Alma Media (ALMA) Q2 2026 earnings summary

Executive summary

• Revenue grew 5.0% in Q2 2026 to €87.9 million, with adjusted operating profit up 15.6% to €24.4 million; digital business now represents over 87% of total revenue.

• All business segments—Career, Marketplaces, and News Media—improved results, with digital transformation nearly complete.

• Strong cash flow and balance sheet, with leverage at 1.2x and equity ratio at 52.4%, supporting future investments.

• Profit growth was driven by digital services, disciplined cost management, and international expansion, especially in Czechia and Sweden.

• Net debt decreased to €125.1 million, down 21.1% year-over-year.

Financial highlights

• Adjusted operating profit margin reached 27.7% in Q2; earnings per share rose to €0.22 from €0.18 year-on-year.

• Free cash flow for Q2 was €14.7 million, up from €13.8 million year-on-year; H1 free cash flow nearly doubled.

• Adjusted EBITDA for H1 rose 10.6% to €52.3 million; profit for the period up 30.2% to €34.4 million.

• Paid €40 million in dividends and repaid €15 million in loans during Q2.

• Digital revenue grew 6.6% year-on-year; print revenue continued to decline.

Outlook and guidance

• Full-year 2026 revenue expected to remain at 2025 level (€327.1 million), with adjusted operating profit expected to grow.

• Management remains cautious due to market uncertainties, with consumer confidence and advertising market recovery seen as fragile.

• Economic conditions in main markets expected to remain broadly unchanged, with gradual recovery in Finland.