Healthy growth for Sanoma’s digital business in Q3
28 Oct 2016
The digital revenue of Sanoma’s Consumer Media division continued to grow handsomely in Finland, and increased slightly in the Netherlands and Belgium in Q3 FY2016 from the same period last year.
This division houses Sanoma’s classified businesses in Finland and the Netherlands, with the online auction platform Huuto and marketplace Oikotie.
The net sales of the digital businesses of Sanoma in Finland amounted to €52.2 million ($56.9 million U.S.), up 11.8 percent from the same period last year (Q3 FY2015: €46.6 million). In the Netherlands and Belgium the net sales of digital businesses amounted to €71.4 million ($77.9 million U.S.), an increase of 1.1 percent year-on-year (Q3 FY2015: €70.6 million).
Here is Sanoma Group’s overall financial results for Q3 FY2016 in a nutshell:
• Net sales amounted to €438.1 million (2015: €458.3 million).
• Adjusted for changes in the group structure, Sanoma’s net sales increased by 1.5 percent.
• Operating profit was €75.1 million (2015: €9.8 million).
• Items affecting comparability included in the operating profit amounted to -€2.6 million (2015: -€52.7 million), and were related to restructuring expenses as well as pension plans in the Netherlands.
In the previous year, items affecting comparability consisted mainly of sales gains and losses as well as restructuring expenses.
Sanoma expects that the group’s consolidated net sales growth adjusted for structural changes will improve from last year (2015: -3.4 percent). The operational EBIT margin is estimated to come in at above 9.5 percent.