Sanoma (SAA1V) AGM 2025 summary

Opening remarks and agenda

• FY2024 financial statements adopted; Board members and President and CEO discharged from liability, and the Remuneration Report adopted on an advisory basis.

• CEO and business leaders reviewed 2024 performance across Media and Learning, highlighting higher operational EBIT and stronger free cash flow.

Financial performance review

• Net sales declined to €1,345m from €1,393m, reflecting planned contract discontinuations and divestments.

• Operational EBIT was €180m versus €175m; operational EBIT margin excluding PPA rose to 13.4% from 12.6%.

• Free cash flow increased to €145m from €105m, driven by higher EBITDA and lower investments.

• Learning margin improved to 19.2% from 18.7%, while Media Finland margin rose to 8.2% from 6.7%.

• Net debt/adjusted EBITDA fell to 2.2 from 2.8; equity ratio increased to 45.0% from 42.5%.

Board and executive committee updates

• Nine-member Board elected through AGM 2026: Pekka Ala-Pietilä, Klaus Cawén, Julian Drinkall, Rolf Grisebach, Anna Herlin, Sebastian Langenskiöld and Eugenie van Wiechen re-elected; Jannica Fagerholm and Timo Lappalainen elected.

• Pekka Ala-Pietilä elected Chair and Klaus Cawén Vice Chair; 2025 Executive Committee comprises Chair Pekka Ala-Pietilä, Klaus Cawén and President and CEO Rob Kolkman.

• Rolf Grisebach appointed Audit Committee Chair; Julian Drinkall appointed Human Resources Committee Chair, with committee memberships also set.

• CEO total compensation for 2024 was €1.3m, comprising 54% fixed and 46% variable components.

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