Sanoma Corporation, Stock Exchange Release, 12 December 2018 at 19:50 EET
Sanoma complements financial information related to the Iddink acquisition
At the request of Nasdaq Helsinki Ltd. and related to Sanoma’s stock exchange release on 11 December 2018 on acquisition of Iddink, Sanoma complements information on Iddink’s financial performance and financial position. Figures presented in this release are based on Iddink Holding B.V.’s audited 2017 Dutch GAAP Financial Statements. 2017 figures differ from the ones presented in the earlier release, which are adjusted to align with Sanoma’s financial reporting.
Key income statement figures
|Rental book depreciations||16||15|
|Operating profit before depreciation and amortization||24||25|
|Depreciation and amortization||21||17|
In 2017, Iddink’s operating profit declined mainly due to EUR 3 million impairment write-offs included in depreciation and amortization. In addition, operating profit included non-recurring restructuring, acquisition, start-up and personnel costs, as Iddink invested in further development of its learning platforms.
Iddink’s operational EBITDA of EUR 27 million for 2017, as presented in the earlier release, is adjusted for approx. EUR 3 million of non-recurring costs.
Key balance sheet figures
|EUR million||31 Dec 2017||31 Dec 2016|
|Current assets (incl. rental books)||62||64|
|Total equity & liabilities||249||260|
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.4 billion and we employed more than 4,400 professionals in 2017. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.