Keskisuomalainen (KSL) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was €202.7m, down 2.8% year-over-year; operational comparable EBIT improved to €2.6m from a €0.9m loss.

• Net result improved to a €6.2m loss from €13.2m loss; EPS at -€0.58 versus -€1.30.

• Board proposes a €0.35 dividend per share and may add up to €0.20 extra dividend.

• Major acquisition of North Karelia media business integrated in April 2024; restructuring and efficiency program ongoing.

• Operational environment remained challenging, especially in media sales, but digital and consumer sales were strong.

Financial highlights

• Revenue €202.7m (2023: €208.6m), -2.8% year-over-year; operational comparable EBIT €2.6m (2023: -€0.9m).

• EBITDA €13.7m (2023: €11.0m), +24.3%; operational comparable EBITDA €14.6m (2023: €11.2m), +30.6%.

• Net result -€6.2m (2023: -€13.2m), EPS -€0.58 (2023: -€1.30).

• H2/2024 revenue €100.0m (+0.5% y/y); operational comparable EBIT €0.8m (2023: -€1.0m).

• Dividend proposal €0.35/share, with possible extra €0.20/share.

Outlook and guidance

• Revenue and operational comparable EBIT expected to improve clearly in 2025.

• Efficiency program targets €7m annual savings by 2026; focus on digital transformation and cost control.