Brief: Sanoma Expects Media Finland's Earnings To Decline By Third In 2023

Sanoma Oyj

04/05/2023 06:56

May 4 (Reuters) - Sanoma Oyj  SANOMA.HE :
    * REG-SANOMA CORPORATION, INTERIM REPORT JANUARY–MARCH 2023:
NET
SALES GREW, INFLATION AND INCREASED SEASONALITY LOWERED
OPERATIONAL EBIT
    * IN 2023, SANOMA EXPECTS THAT GROUP'S REPORTED NET SALES
WILL BE
EUR 1.35‒1.4 BILLION (2022: 1.3)
    * 2023 GROUP'S OPERATIONAL EBIT EXCLUDING. PPA IS EXPECTED
TO BE
EUR 150−180 MILLION (2022: 189).
    * WE HAVE IMPLEMENTED INCREASES IN OUR SELLING PRICES THAT
WILL
HAVE BIGGEST POSITIVE IMPACT FROM Q3 ONWARDS
    * IT WILL TAKE 1−2 YEARS BEFORE IMPACT OF HIGH INFLATION
WILL BE
FULLY TRANSFERRED INTO PRICES
    * EXPECT MEDIA FINLAND'S OPERATIONAL EARNINGS TO DECLINE BY
ONE
THIRD COMPARED TO FULL-YEAR 2022
    * FOR FULL-YEAR 2023, WE EXPECT GROUP'S FREE CASH FLOW TO
TEMPORARILY DECLINE
    * OUR OUTLOOK FOR 2023 REMAINS UNCHANGED.

Source text for Eikon:  ID:nGNE2Mfw9z 
Further company coverage:  SANOMA.HE 

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