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Edge10 Jul 2026
Inside Take-Two: The Grand Anticipation
The story of how Take-Two Interactive built the empire behind Grand Theft Auto, Red Dead Redemption, and one of gaming's largest mobile portfolios.
Sanoma
Sanoma (SAA1V) investor relations material
Sanoma Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Jul, 2026
Executive summary
Net sales for H1 2026 were €555.8 million, down 1–2% year-over-year, with Learning growth driven by strong content sales in the Netherlands and Poland, and positive contribution from Vicens Vives; Media Finland faced headwinds from lower advertising and fewer events.
Adjusted operating profit increased 7% to €46.4 million, supported by stable Learning earnings, improved profitability in Media Finland, and contributions from acquisitions.
Three acquisitions in Learning (Vicens Vives, Fluentbe, Mr. Chadd) enhanced digital and AI-powered offerings and strengthened the Group's position in key European markets.
The Group remains on track for a significant step change in adjusted operating profit for 2026, with Q3 being decisive for Learning.
Media Finland improved profitability despite softer advertising sales, with digital subscriptions growth offsetting print decline.
Financial highlights
Q2 2026 net sales were €334.7 million (-1% year-over-year); adjusted operating profit €62.6 million (+1%).
H1 2026 adjusted operating profit in Learning was €29 million (2025: €28 million), including Vicens Vives.
H1 free cash flow was negative at €-73.4 million, reflecting seasonality and higher investments; expected to grow moderately for the full year.
Net debt increased to €775.8 million, with leverage at 3.0x adjusted EBITDA, peaking seasonally due to acquisitions and bond repayment; expected to fall below 2.5x by year-end.
Adjusted EPS improved to €0.10 in H1 2026 (2025: 0.04); Q2 adjusted EPS was €0.23 (Q2 2025: 0.21).
Outlook and guidance
Guidance unchanged; 2026 net sales expected at €1.29–1.34 billion, with adjusted operating profit €205–225 million and margin targeted above 23%.
Free cash flow for 2026 expected to grow moderately, weighted to Q4.
Q3 is decisive for Learning due to curriculum-driven sales phasing, especially in Southern Europe.
Demand for learning content anticipated to rise due to curriculum renewals; Finnish advertising market expected to remain stable but uncertain.
Analyze the EUR 15 million Learning sales shift
Impact of the 2027 gambling market opening
Drivers of the seasonal peak in leverage ratio
Status of the EUR 15 million Q3 sales delivery
Expansion potential of the Fluentbe AI platform
Media preparations for gambling market opening
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Sanoma
- Operational EBIT and free cash flow rose despite lower sales and major impairments.SAA1V
Q3 20258 Jul 2026 - Strong H1 EBIT and cash flow gains, with stable outlook and efficiency-driven margin support.SAA1VQ2 20248 Jul 2026
- High single-digit profit growth targeted through learning, digital, AI, and gambling market gains.SAA1VCMD 20258 Jul 2026
- Strong growth in learning and digital media, with high earnings and ESG leadership targeted.SAA1VInvestor presentation22 May 2026
- Stable sales and improved profit, with Learning growth offsetting Media Finland's ad decline.SAA1VQ1 202613 May 2026
- Profitability and cash flow rose on Learning growth, with strong outlook and higher dividends.SAA1VInvestor presentation16 Mar 2026
- Profitability and cash flow rose in 2025, with 2026 profit growth expected from Learning.SAA1VQ4 202511 Feb 2026
- Operational EBIT and free cash flow rose, with leverage at 2.4 and Dutch contract impairment booked.SAA1VQ3 202417 Jan 2026
- Improved profitability, digital growth, and a EUR 0.39 dividend mark a strong 2024.SAA1VAGM 202527 Dec 2025
Next Sanoma earnings date
Q3 202628 Oct, 2026
Sanoma
Next Sanoma earnings date
Q3 202628 Oct, 2026
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