Sanoma Corporation, Press release, 14 February 2019 at 11:00 EET
Sanoma sells Mood for Magazines, publisher of LINDA. magazine, in the Netherlands
Sanoma has entered into an agreement to divest Mood for Magazines, publisher of personality magazine LINDA. and its extensions. The buyer is Linda de Mol, founder and minority shareholder of Mood for Magazines, together with Talpa. Sanoma continues to further develop and expand its other Dutch media brands.
In 2018, net sales of Mood for Magazines were EUR 27 million, operational EBIT EUR 6 million and free cash flow EUR 4 million. Value of Mood for Magazines, of which Sanoma owns 86%, is EUR 47 million, representing an EV/EBIT multiple of 7.9x. Mood for Magazines has 53 employees.
The transaction is subject to closing conditions, including an approval by Sanoma Media Netherlands’ works council, and is expected to be closed in Q1 2019.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.3 billion and we employed more than 4,400 professionals in 2018. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.