Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q2 2025 Earnings Presentation
41 slides from Alma Media Oyj's earnings presentation, July 2025
Slide 1: IR Presentation Post Q2 2025
IR Presentation Post Q2 2025
Slide 2: Alma in figures (FY 2024)
Alma in figures (FY 2024) Revenue Digital business Adj. operating Adj. Operating profit profit % 313 84% 77 25% 40/60 MEUR MEUR abroad / in Finland % of employees ROE ROI Equity ratio Dividend of Alma’s media reach about 23% 15% 49% 0.46 89% euros per share of Finns weekly TSR 500% 1 660 c. (2015–20
Slide 3: FY 2024 Highlights: Revenue grew by 2.5%, adjusted operating profit up by 4.4%
FY 2024 Revenue grew by 2.5%, adjusted operating profit Highlights up by 4.4% ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +2.5% 120 +4.4% 30 308.7 304.9 312.7 24.1% 24.6% 100 23.8% 25 76.9 80 73.4 73.6 20 60 15 40 10 20 5 2022 2023 2024 0 0 2022 2023 2024 • Solid performance despi
Slide 4: Q2 2025 Highlights: Revenue grew by 4.5%, adjusted operating profit up by 8.9%
Q2 2025 Revenue grew by 4.5%, adjusted operating Highlights profit up by 8.9% ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +4.5% +8.9% 30 30 83.7 24.8% 24.2% 25.2% 78.2 80.1 25 25 21.1 19.4 19.4 20 20 15 15 10 10 5 5 0 0 Q2 2023 Q2 2024 Q2 2025 Q2 2023 Q2 2024 Q2 2025 • Solid perfo
Slide 5: Strong market positions and leading brands in key areas
Strong market positions and leading brands in key areas RECRUITING #1 Czech Republic jobs.cz, prace.cz #1 Slovakia profesia.sk #1 Croatia mojposao.net #2 Finland jobly.fi 1 #1-3 Estonia, Latvia, Lithuania cvonline.com 1 #1 Bosnia and Herzegovina, mojposao.ba, 1 Macedonia, Serbia vrabotuvanje.com.mk,
Slide 6: Alma Media's transformational journey
Alma Media’s transformational journey Exploiting paradigm changes in technology and consumer behaviour Integrating Platforms 2020 > Media and Services • Expanding our role in value chains • Streamlining customer processes by 2000 - 2020 integrating services to platforms • Enabling integrations also
Slide 7: Continuing the renewal of portfolio
Continuing the renewal of portfolio – net investments over MEUR 200 to digital transformation and growth INVESTMENTS OF WITH A STRONG FOCUS ON DIGITAL BUSINESS AutoJerry Suomen Tukkuautot Alma Mediapartners (35%) Techloop Netello (40%) Toimitilat.fi Netwheels Edilex Katsastushinnat.fi Etua.fi (40%)
Slide 8: Digital transformation
Digital transformation 2025 Q2 LTM 85% 400 90% 350 80% 11 70% 300 36 23 60% 250 Others 50% 200 Print 40% 150 247 Digital 271 30% 100 Digital rate 20% 50 10% 17 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q2 LTM 8
Slide 9: Digital transformation and change in business mix driving operational gearing
Digital transformation and change in business mix driving operational gearing REVENUE ADJUSTED OPERATING PROFIT MEUR 2025 Q2 MEUR LTM 350 90% 2025 Q2 85.0% 90 LTM 30.0 % 300 11 80% 80 25.0% 22 25.0 % 70% 70 250 95 60% 60 20.0 % 200 50% 50 271 15.0 % 150 2014 40% 40 32.0% 30% 30 2014 10.0 % 100 7.2%
Slide 10: Acquisitions supported revenue growth, while challenging market conditions tempered expansion
Acquisitions supported revenue growth, while challenging market conditions and uncertainty tempered overall expansion REVENUE Q2 2025 (MEUR) ADJUSTED OPERATING PROFIT Q2 2025 (MEUR) 83.7 +0.1 +0.1 +0.8 -0.6 21.1 +4.1 +1.3 80.1 -0.7 19.4 +0.2 Q2 2024 Alma Alma Alma News Non- Q2 2025 Q2 2024 Alma Alma
Slide 11: Proportion of digital business reached record-high levels
On rolling 12 months basis, the proportion of digital business reached record-high levels REVENUE BY REVENUE CLASSES Q2 2025 (MEUR) SHARE OF DIGITAL BUSINESS OF GROUP REVENUE* (REVENUE CHANGE IN BRACKETS) 90 84% 85% 81% 82% 300 80 77% 271 Classified 32.2 0.8 (2.5%) 263 69% 250 251 70 63% 66% 250 61%
Slide 12: Alma Career: Adjusted operating profit turned to growth
Alma Career: Adjusted operating profit turned to growth as a result of efficiency improvement measures SEGMENT REVENUE BY REVENUE CLASSES REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 43.2% 50 42.2% 45 40.2% 40.4% 27.7 45 38.7% 40 -
