Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business organically and through smaller in-market acquisitions.

Our Finnish media provide trusted, independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.

Our Capital Markets Day 2025 was held on 25 November

Key investment highlights

A leading European K12 learning content provider

K12 education is a priority for parents, students and governments worldwide.

  • Leader in blended learning: the teacher’s preferred approach 
  • Best-in-class content and strong teacher relationships give us significant competitive advantage
  • Inclusive and personalised learning to help all students reach better education outcomes

Read more about our learning business

Shaping the future of K12 education via multiple levers

Well placed to grow Learning revenues in 2026–2030

  • Strong curriculum renewal cycle commencing in core markets
  • Combining curriculum K12 learning expertise with AI unlocks significant opportunities in personalised learning
  • Clear potential and pathway to consolidate a fragmented market

Strong business fundamentals

Positioned to deliver on both our growth ambition and dividend policy

  • Successful digital transformation in Media Finland supported by significant growth from gambling market opening
  • Quality and profitability of Media Finland enhances our ability to invest in Learning growth
  • Robust balance sheet and strong FCF growth enables increasing dividends and M&A

Read more about our Media business

Read more about our recent acquisitions and divestments

M&A strategy: Focus on growth opportunities in K12 learning business

We are well-placed to grow through M&A in K12 with a disciplined approach.

We have significant headroom and ability to undertake M&A in one of three clear areas: either where it enlarges our geographic footprint in blended learning, where it would upweight our position in an existing geography or offering, or where it could take us into a logical Learning adjacency in geographies we know well.

We only look at opportunities that fit within our K12 focus and that are market leading in nature or support our market leading position. Our criteria also includes that opportunities are growing and profitable as well as display similar high barriers to entry that our current business has.

We will look at opportunities where we are confident they can accelerate our growth, drive scale for us through consolidation of the fragmented Learning market, and enhance returns for our shareholders.

Key facts 2024

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Net sales

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Operational EBIT excl. PPA

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Operational EBIT margin excl. PPA

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Free cash flow

Employees

Fact sheet