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Alma Media: Record high profitability boosted estimates

ALMAResearch22.10.2021, 09.00
Petri GostowskiCo. Head of Research
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The Q3 report published by Alma Media yesterday was a little better than we expected as the higher-than-expected profitability pushed the Q3 result beyond our estimates. As a result, we made positive estimate changes to our result expectations for the next few years. Thanks to its excellent cash-flow performance, Alma Media's valuation will fall from its current high level to a justified level in the next few years, but in our view there is still no upside.

Alma Media operates in the media sector. The company's main focus is on digital media, where the offering consists of news content that touches on lifestyle, career and finance. The group operates several brands, the better-known of which include Kauppalehti. The customers are found in the Nordic countries, the Baltics and Europe and consist of private users. The head office is located in Helsinki.

Read more on company page

Key Estimate Figures21.10.2021

202021e22e
Revenue230.2273.1290.6
growth-%-8.0 %18.7 %6.4 %
EBIT (adj.)45.564.970.9
EBIT-% (adj.)19.7 %23.8 %24.4 %
EPS (adj.)0.360.620.67
Dividend0.300.320.35
Dividend %3.4 %2.4 %2.6 %
P/E (adj.)24.622.120.3
EV/EBITDA12.817.314.8

Forum discussions

CEO Kai Telanne was there presenting Alma as an investment target \n\nAlma Media sijoituskohteena | Pörssisijoittajan viikko 9.9.2026 - Inderes
9/9/2026, 2:44 PM
by Sijoittaja-alokas
2
Tärkeimmät talousuutiset | Kauppalehti – 7 Sep 26 Sähköautojen kysyntä on ennätysvahvaa Tärkeimmät ajankohtaiset talousuutiset, pörssikurssit...
9/7/2026, 8:41 AM
by OttoJ
3
Petri has written a company report on strong Alma Alma Media’s Q2 results exceeded our forecasts, driven by strong performance across all business...
8/13/2026, 4:02 AM
by Sijoittaja-alokas
6
A quick comment on Alma Media’s quarterly results, as there is indirect ownership through Ilkka:
8/12/2026, 4:09 PM
by Farseer
3
Alma Media’s CEO Kai Telanne was interviewed by Petri regarding the Q2 results Topics: (00:00) Q2 performance (00:22) Improvement in profitability...
8/12/2026, 1:14 PM
by Sijoittaja-alokas
7
This is some ice-cold performance. At 17 [Euros/currency unit], you’re getting nearly a 4% dividend yield from a company with excellent return...
8/12/2026, 9:16 AM
by Latela
12
Here are Petri’s quick comments on this morning’s results In Q2, Alma Media’s revenue development was slightly better than expected, but due...
8/12/2026, 8:07 AM
by Sijoittaja-alokas
4