Sanoma Corp Unsp/Adr (SWYBY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

We had a solid first half of the year, and today the President and CEO Rob Kolkman and CFO Alex Green will represent the results. After the presentation, we will have a Q&A session. We will first take questions from here at Sanoma House. Please use the microphone. We will then hand over to the telephone line if there are any further questions, and then you can also use the chat function for questions. After the presentation, a recording will be available on our website. With this, I would like to invite Rob on stage, please. Thank you, Kaisa, and good morning. It's my pleasure to present the half-year results to you. They are really solid first six months results. And most importantly, the message today is we are on track for that full year step change in adjusted operating profit. So as always, what I would like to do is share with you a few highlights overall, then zoom in on the learning side and media separately. And then after Alex's presentation on the financials, I will come back and give a bit more insights from our perspective on the full year guidance as well. So if you look at the first six months, then the net sales in learning grew, and that was driven already by learning material sales in the Netherlands. It was continuing growth in Poland. Of course, the Visent Vivas acquisition that we did earlier in the year is starting to contribute as well. And on the flip side, the advertising had an adverse impact if you think about Media Finland's net sales. So I'll touch on all these elements more specifically. One key element that we highlight today is it's always very difficult to see exactly how orders and sales fall between the quarters, particularly in a year when there is a lot of curriculum change. And we've indicated that before and we thought it's impo...