Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q2 2026 Earnings Presentation
46 slides from Alma Media Oyj's earnings presentation, September 2026
Slide 1: IR Presentation Autumn 2026
IR Presentation Autumn 2026
Slide 2: Alma in Figures (FY 2025)
Alma in Figures (FY 2025) Revenue Digital business Adj. operating profit 1 650 40/60 327 86% 82 Professionals in 10 countries abroad / in Finland MEUR MEUR % of employees Alma’s media reach ROE ROI Adj. operating profit % about 100+ 23% 15% 25% 89% Digital services and applications of Finns weekly A
Slide 3: Q2 2026 Highlights: Strong profitability with all segments improving
Q2 2026 Strong profitability with all segments improving Highlights results ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +15.6% +5.0% 35 27.7% 30 25.2% 80.1 83.7 87.9 30 24.2% 25 24.4 25 20 21.1 19.4 20 15 15 10 10 5 5 0 0 Q2 2024 Q2 2025 Q2 2026 Q2 2024 Q2 2025 Q2 2026 • Alma Medi
Slide 4: Alma Career: Building one recruitment platform across CEE
Alma Career: Building one recruitment platform across CEE Leading job boards, complemented by recruitment advertising, employer branding, career development and digital HR services. Scale and a diversified offering create opportunities to serve customers across the full talent lifecycle. Revenue Q2
Slide 5: Alma Marketplaces: Moving deeper into the transaction value chain
Alma Marketplaces: Moving deeper into the transaction value chain Market-leading services, customer relationships, proprietary data and transaction flows create a self-reinforcing growth ecosystem. Revenue Adj. EBIT Margin High-value digital services Market position Q2 2026 Q2 2026 (e.g. Insights an
Slide 6: Alma News Media: Scaling trusted content and direct audience relationships
Alma News Media: Scaling trusted content and direct audience relationships Trusted content and direct audience relationships generate proprietary data that strengthens subscriptions, advertising and personalisation. Revenue Digital Adj. EBIT Margin Alma Account Q2 2026 subscriptions Q2 2026 users SE
Slide 7: 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.hr #2 Finland jobly.fi 1 #1-3 Estonia, Latvia, cvonline.com Lithuania 1 #1 Bosnia and Herzegovina, mojposao.ba, 1 Macedonia, Serbia vrabotuvanje.com.mk,
Slide 8: 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 12.1 >30% 26.4 24.6 25.1 <2.5x 23.8 24.1 >5% 1.6 1.6 1.5 5.0 4.6 1.3 1.2 2.5 -1.2 2022 2023 2024 2025 Q2 2026 2022 2023 2024 2025 Q2 2026 2022 2023 2024 2025 Q2 2026 LT
Slide 9: 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 10: Strategy and Outlook
STRATEGY AND OUTLOOK
Slide 11: Strategy Synergies
Strategy Synergies 1 TRANSFORM • Streamline customer processes by integrating services to platforms Advanced • Increase operational agility and accelerate time-to-market MARKETPLACES • Advance customer-centric, product-led Intelligent development with AI Shared INSIGHTS AUDIENCES 2 GROW DATA TECHNOL
Slide 12: Strategic execution highlights
Strategic execution highlights Shared data, technology and audiences drive scalable growth 1 2 3 TRANSFORM GROW SCALE Highlights Q2 2026: TRANSFORM GROW • SCALE • Cloud, CRM and Career platform • Alma Account exceeded 3 million registered • Shared platforms and cloud capabilities transformation prog
Slide 13: Turning proprietary data and AI into customer value and growth
Turning proprietary data and AI into customer value and growth Alma’s AI advantage is built on proprietary first-party and transaction data, direct customer relationships and embedded workflows • Proprietary data becomes more valuable with AI Stage 3: Alma's market, audience and transaction data New
Slide 14: Extending customer value from discovery to transactions
Extending customer value from discovery to transactions Expanding the addressable market and creating new revenue streams B U Y E R S SEARCH EVALUATE NEGOTIATE OWNERSHIP & & & & PROVIDE MARKET CLOSE CRM SELLERS, B2B PARTNERS ADVERTISING TRANSACTIONS We are strengthening and We support our partners i
Slide 15: Alma's value creation engine
Alma’s value creation engine A self-reinforcing combination of market-leading platforms, trusted relationships, proprietary data and AI 1 2 3 4 5 TURN DATA AND AI COMPOUND VALUE GROW CORE INTO CUSTOMER THROUGH SCALE CAREER BUILD HIGHER- VALUE MARKETPLACES DISCIPLINED Deepen monetisation ACROSS CEE V
Slide 16: Solid Financial Position
SOLID FINANCIAL POSITION
Slide 17: Balanced financial position
Balanced financial position 400 120 NET DEBT (MEUR), GEARING (%) & EQUITY RATIO (%) Q2/2023 – Q2/2026 350 100 82% 81% 80 300 71% INTEREST-BEARING NET DEBT, MEUR 4-6/2026 4-6/2025 52% 60 250 52% Interest-bearing long-term liabilities 132.8 162.9 43% 44% 46% 40 200 IFRS16 lease liabilities 22.8 27.9 1
Slide 18: Strong financial position underpins growth ambitions
Strong financial position underpins growth ambitions Total assets, 30.6.2026 Net debt, 2026 4-6 Equity ratio, 30.6.2026 514.9 MEUR 125.1 MEUR 52.4% vs 532.4 MEUR 30.6.2025 vs 158.5 MEUR 2025 4-6 vs 46.2 % 30.6.2025 Gearing, 30.6.2026 Operating cash flow, 2026 4-6 Return on equity (ROE), 2026 4-6 51.
