The Finnish media group Sanoma has deep red figures last year written by restructuring charges and write-downs on its assets, such as program rights and goodwill. The company from Helsinki suffered a loss of € 158 million in 2015 on revenues of € 1.7 billion.
Sanoma (HH)
Dutch Height
Sanoma in Netherlands owner of the eponymous magazine group (including Libelle, Margriet and Linda). In addition, the company owns 66% stake in broadcaster SBS. In 2014, Sanoma wrote € 62 million net profit on revenues of € 1.9 billion.
Results repair
Sanoma makes a difficult period. After initial setbacks in the Netherlands last year were mainly the activities domestically under pressure. Under the Dutch top woman Susan Duinhoven took office in September has to restore the business results again.
Excluding extraordinary items, operating profit by almost 30% to € 83.2 million. this year the company expects the sales trend is in line with last year (minus 3.4%), or that an improvement will occur.
Recovery in 2016
the operating profit margin will be around 7%, which the company is counting on recovery in corporate results. Last year the margin was less than 5%. The Finnish market remains under pressure.
Sanoma CEO Susan Duinhoven speaks of a “challenging year” for the company. It points out that Sanoma to “modest expectations” to fully comply by making tough choices and focusing on innovation. As the publisher according Duinhoven achieved solid growth with sales of new media, a key factor for future success.
Netherlands
the activities in Belgium and the Netherlands fell last year by € 41 million to back a turnover of € 829, 5 million. This revenue loss was mainly due to the printing activities. SBS posted sales growth, thanks to the acquisition of the Champions League rights.
Duinhoven emphasized the interaction between the SBS stations and other expenses of Sanoma. So the magazine VT Wonen do to boost the circulation figures by 32% thanks to an eponymous TV programs on commercial TV station SBS6. Also Sanoma news website Nu.nl will benefit from the Champions League rights acquired by SBS.
“SBS is a good possession in the Dutch market, “said Duinhoven. “And that will only be the case.
Credit
Sanoma also announced to have entered into a new credit arrangement with a group of seven banks. It is a facility of € 500 million, which lasts at least four years. The scheme replaces a facility of € 600 million expiring. Under the financing banks is also ING. Duinhoven mentioned the plan during an analyst meeting “very good news”.
At the fair in Helsinki investors responded pleasantly surprised at the refinancing and prospects. It sank deep left Sanoma share recorded around 10.15 8.5% higher at € 4.02.
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