Sanoma Corporation, Press Release, 22 November 2023 at 8:30 EET

Sanoma Capital Markets Day 2023: A unique sustainability profile with increasing profitability

Sanoma is hosting Capital Markets Day 2023 for investors and analysts today, 22 November, in Helsinki and online. During the day, the management will provide an update on the strategy, operating environment and financial performance of Sanoma Group and its two businesses, Learning and Media Finland. Presentations will be given by all members of Sanoma’s Executive Management Team: Susan Duinhoven (President and CEO of Sanoma Corporation until 31 December 2023), Alex Green (CFO), Rob Kolkman (CEO, Sanoma Learning; President and CEO of Sanoma Corporation as of 1 January 2024) and Pia Kalsta (CEO, Sanoma Media Finland).

On 26 October Sanoma communicated the launch of a three-year process and efficiency improvement program “Solar” in Learning. Supported by Solar, Sanoma estimates that Learning’s operational EBIT margin excl. PPA will reach its long-term target level of 23% in 2026 (approx. 18% in FY 2023). Improving profitability through Program Solar in Learning and the continuing digitalisation in Media Finland will be the centre of Sanoma’s strategy in 2024−2026, combined with small in-market acquisitions and deleveraging of the balance sheet.

All Sanoma’s Group and SBU-level long-term financial targets remain unchanged and are listed in the table below. Sanoma has not defined a specific timeline for reaching any of the other targets.

Learning Long-term targetPerformance in 2022
Organic growth2−5%1%
Operational EBIT margin excl. PPA> 23% (from 2026 onwards)19.4%
Media Finland  
Organic growth+/- 2%0%
Operational EBIT margin excl. PPA12−14%10.6%
Sanoma Group  
Net debt / Adj. EBITDA< 3.03.2
Equity ratio35−45%35.8%
Dividend policyGrowing dividend, 40−60% of annual free cash flow93%

Agenda for the Capital Markets Day (EET)

9:00 Registrations
9:30 Presentations
10:40 Simulations of blended learning in primary and secondary education by two Finnish teachers
11:10 Break
11:30 Presentations continue
13:00 End of presentations
Buffet lunch served

Webcast, presentation material and recordings

A live webcast from the Capital Markets Day can be followed via   The presentation materials will be available on Sanoma’s website at at the beginning of the event and recordings of the webcast after the event.

Additional information
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601

Sanoma is an innovative and agile learning and media company impacting the lives of millions every day. Our Sustainability Strategy is designed to maximise our positive ‘brainprint’ on society and to minimise our environmental footprint. We are committed to the UN Sustainable Development Goals and signatory to the UN Global Compact.

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.

Our Finnish media provide 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.

Today, we operate in twelve European countries and employ more than 5,000 professionals. In 2022, our net sales amounted to approx. 1.3bn€ and our operational EBIT margin excl. PPA was 14.6%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at