Sanoma (SAA1V) AGM 2025 summary

Opening remarks and agenda

• CEO and business leaders presented a comprehensive review of 2024, focusing on both media and learning segments.

Financial performance review

• Revenue split: 57% from learning, 76% of profitability from learning, reflecting a strategic shift.

• Cash flow improved from EUR 105 million to EUR 145 million, strengthening the balance sheet.

• Learning margins improved, targeting 23% by 2026; operational EBIT benefited from lower costs and divestments.

• Board proposes a EUR 0.39 dividend for the year, to be paid in three equal installments.

• Net debt/EBITDA reduced to 2.2, below long-term target; credit facility extended to 2027 and EUR 150 million social bond issued.

Board and executive committee updates

• CEO total compensation for 2024 was EUR 1.3 million, with 54% fixed and 46% variable components.

• Long-term incentive structure updated to a three-year performance period with annual targets.