Brief: Sanoma Increases Its Long-Term Financial Targets For Profitability Of Sanoma Learning And Leverage Of Group

Sanoma Oyj

08/12/2020 07:02

Dec 8 (Reuters) - Sanoma Oyj  SAA1V.HE :
    * REG-SANOMA INCREASES ITS LONG-TERM FINANCIAL TARGETS FOR
PROFITABILITY OF SANOMA LEARNING AND LEVERAGE OF THE GROUP
    * PROFITABILITY TARGET OF SANOMA LEARNING WILL BE INCREASED
TO AN
OPERATIONAL EBIT MARGIN EXCLUDING. PPA OF 'ABOVE 23%' (PREVIOUS:
20-22%)
    * GROUP'S LEVERAGE TARGET (NET DEBT / ADJUSTED EBITDA) WILL
BE
INCREASED TO 'BELOW 3.0' (PREVIOUS: BELOW 2.5)
    * ESTIMATED POSITIVE PROFITABILITY IMPACT OF ACQUISITION OF
SANTILLANA SPAIN.
    * ACQUISITION IS EXPECTED TO BE FINALISED LATEST EARLY 2021
COMPARED TO EARLIER ESTIMATE OF DURING H1 2021.
    * INCREASED LEVERAGE TARGET, TOGETHER WITH GROUP'S ABILITY
TO
GENERATE A POSITIVE CASH FLOW, ALLOW SANOMA A EUR 300-400
MILLION M&A HEADROOM BY 2022

Source text for Eikon:  ID:nGNE971740 
Further company coverage:  SAA1V.HE 

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