Sanoma (SAA1V) AGM 2026 summary

Opening remarks and agenda

• AGM held in Helsinki on 7 May 2026; 72.6% of shares were represented.

• FY2025 financial statements were adopted and the Board and President and CEO were discharged from liability; the Remuneration Report was adopted by advisory decision.

Board and executive committee updates

• Board set at eight members; Tiina Alahuhta-Kasko was elected, while Anna Herlin and Pekka Ala-Pietilä did not seek re-election. Seven members were re-elected for terms ending at AGM 2027.

• Timo Lappalainen was elected Chair and Klaus Cawén Vice Chair.

• Annual Board remuneration increased after remaining unchanged since AGM 2020: €160,000 for the Chair, €100,000 for the Vice Chair and €80,000 for members; meeting fees were unchanged.

Financial performance review

• FY2025 net sales were €1,303m; adjusted operating profit was €188m, with a 14.4% margin. Net profit was €20m, down from €40m in 2024.

• Learning generated €746m in net sales at a 20.4% margin; Media Finland recorded €557m in net sales at an 8.8% margin.

• Free cash flow rose to €160m, supported by higher earnings, working capital movements and lower financing costs; higher taxes paid partly offset the improvement.

• Net debt/Adjusted EBITDA improved to 1.8 and the equity ratio to 47.1%, from 45.0% in 2024.

• Net sales declined mainly due to planned discontinuation of low-value learning-material distribution contracts in the Netherlands and lower advertising sales.