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Extensive research

Alma Media: Value creation with a digital business portfolio

By Inderes
Alma Media
Download report (PDF)

Most of Alma Media's income streams are generated by digital businesses with a strong market position and competitiveness. Considering these factors, we believe the company has rather good conditions for long-term value creation.

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 Figures10.06.2023

202223e24e
Revenue308.8305.7309.6
growth-%12.1 %-1.0 %1.3 %
EBIT (adj.)73.467.669.1
EBIT-% (adj.)23.8 %22.1 %22.3 %
EPS (adj.)0.720.590.62
Dividend0.440.460.48
Dividend %4.7 %3.4 %3.5 %
P/E (adj.)13.123.122.0
EV/EBITDA9.515.014.5

Forum discussions

Alma Media Executive Management Team members bought shares | Kauppalehti Behind a paywall, but the headline speaks for itself. The Management...
6/2/2026, 4:58 PM
by Camelman
5
It might be too big a bite for Otava alone, but why not with a partner? For example, Herlin.
5/5/2026, 11:06 AM
by Roni
0
It would be interesting to be a fly on the wall at Otava’s board meetings. What is their end game in this Alma Media play? “A strategic holding...
5/5/2026, 10:44 AM
by Gop1
1
That 700,000-share trade is likely the one mentioned in the news below, meaning Otava has received permission from the Finnish Competition and...
4/30/2026, 6:45 PM
by Opa
6
My own view is that in addition to the recommendation, the forecasts are unnecessarily cautious. I believe an EPS of 0.85 is closer, but even...
4/30/2026, 5:24 PM
by Latela
4
Good question, and yes, I did consider a Buy recommendation as well. The reason I held back on it is that it’s difficult to see drivers for ...
4/30/2026, 7:38 AM
by Petri Gostowski
13
Petri’s latest report on Alma Media: Inderes Alma Media Q1'26: Marginaaliparannus etenee mallikkaasti - Inderes Alma Median Q1-tulos oli selke...
4/30/2026, 5:43 AM
by Karhu Hylje
11