Current outlook (published on 26 Oct):

In 2021, Sanoma expects that the Group’s reported net sales will be EUR 1.2‒1.3 billion (2020: 1.1). The Group’s operational EBIT margin excl. PPA is expected to be around 15.5% (2020: 14.7%).

The updated outlook is based on the actual January–September 2021 performance and updated estimate for October–December 2021 of Sanoma’s businesses, where the uncertainty caused by the coronavirus pandemic has decreased in events and B2B advertising compared to earlier in the year.

Previous outlook (published on 10 February):

In 2021, Sanoma expects that the Group’s reported net sales will be EUR 1.2‒1.3 billion (2020: 1.1). The Group’s operational EBIT margin excluding PPA is expected to be 14%–16% (2020: 14.7%).

Regarding the operating environment and its implications for the business and financials Sanoma expects that:

  • Net sales of the events business will be approximately half of the 2019 level (2019: EUR 35 million) and profitability around break-even.
  • The advertising demand will be weighted towards the second half of the year.
  • The learning business will not be significantly impacted by prolonged school closures in its main operating countries.