Sanoma (SAA1V) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened with introductions of the Board of Directors, agenda overview, and voting instructions for both in-person and online participants.

• Confirmation of the meeting's legality, quorum, and attendance was established, with 72.6% of shares represented.

• President & CEO Rob Kolkman highlighted improved adjusted operating profit and free cash flow driven by Learning for FY 2025.

Board and executive committee updates

• Anna Herlin and Pekka Ala-Pietilä announced they would not seek re-election; Tiina Alahuhta-Kasko was proposed as a new board member.

• Timo Lappalainen was elected as the new Chair, Klaus Cawén as Vice Chair, and the board was reduced from nine to eight members.

• Board remuneration was increased by roughly 10% after six years without change.

Financial performance review

• Net sales for FY 2025 were €1,303m, with adjusted operating profit at €188m and a margin of 14.4%.

• Learning segment net sales were €746m, with a margin of 20.4%; Media Finland net sales were €557m, with a margin of 8.8%.

• Free cash flow improved to €160m, supported by working capital movements, lower financing costs, and higher earnings.

• Net debt/Adjusted EBITDA improved to 1.8, reflecting significant deleveraging.

• Profit for 2025 was EUR 20 million, down from EUR 40 million in 2024.