contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Co. Head of Research

Petri Gostowski

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.

Today marks the biggest trading day of the year. The two largest trades were 23321 units at a price of 12.63€/unit and 98157 units at a price of 12.75€/unit. These trades occurred near the current lows of a peculiar downward trend…

Alma’s CFO, Taru Lehtinen, was talking about her company at the Investor 2025 event.                    Inderes              Alma Media sijoituskohteena | Sijoittaja 2025 - Inderes    Aika: 27.11.2025 klo 13.23 Alma Median talousjohtaja Taru Lehtinen avaa yhtiön liiketoimintaa Sijoittaja 2025 -tapahtumassa.

Petri has made a new company report on Alma after Q3.  Alma Media’s Q3 figures slightly missed our elevated forecasts, which had risen due to the recent guidance upgrade. There were no surprises behind this, and the slightly softer earnings growth than we expected was a result of several factors. Consequently, our forecasted earnings growth outlook, based on a more favorable market situation in the coming years, has largely remained unchanged, and the forecast changes we made were marginal. We therefore reiterate our ‘reduce’ recommendation for Alma Media’s stock, which we consider fairly priced, and our target price of 15.5 euros. Alma Media’s CEO’s Q3 interview can be viewed from this link. https://www.inderes.fi/research/alma-media-q325-odotamme-tuloskasvun-kiihtyvan-lahivuosina

Kai Telanne was interviewed by Petri after the Q3 earnings release.                   Inderes              Alma Media Q3'25: Kiihtyvällä tahdilla kohti taloudellisia tavoitteita - Inderes    Aika: 31.10.2025 klo 14.36 Alma Media nosti ohjeistustaan kolmannen kvartaalin aikana vaikkei markkinatilanteessa ole vielä näyttänyt selvempiä merkkejä piristymisestä. Lisäksi yhtiö hakee hyvän kassavirran ja taloudellisen aseman mahdollistamana...                             Topics: 00:00 Introduction  00:10 Development in Q3  01:05 Guidance raise  05:14 OviPro  07:49 Financial targets  09:11 Acquisitions

Yep, the valuation is tight, and the analyst also states that the high bar was not met… However, it’s easy to hold onto Alma’s shares when they were acquired via the so-called ‘kaniini’ (rabbit), i.e., through Ilkka. Alma has about €5.25 worth in Ilkka’s shares (yesterday’s price for II-series shares was about €4.0). On the other hand, if one considers that the Finnish economy, where Alma has many businesses, has developed quite weakly. One COULD imagine that Alma’s businesses – even though they have developed and performed well – will get new momentum to the next level if/when this struggle leads to a growth path. On the other hand, there would be areas in this company to scale if some company were interested in buying, for example, the whole company or a piece of it.  Thumbs up to Telanne & team, a truly great case for industrial engineering and business school courses on transformation – before it was forced, when markets began to be built.                   Inderes              Alma Media Q3’25 -pikakommentti: Tulosvaroituksen jälkeen noussut ennusterima...    Alma Media raportoi aamulla Q3-tuloksensa, joka jäi lievästi tuoreen ohjeistuksen noston seurauksena nousseista ennusteistamme.

Good result! But are market expectations still a bit too high, causing a small dip in the share price?            almamedia.fi              Alma-Media-osavuosikatsaus-Q3-2025.pdf    611.84 KB                            “The adoption of artificial intelligence is accelerating”. So when this is noticed, the share price goes up?                   Tärkeimmät talousuutiset | Kauppalehti – 31 Oct 25              Alma Medialta odotettu hyvä tulos    Alma Median tulos oli odotetun hyvä. Oikaistu liikevoitto jäi analyytikoiden päivitetyistä odotuksista, mutta osakekohtainen tulos osui ennusteisiin.

Here are Petri’s preliminary comments as Alma publishes its Q3 results on Friday.   We forecast a slightly better operating profit for Q3 compared to the reference period, thanks to the company’s revenue growth and impressive cost efficiency. The company updated its guidance for the current year quite recently (our comments can be read here), and in connection with the results, we are particularly interested in the drivers of the guidance change.                   Inderes              Alma Media Q3’25 -ennakko: Ennustamme ennätystehtailun jatkuneen...    Alma Media julkistaa Q3-raporttinsa perjantaina noin klo 8.00.

Alma Media

The overall picture of Alma Media’s Q1 report was quite neutral, as the Q1 figures were well in line with our expectations and the 2024 guidance was also repeated as we expected. Considering this, we made no substantial changes to our forecasts for this or the coming years. In the short term, the company suffers from the slow market, but the company's flexible cost structure allows it to defend its earnings level until growth picks up.

<p>The overall picture of Alma Media&rsquo;s Q1 report was quite neutral, as the Q1 figures were well in line with our expectations and the 2024 guidance was also repeated as we expected. Considering this, we made no substantial changes to our forecasts for this or the coming years. In the short term, the company suffers from the slow market, but the company's flexible cost structure allows it to defend its earnings level until growth picks up.</p>

	2023	24e	25e
Revenue	304.9	307.4	313.0
growth-%	-1.3 %	0.8 %	1.8 %
EBIT (adj.)	73.6	72.2	74.7
EBIT-% (adj.)	24.1 %	23.5 %	23.9 %
EPS (adj.)	0.66	0.63	0.65
Dividend	0.45	0.46	0.47
Dividend %	4.7 %	3.5 %	3.6 %
P/E (adj.)	14.6	20.8	20.0
EV/EBITDA	10.2	13.9	13.0

Steady pace even in headwind

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Key Estimate Figures20.04.2024

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