Sanoma Corp Unsp/Adr (SWYBY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Sanoma's full year 2025 results presentation. My name is Kaisa Urasma. I'm heading investor relations and sustainability at Sanoma. In 2025, our adjusted operating profit and free cash flow improved, and this was driven by learning. And today, President and CEO Rob Kolkman and CFO Alex Green will tell you more about our results and the outlook for 2026. After the presentation, we will host a Q&A session. We will first take questions from here at Sanoma House. Please use the microphone. Then we will hand over to the telephone line, and then you can also use the chat function in the webcast platform. After the presentation, the recording of the whole event will be available on our website. With this, I would like to hand over to Rob, please. Thank you, Kajsa. And good morning, everyone. It's my pleasure to present the full year results 2025 to you today. And indeed, the results show improvement in the adjusted operating profit and free cash flow. And that's now really ahead, of course, of the step change we expect for 2026. So let me, as per usual, zoom in on the total numbers first, and then go both learning and media more specifically. And today, I will come back after Alex's presentation to actually go more specifically into 2026 and our expectations there. If you look at the total numbers, then a lot of this was, of course, already very visible in the results in the quarter three, as quarter three is such a big quarter for us. So trends very firmly are the same, which is around the net sales having that impact due to the discontinuation of the low value learning material distribution contracts and the lower advertising sales in line with what we saw already. Really good. growth on the adjusted operating profit, going to 188 co...