Sanoma Corporation, Stock Exchange Release, 20 July 2017 at 10:30 CET+1
Sanoma announced on 19 July that it will change its segment reporting. Previously Sanoma reported two segments, Consumer Media (comprising Sanoma Media Finland and Sanoma Media BeNe) and Learning (comprising Sanoma Learning). Following the divestment of the Dutch TV business, Sanoma considers that the operations of its two strategic business units focusing on consumer media, Sanoma Media Finland and Sanoma Media BeNe, are quite different and should be reported separately. Therefore Sanoma will report three operating segments going forward, i.e. its three strategic business units Sanoma Media BeNe, Sanoma Media Finland and Sanoma Learning. This will be aligned with the way Sanoma manages the businesses.
Comparable information for new segments for all quarters in 2016 and first quarter in 2017 is provided in the attached tables. The half-year report, to be published on 25 July, will be prepared in accordance with the new structure.
The information is available also in Sanoma.com/investors.
Additional information
Sanoma's Investor Relations, Anna Tuominen, tel. +358 40 584 6944
Sanoma
Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child.
With companies operating in Finland, the Netherlands, Belgium, Poland and Sweden, our net sales totalled EUR 1.6 billion and we employed over 5,000 professionals in 2016. The Sanoma shares are listed on Nasdaq Helsinki.
Segment information
Segment assets do not include cash and cash equivalents, interest-bearing receivables, tax receivables and deferred tax receivables. Transactions between segments are based on market prices.
Sanoma segments 1.1–31.3.2017 (Restated)
| EUR million | Media BeNe | Media Finland | Learning | Unallocated/ eliminations | Total |
| External net sales | 168.1 | 144.1 | 31.7 | 343.8 | |
| Internal net sales | 0.1 | -0.1 | |||
| Net sales, total | 168.1 | 144.1 | 31.7 | -0.1 | 343.8 |
| Operating profit | -408.0 | 19.6 | -15.5 | -11.8 | -415.9 |
| Operational EBIT | 9.3 | 19.0 | -15.0 | -1.9 | 11.4 |
| Share of results in associated companies | 0.0 | 0.0 | 0.1 | ||
| Financial income | 4.7 | 4.7 | |||
| Financial expenses | -11.3 | -11.3 | |||
| Result before taxes | -422.4 | ||||
| Segment assets | 1,267.4 | 251.4 | 520.5 | 42.1 | 2,081.4 |
Sanoma segments 1.1–31.12.2016 (Restated)
| EUR million | Media BeNe | Media Finland | Learning | Unallocated/ eliminations | Total |
| External net sales | 775.9 | 580.5 | 282.5 | 0.3 | 1,639.1 |
| Internal net sales | 0.4 | 0.1 | -0.6 | ||
| Net sales, total | 775.9 | 580.9 | 282.6 | -0.3 | 1,639.1 |
| Depreciation, amortisation and impairment losses | -161.4 | -93.9 | -39.9 | -4.5 | -299.7 |
| Operating profit | 100.6 | 41.3 | 67.4 | -12.6 | 196.6 |
| Operational EBIT | 85.6 | 49.5 | 56.8 | -24.0 | 167.9 |
| Share of results in associated companies | -2.2 | 0.3 | -0.4 | -0.2 | -2.4 |
| Financial income | 10.5 | 10.5 | |||
| Financial expenses | -47.5 | -47.5 | |||
| Result before taxes | 157.2 | ||||
| Capital expenditure | 5.8 | 5.2 | 17.7 | 6.0 | 34.8 |
| Goodwill | 1,302.3 | 86.5 | 274.2 | 0,0 | 1,663.0 |
| Equity-accounted investees | 17.2 | 3.7 | 0.1 | 0.4 | 21.3 |
| Segment assets | 1,720.2 | 258.1 | 505.0 | 43.6 | 2,526.9 |
| Other assets | 78.7 | 78.7 | |||
| Total assets | 2,605.6 | ||||
| Segment liabilities | 931.9 | 215.9 | 110.3 | -553.4 | 704.7 |
| Other liabilities | 898.5 | ||||
| Total liabilities | 1,603.1 | ||||
| Cash flow from operations | 60.9 | 80.4 | 56.5 | -44.3 | 153.5 |
| Average number of employees (full-time equivalents) | 1,799 | 1,797 | 1,413 | 374 | 5,384 |
Sanoma segments 1.1–30.9.2016 (Restated)
| EUR million | Media BeNe | Media Finland | Learning | Unallocated/ eliminations | Total |
| External net sales | 557.9 | 428.2 | 254.6 | 0.2 | 1,241.0 |
| Internal net sales | 0.3 | 0.0 | -0.3 | ||
| Net sales, total | 557.9 | 428.5 | 254.6 | 0,0 | 1,241.0 |
| Operating profit | 89.3 | 37.2 | 101.4 | -8.2 | 219.8 |
| Operational EBIT | 58.8 | 40.3 | 80.6 | -13.2 | 166.5 |
| Share of results in associated companies | -0.3 | 0.2 | -0.4 | 0,0 | -0.4 |
| Financial income | 10.6 | 10.6 | |||
| Financial expenses | -34.4 | -34.4 | |||
| Result before taxes | 195.6 | ||||
| Segment assets | 1,719.3 | 297.6 | 572.3 | 50.2 | 2,639.4 |
Sanoma segments 1.1–30.6.2016 (Restated)
| EUR million | Media BeNe | Media Finland | Learning | Unallocated/ eliminations | Total |
| External net sales | 378.2 | 294.4 | 129.9 | 0.3 | 802.8 |
| Internal net sales | 0.2 | 0.0 | -0.2 | ||
| Net sales, total | 378.2 | 294.6 | 129.9 | 0.1 | 802.8 |
| Operating profit | 65.3 | 27.6 | 52.6 | -0.8 | 144.7 |
| Operational EBIT | 37.0 | 30.1 | 30.1 | -8.4 | 88.8 |
| Share of results in associated companies | -0.2 | 0.1 | 0.0 | -0.1 | |
| Financial income | 9.6 | 9.6 | |||
| Financial expenses | -27.2 | -27.2 | |||
| Result before taxes | 127.0 | ||||
| Segment assets | 1 723,7 | 278,5 | 570,9 | 52.7 | 2,625.8 |
Sanoma segments 1.1–31.3.2016 (Restated)
| EUR million | Media BeNe | Media Finland | Learning | Unallocated/ eliminations | Total |
| External net sales | 175.6 | 144.4 | 32.9 | 0.2 | 353.1 |
| Internal net sales | 0.1 | 0.0 | -0.1 | ||
| Net sales, total | 175.6 | 144.5 | 32.9 | 0.1 | 353.1 |
| Operating profit | 11.4 | 10.1 | -11.1 | -7.3 | 3.1 |
| Operational EBIT | 7.4 | 11.0 | -10.9 | -5.6 | 1.9 |
| Share of results in associated companies | -0.1 | 0.1 | 0.0 | 0.1 | |
| Financial income | 9.2 | 9.2 | |||
| Financial expenses | -17.9 | -17.9 | |||
| Result before taxes | -5.5 | ||||
| Segment assets | 1,726.6 | 284.7 | 498.6 | 54.7 | 2,564.7 |