Sanoma Corp Unsp/Adr (SWYBY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to Sanoma's third quarter results presentation. My name is Kaisa Urasma. I'm heading investor relations and sustainability at Sanoma. We had a solid quarter and it supported our improved operational EBIT for the beginning of the year. And today, President and CEO Rob Kolkman and CFO Alex Green will present you the results. After the presentation, we will have a Q&A session. We will first take questions from the audience here at Sanoma House. Please use the microphone. We will then hand over to the telephone line. And you can also use the chat function in the webcast platform. The full event, including the Q&A, will be recorded, and the recording will be available on our website shortly after the event. With this, I would like to invite Rob on stage. Please. Thank you very much, Kajsa. And good afternoon, everybody. It's my pleasure to present the quarterly results to you today. And they were indeed solid results. And let me highlight a few of the key points first, and then, as usual, zoom into the different parts of the business. On the sales side, what really played out in quarter three is what we also indicated before, which is on the learning, the impact of the planned discontinuation of the low-value distribution contracts in the Netherlands was partly offset by the growth in the learning content sales. And in media Finland, we saw lower advertising sales, which was also partially offset by the continued growth in digital subscriptions. We're very pleased that for the first nine months, the operational EBIT improved in both businesses, and also our free cash flow continues to improve. And that's driven by those higher earnings and lower financing costs. And Alex will later on go a little bit deeper into that as well. As a res...