Slide 19: Outlook for 2026
Outlook for 2026 Announced on 5 February 2026 Background for the outlook The outlook is based on an assessment according to which economic conditions in the Company’s main market areas are expected to remain broadly unchanged, although some Alma Media expects its full-year positive signals have been
Slide 20: Alma's investment case
Alma’s investment case • A successful digital transformation has created a balanced portfolio of market-leading businesses, trusted brands and scalable digital platforms. • Alma Career provides an international growth platform across CEE, combining local market leadership with shared products, techn
Slide 21: Slide 21
Slide 22: Appendix
Appendix 22
Slide 23: FY2025 Highlights: Digital business and portfolio development driving profitable growth
FY2025 Digital business and portfolio development Highlights driving profitable growth ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +4.6% 120 +6.8% 30 327.1 24.1% 24.6% 25.1% 304.9 312.7 100 25 82.1 76.9 80 73.6 20 60 15 40 10 20 5 0 0 2023 2024 2025 2023 2024 2025 • Solid performa
Slide 24: Business segments H1 2026
Business segments H1 2026 ALMA CAREER ALMA MARKETPLACES ALMA NEWS MEDIA Vesa-Pekka Kirsi Santtu Elsinen Juha-Petri Loimovuori Leading job boards in eight CEE Leading marketplaces in real Prominent digital news media countries. Recruitment estate, mobility and business company in Finland. Pioneer in
Slide 25: Business segments Q2 2026
Business segments Q2 2026 ALMA CAREER ALMA MARKETPLACES ALMA NEWS MEDIA Vesa-Pekka Kirsi Santtu Elsinen Juha-Petri Loimovuori Leading job boards in eight CEE Leading marketplaces in real Leading digital news media in countries. Recruitment estate, mobility and business the Finnish market. Pioneer in
Slide 26: Alma Career: Revenue up 5.5% and adjusted operating profit up 4.9%
Alma Career: Revenue up 5.5% and adjusted operating profit up by 4.9%, driven by strong performance in the Czech market in Q2 SEGMENT REVENUE BY REVENUE CLASSES REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) 50 55 (REVENUE CHANGE IN BRACKETS) 45 50 28.5 42.3% -0
Slide 27: 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 9,234 9 000 9,085 8 500 8 000 7 876 7 500 7 000 6 847 6 500 6 000 10/21 01/22 04/22 07/22 10/22 01/23 04/23 07/23 10/23 01/24 04/24 07/24 10/24 01/25 04/25 07/25 10/25 01/26 04/26
Slide 28: Alma Marketplaces: Revenue up 9.2% and adjusted operating profit up 31.1%
Alma Marketplaces: Revenue up 9.2% and adjusted operating profit up by 31.1%, with growth across all business units in Q2 REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) SEGMENT REVENUE BY REVENUE CLASSES 50 40 (REVENUE CHANGE IN BRACKETS) 45 34.6% 31.9 34.4% 31.
