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Extensive research

Alma Media: A broad spread of digital services

By Petri GostowskiCo. Head of Research
Alma Media
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Alma Media has carried out a considerable transition as the business focus has shifted to high-profitability digital businesses that form good two-thirds of the company’s revenue. Due to growing digital businesses and recent acquisitions, we believe the company has a good earnings growth outlook for the next few years. The return expectation consisting of earnings growth and dividend rises to a good level despite the downside in short-term valuation multiples.

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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 Figures27.05.2021

202021e22e
Revenue230.2253.1273.6
growth-%-8.0 %10.0 %8.1 %
EBIT (adj.)45.556.668.5
EBIT-% (adj.)19.7 %22.4 %25.0 %
EPS (adj.)0.360.530.64
Dividend0.300.320.35
Dividend %3.4 %2.4 %2.6 %
P/E (adj.)24.625.721.0
EV/EBITDA12.819.416.1

Forum discussions

Alma Media Osakkeenomistajat Ilmarinen was revealed to be the seller of the Otava stake (950,000 shares).
3/2/2026, 2:59 PM
by Harvasepäivä
5
Interesting. I wonder if this is good or bad news for the retail investor? So Otava wants to keep Alma listed after all?
2/24/2026, 5:56 PM
by Camelman
1
More block trades coming up. Who is the seller in these trades? Ilkka? Otava Ltd increases its ownership in Alma Media Corporation - Otava Group
2/24/2026, 2:20 PM
by Roni
7
Yet another large block trade. Major shareholders are moving their holdings around… A block trade worth 1.7 million euros was executed in Alma...
2/18/2026, 9:44 PM
by Lenheeti
8
According to the latest shareholder list, Heikki Herlin’s Mariatorp holds a 19.03% stake. If that decreases, it will become significant and ...
2/15/2026, 8:29 AM
by Camelman
3
Ilkka also seems to have a good 10% of Alma, and in this originally Ostrobothnian company, the situation is at a stalemate. In other words, ...
2/13/2026, 6:54 PM
by PörssiPatruuna
4
What are people’s views on Otava’s longer-term strategy? Do they intend to gradually acquire the whole of Alma for themselves?
2/13/2026, 2:26 PM
by dan.naumov
4
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