Sanoma Corporation, Stock Exchange Release, 23 July 2013 at 13:00 CET+1
Advertising markets in Sanoma’s main operating countries are estimated to be more depressed than previously expected. Therefore Sanoma is forced to revise its outlook for 2013.
Group outlook for 2013 (revised)
In 2013, Sanoma expects that the Group’s consolidated net sales will decline more than 4% (previously ‘2-4%’) compared to 2012 and operating profit excluding non-recurring items is estimated to be below EUR 180 million (previously ‘EUR 180 – 205 million’).
Sanoma’s outlook is based on the assumptions that the European economic environment remains under pressure and adversely impacts advertising markets in Sanoma’s main operating countries. The likelihood of clearly improving market conditions in the second half of the year is estimated to be low.
Harri-Pekka Kaukonen, President and CEO:
“To counteract the underlying shift in consumer behaviour and advertising spend, we will continue to invest in transforming our core operations. In addition, we have commenced a redesign of our consumer media operations, including our product and service portfolios as well as cost structures. This redesign will change the financial profile of the Group and may affect asset valuations.”
Sanoma will publish its Interim Report January–June 2013 on 1 August 2013 at approximately 8:30 CET+1.
Sanoma’s Investor Relations, Martti Yrjö-Koskinen, tel. +358 40 684 4643 or email@example.com
Get the world. Sanoma helps people access and understand the world. Sanoma is a front runner in consumer media and learning in Europe. We employ around 10,000 professionals in more than 10 countries. In 2012, the Group’s net sales totalled EUR 2.4 billion. Sanoma’s share is listed on the NASDAQ OMX Helsinki.