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 2023 was held on 22 November

Key investment highlights

We are one of the global leaders in K12 education serving about 25 million students

  • Producing inclusive learning materials and platforms to promote equal learning opportunities
  • Strengthening our #1 position in European K12 learning services
  • Aiming for selective growth globally through M&A
  • Long-term financial targets:
    • Comparable net sales growth 2-5%
    • Operational EBIT margin excl. PPA above 23%

Read more about our learning business

We are Finland’s #1 cross-media company with a weekly reach of 97%

  • Providing trusted Finnish journalism and inspiring entertainment
  • Continuing our successful digital transformation towards higher margin
  • Increasing share of B2C provides sustainable future opportunities
  • Long-term financial targets:
    • Comparable net sales growth +/-2%
    • Operational EBIT margin excl. PPA 12-14%

Read more about our media business

Growing through M&A while paying an increasing dividend

  • Supporting our growth strategy in learning with a solid balance sheet
  • Growing our dividend with an attractive yield
  • Investing in further digital growth and in our people

Read more about our recent acquisitions and divestments

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

We aim to grow in K12 learning content by  We aim to acquire companies that Our M&A pipeline is healthy
  • Strengthening our position in current operating countries
  • Entering new geographies where spending on education is stable or increasing
  • Expanding also outside Europe as long as it fits our criteria
  • Focus on K12 learning content
  • Have leading #1−3 market positions 
  • Operate in markets with high barriers to entry
  • Are growing, profitable and cash generative
  • Provide opportunities for synergies
  • Market consolidation driven by accelerating digitalisation
  • Majority of potential target companies owned by families, foundations or private equity 
  • Experienced in complex separations and integrations

Key facts 2023


Net sales


Operational EBIT excl. PPA


Operational EBIT margin excl. PPA


Free cash flow