Multiple levers to drive growth and value creation in Learning

Capture the curriculum renewal cycles

Drive continued organic growth with our best-in-class content, capturing the curriculum renewals in 2026–2030 and positive spending trends

K12 publishing market values in Sanoma's key operating countries, indexed to 2020

Shape our market

Drive further growth by shaping the evolution of K12 education towards personalised learning, embracing AI

Learn more about the AI use at Sanoma

Scale our opportunity

Building on our existing scalable foundation for operating leverage, accelerating growth through value-creating M&A and strategically-focused acquisitions. We are well-placed to grow through M&A in K12 with a disciplined approach.

K12 education: A large and attractive market

K12 learning content is a 5bn€ market in Europe

Financial targets

Learning's profitability will reach clearly above 23% in 2026.

Growth at Learning Target %
Comparable net sales Mid single-digit
Adjusted operating profit High single-digit

Growth is measured annually with a 3-year CAGR (compound annual growth rate). Additional considerations on top of the above financial targets are:

  • In Learning, the Dutch distribution sales are expected to be around EUR 40 million lower in 2026, improving Learning margin clearly above 23% in 2026

Learn more

Key figures 2025

m€

Net sales

m€

Adjusted operating profit

%

Adjusted operating profit margin

employees, FTE

m

students