Slide 13: Invoicing & revenue recognition in Alma Career, rolling 12 months
Invoicing & revenue recognition in Alma Career, rolling 12 months Rolling 12 months, EURk Revenue Invoicing 10 000 9 500 8,964 9 000 8,854 8 500 8 000 7 876 7 500 7 000 6 847 6 500 6 000 09/21 11/21 01/22 03/22 05/22 07/22 09/22 11/22 01/23 03/23 05/23 07/23 09/23 11/23 01/24 03/24 05/24 07/24 09/24
Slide 14: Alma Marketplaces: Revenue grew by 16.5% organically
Alma Marketplaces: Revenue grew by 16.5% organically as well as supported by acquisitions – profitability continued to strengthen SEGMENT REVENUE BY REVENUE CLASSES REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 50 35.3% 40 45 29.2 3
Slide 15: Alma News Media: Revenue on par, adjusted operating profit climbed by 20.1%
Alma News Media: Revenue on par, adjusted operating profit climbed by 20.1% SEGMENT REVENUE BY DIGITAL/PRINT REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 50 45 45 40 +0.2 -0.2 27.5 40 35 27.4 +0.2 Digital 17.5 1.3 (7.8%) 35 30 29.2
Slide 16: Solid financial position
SOLID FINANCIAL POSITION
Slide 17: Alma Media's long-term financial targets
Alma Media’s long-term financial targets* REVENUE GROWTH (%) ADJUSTED OPERATING PROFIT (%)* NET DEBT/EBITDA RATIO* >5.0% >30% <2.5x 19.6 >30% 2.3 24.6 25.0 <2.5x 23.8 24.1 12.1 22.2 1.7 1.6 1.6 1.5 >5% 3.8 2.5 -1.2 2021 2022 2023 2024 Q2 2025 2021 2022 2023 2024 Q2 2021 2022 2023 2024 Q2 2025 LTM 20
Slide 18: Balanced financial position
Balanced financial position 500 NET DEBT (MEUR), GEARING (%) & EQUITY RATIO (%) Q2/2022 – Q2/2025 450 150 400 94% 81% 82% 81% 100 350 69% 73% 70% 71% 59% 65% 60% 60% 300 48% 49% 54% 39% 42% 46% 43% 46% 46% 46% 44% 46% 50 250 51% 46% 200 0 150 100 -50 164 154 143 160 151 146 169 155 140 159 128 138 1
Slide 19: Solid cash flow
Solid cash flow OPERATING CASH FLOW Q2/2022 – Q2/2025 (MEUR) OPERATING CASH FLOW BRIDGE H1/2024 – H1/2025 24.2 3.0 22.3 21.2 37.8 20.6 2.5 19.6 1.3 18.8 20 3.4 17.0 17.3 17.6 35.1 -6.0 2.0 15.5 3.0 13.0 15 1.5 1.0 10.9 9.8 1.0 10 0.5 5 0.0 -0.5 0 H1 2024 Adjusted Taxes paid Net interest Changes Othe
Slide 20: Investments
Investments 4 3 2 CAPEX, LEASES, M&A Q2/2022 – Q2/2025 DEPRECIATIONS Q2/2022 – Q2/2025 1 Leases 16 16 0 CAPEX 14 14 1 -1.7 -1.6 -1.6 13 1 -1 -1.8 M&A 12 10 -2 -0.6 -0.9 -1.2 10 -1.6 -3 8 4 -1.8 -1.8 -1.4 7 11 1 14 13 -4 -1.6 6 5 5 5 3 1 4 4 -5 4 2 3 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 3 7 1 3 3 1
Slide 21: Earnings per share
Earnings per share ROE & ROI (%) Q2/2022 – Q2/2025* EARNINGS PER SHARE Q2/2022 – Q2/2025 80 0.28 70.5 70 0.23 60 0.20 0.20 0.19 50 0.18 0.18 0.18 40.5 0.15 40 0.14 0.14 0.13 0.13 28.6 29.4 28.9 30 22.0 20 17.3 17.2 10 0 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2
Slide 22: Total Shareholder Return 2015-2024
Total Shareholder Return 2015-2024 2015–2024 TSR, % (dividends included) Alma Media’s TSR +498.2% Alma Media Oy 498% Helsinki Stock Exchange Index +85.3% (including dividends) OMXHGI 85% 2014-12-30 2015-12-30 2016-12-30 2017-12-30 2018-12-30 2019-12-30 2020-12-30 2021-12-30 2022-12-30 2023-12-30 202
Slide 23: Operating environment
OPERATING ENVIRONMENT
Slide 24: Challenging operating environment
Challenging operating environment Lagging Changing Increasing Geopolitical economic growth consumer behaviour regulation turbulence Growth picking up, but major Digitalisation continues to Digital legislation increasing. Geopolitical tensions changes in geopolitics and change consumer behaviour. Gro
Slide 25: Latest European Commission financial forecast for Alma's operating countries
Latest European Commission financial forecast for Alma's operating countries GDP Change (%) Inflation (%) Unemployment (%) 2025 2026 2025 2026 2025 2026 1.0 1.3 1.7 1.5 8.6 8.3 Finland 1.9 2.1 2.2 2.0 2.6 2.6 Czechia 1.5 1.4 4.0 2.9 5.3 5.3 Slovakia 3.2 2.9 3.4 2.0 4.6 4.5 Croatia 1.1 1.9 2.2 1.6 8.
