUR 7.1 million. The Alma News Media segment experienced a 2.2% revenue decline to EUR 27.2 million, but adjusted operating profit remained stable at EUR 3.8 million. Despite challenging market conditions, Alma Media maintained a strong financial position with a net debt to EBITDA ratio of 1.9 and an equity ratio of 44.3%. The company expects its full-year 2024 revenue and adjusted operating profit to remain at 2023 levels, supported by acquisitions and cost control measures. The European Commission projects modest economic growth and declining inflation in Alma Media's main markets, which include Finland, the Czech Republic, Slovakia, and Croatia.