Slide 29: Alma News Media: Revenue up 1.2%, adjusted operating profit up 20.6%
Alma News Media: Revenue up 1.2%, adjusted operating profit up 20.6%, with a record 20.0% margin in Q2 REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) SEGMENT REVENUE BY DIGITAL/PRINT 50 45 (REVENUE CHANGE IN BRACKETS) 45 40 +0.4 -0.5 27.8 40 35 27.5 +0.5 Digital
Slide 30: Continuing the renewal of portfolio – net investments over MEUR 200
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 31: Sustainability targets and results 2025
Sustainability targets and results 2025 31
Slide 32: Solid Financial Position
SOLID FINANCIAL POSITION
Slide 33: Cash flow
Cash flow OPERATING CASH FLOW Q2/2023 – Q2/2026 (MEUR) OPERATING CASH FLOW BRIDGE Q2/2025 YTD – Q2/2026 YTD 3.0 44.5 2.5 25 2.6 -2.3 1.1 2.0 20 5.0 0.3 1.5 15.5 15.6 37.8 15 1.0 10.9 9.8 10 0.5 5 0.0 -0.5 0 Q2 2025 Adjusted Taxes paid Net interest Changes Other Q2 2026 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24
Slide 34: Investments
Investments 4 3 2 CAPEX, LEASES, M&A Q2/2023 – Q2/2026 DEPRECIATIONS Q2/2023 – Q2/2026 1 Leases 15 0 CAPEX -0.5 13 -1 -1.7 -1.6 -1.6 M&A -1.4 -2 -0.9 -1.2 10 -1.4 -1.6 -3 7 11 -1.8 -1.4 1 -4 -1.6 -3.5 5 3 -5 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2 23 23 23 24 24 24 24 25 25 25 25 26 26 3 1 2 1 0 0
Slide 35: Earnings per share
Earnings per share ROE & ROI (%) Q2/2023 – Q2/2026* EARNINGS PER SHARE Q2/2023 – Q2/2026 45 40.5 0.23 40 0.22 35 33.0 0.18 0.18 29.4 28.8 30 25 22.0 21.2 20 17.3 17.2 15 10 5 0 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1
Slide 36: 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 21% Content sales 16% Lowest cyclicity Q2 2024 2025 Figures might not add to a 100% due to rounding 36
Slide 37: Total Shareholder Return 2016-2025
Total Shareholder Return 2016-2025 Total shareholder return 2016 - 2025, % Alma Media Includes dividends +594% OMXHGI +43% 30/12/2015 1/1/2016 30/12/2017 30/12/2019 30/12/2021 30/12/2023 30/12/2025 ALMA OMXHPI (norm vs ALMA) 37
Slide 38: Operating Environment
OPERATING ENVIRONMENT
Slide 39: Challenging operating environment
Challenging operating environment Lagging Changing Increasing Geopolitical economic growth consumer behaviour regulation turbulence Recovery signals on horizon, Expectations for easy, time- Complex regulatory The uncertainty surrounding but long-term structural saving, and safe digital environment a
Slide 40: Update on Finnish business confidence and consumer confidence
10 15 20 25 30 -5 -50 -45 -40 -35 -30 -25 -20 -15 -10 0 5 01/19 04/19 07/19 10/19 01/20 04/20 07/20 10/20 01/21 04/21 Manufacturing 07/21 confidence 10/21 01/22 04/22 07/22 10/22 Construction 01/23 04/23 07/23 10/23 Services 01/24 04/24 Source: Confederation of Finnish Industries (EK) & Statistics F
Slide 41: GDP growth development in operating countries
GDP growth development in operating countries Finland Czech Republic Slovakia Croatia Sweden 14 6 4 2 0% -2 -4 -10% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Key operating countries Smaller operating countries 2020 2021 2022 2023 2024 2025 2026E 2027E 2020 2021 2022
Slide 42: Unemployment rate development in operating countries
Unemployment rate development in operating countries Finland Czech Republic Slovakia Croatia Sweden 18% 14% 10% 8% 6% 4% 2% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Key operating countries Smaller operating countries 2020 2021 2022 2023 2024 2025 2026E 2027E 2020
Slide 43: The Finnish advertising market update
The Finnish advertising market update MONTHLY CHANGE IN MEDIA ADVERTISING 06/2025–06/2026 25% 15% 5% -5% -15% -25% -35% P6 25 P7 25 P8 25 P9 25 P10 25 P11 25 P12 25 P1 26 P2 26 P3 26 P4 26 P5 26 P6 26 Advertising sales total, chg % Newspaper advertising, chg % Online advertising, chg % Source: Kanta
Slide 44: Housing market & marketplaces update
Housing market & marketplaces update HOUSING MARKET UPDATE (SOLD APARTMENTS) -17.4% 14 928 15 387 14 711 11 833 12 329 14,472 14,981 14,346 11,582 11,990 456 406 365 251 339 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Existing apartments Newly built apartments Source: Federation of Real Estate Agency HOUSING MARK
Slide 45: Mobility market & marketplaces update
Mobility market & marketplaces update MOBILITY MARKET UPDATE* (SOLD CARS) -2.1% 195 254 178 162 169 619 174 373 161 039 157,607 178,571 154,320 151,680 143,837 20,555 16,683 17,939 17,202 20,053 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Used cars Source: Information Centre of Road Transport *Only passenger cars
Slide 46: 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 sanctio