Slide 26: The Finnish advertising market update
The Finnish advertising market update MONTHLY CHANGE IN MEDIA ADVERTISING 06/2024–06/2025 25% 15% 5% -5% -15% -25% P6 24 P7 24 P8 24 P9 24 P10 24 P11 24 P12 24 P1 25 P2 25 P3 25 P4 25 P5 25 P6 25 Advertising sales total, chg % Newspaper advertising, chg % Online advertising, chg % Source: Kantar TNS
Slide 27: Housing market & marketplaces update
Housing market & marketplaces update HOUSING MARKET UPDATE (SOLD APARTMENTS) -13.5% +32.8% 5 177 5 326 5 097 4 839 4 843 4 434 4 523 4 410 4 559 4 389 3 837 4 035 3 559 4 993 5 152 4 931 4 267 4 319 4 199 4 341 4 697 4 690 3 835 4 256 3 413 3 686 P06 23 P07 23 P08 23 P09 23 P10 23 P11 23 P12 23 P01
Slide 28: Mobility market & marketplaces update
Mobility market & marketplaces update MOBILITY MARKET UPDATE* (SOLD CARS) -4.6% +7.9% 65 027 63 915 66 131 61 566 59 566 57 883 55 201 58 071 55 079 49 615 50 489 47 510 43 078 48 914 57 360 55 256 57 526 60 303 52 276 49 068 48 628 51 938 44 339 41 270 45 789 37 327 P6 23 P7 23 P8 23 P9 23 P10 23 P
Slide 29: Ukrainian crisis
Ukrainian crisis • Russia’s aggressive invasion to Ukraine, brought severe economic and business consequences: • Significantly higher energy prices and inflation • Lower economic growth in Europe • Increased volatility and insecurity • Disruptions in financial markets and supply chains due to sancti
Slide 30: Sustainability as an integral part of our strategy
Sustainability as an integral part of our strategy Alma Media has gained international recognisition by its ambitious work for climate and responsible business. ENVIRONMENTAL Alma Media has significantly cut down its carbon • Minimising CO2 emissions in own footprint in the last few years operations
Slide 31: Strategy and outlook
STRATEGY AND OUTLOOK
Slide 32: Business segments
Business segments Q2 2025 ALMA CAREER ALMA MARKETPLACES ALMA NEWS MEDIA Vesa-Pekka Kirsi Santtu Elsinen Juha-Petri Loimovuori Leading Job boards in 10 CEE Leading marketplaces in real Leading digital news media in countries. Recruitment estate, mobility and business the Finnish market. Pioneer in ad
Slide 33: Versatile revenue sources, business cyclicity varies
Versatile revenue sources, business cyclicity varies Revenue source Share of revenue Highest cyclicity 19% Advertising 39% Classifieds 7% Other Digital services 20% Content sales 15% Lowest cyclicity Q2 2025 Q2 2024 34
Slide 34: Alma Media's transformational journey
Alma Media’s transformational journey Exploiting paradigm changes in technology and consumer behaviour Integrating Platforms 2020 > Media and Services • Expanding our role in value chains • Streamlining customer processes by 2000 - 2020 integrating services to platforms • Enabling integrations also
Slide 35: Strategy: Synergies
STRATEGY SYNERGIES 1 TRANSFORM • Streamline customer processes by integrating Advanced services to platforms • Systematically improve all products and MARKETPLACES processes with AI Intelligent • Increase operational agility to speed up time- Shared INSIGHTS to-market AUDIENCES DATA 2 GROW TECHNOLOG
Slide 36: From classified advertising to transactions
From classified advertising to transactions Entering larger potential market and enabling new revenue sources B U Y E R S SEARCH EVALUATE NEGOTIATE OWNERSHIP & & & & PROVIDE MARKET CLOSE CRM SELLERS, B2B PARTNERS ADVERTISING TRANSACTIONS 1 We further develop and complement our product portfolio to c
Slide 37: AI boosts Alma's strategy
AI boosts Alma's strategy 1. INCREASING INTERNAL PRODUCTIVITY • Use of AI tools for individual productivity, e.g., in software or content creation. • Automating internal processes, e.g., reporting, Stage 3: forecasting, or planning New business models OPPORTUNITY 2. IMPROVING CUSTOMER EXPERIENCE Sta
Slide 38: Outlook For 2025
Background for the outlook Outlook For 2025 The outlook is based on an assessment of Announced on 5 February 2025 the company's main market areas, where national economies are expected to pick up, but the uncertainty continues. The global economy fluctuations may affect the Alma Media expects its fu
Slide 39: Thank You!
Thank You! Upcoming events in the investor calendar: • Interim report for January–September 2025 on Friday, 31 October 2025 40
Slide 40: Closing remarks
Closing remarks • Digital transformation has led to a well-balanced and synergistic business mix and to market leadership in chosen areas • The digital journey continues towards integrating platforms • Leveraging the best of current Alma Career products by expanding into new markets: building one un
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