Alma Media (ALMA) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue increased by 4.1% year-over-year to MEUR 81.2, with adjusted operating profit up 16.6% to MEUR 19.5; full-year revenue grew 2.5% to MEUR 312.7 and adjusted operating profit reached MEUR 76.9, margin 24.6%.

• Digital business accounted for 84.2% of total revenue in 2024, marking a record high and significant progress in digital transformation.

• All business segments—Career, Marketplaces, and News Media—improved profitability, despite challenging market conditions, especially in recruitment and advertising.

• Strong cash flow and a healthy balance sheet position the company for future investments and potential acquisitions.

• Board proposes a dividend of EUR 0.46 per share, with a payout ratio of 72%.

Financial highlights

• Q4 2024 revenue: MEUR 81.2 (+4.1% YoY); adjusted operating profit: MEUR 19.5 (+16.6% YoY), margin 24.0%.

• FY 2024 revenue: MEUR 312.7 (+2.5% YoY); adjusted operating profit: MEUR 76.9 (+4.4% YoY), margin 24.6%.

• Equity ratio at 48.6%-49%, net debt to EBITDA at 1.5x, and MEUR 15 in loan repayments made in Q4.

• Cash flow from operating activities increased to MEUR 73.8 for the year.

• Earnings per share for 2024: EUR 0.64; dividend proposal of EUR 0.46 per share.

Outlook and guidance

• 2025 revenue and adjusted operating profit are expected to remain at 2024 levels, with continued market uncertainty and cautious growth in main markets.

• Long-term targets updated: annual revenue growth of at least 5%, adjusted EBITDA/operating profit margin target raised to 30% (to be reached in three years).

• Acquisitions and diversification are expected to support revenue and profit.

• Recovery in consumer and company confidence, as well as macroeconomic improvements, are key for potential upgrades to guidance.