Alma Media Oyj · OMXHEX:ALMA
Alma Media Oyj — Q3 2026 Earnings Presentation
48 slides from Alma Media Oyj's earnings presentation, Oct 29, 2026
Slide 1: IR Presentation Post Q3 2026
IR Presentation Post Q3 2026
Slide 2: Alma in Figures (FY 2025)
Alma in Figures (FY 2025) Adj. operating Revenue 327 Digital business profit 1649 MEUR 86% 82 Professionals MEUR ROE ROI Adj. operating profit % 10 40 / 60 23% 15% 25% European countries Abroad / in Finland % of employees Alma’s media Dividend of TSR Equity ratio 100+ reach about 58% 0.48 c.594% Dig
Slide 3: Q3 2026 Highlights
Q3 2026 Revenue increased by 6.3% and adjusted operating Highlights profit improved by 15.8% in Q3 ADJUSTED OPERATING PROFIT (MEUR) REVENUE (MEUR) (% OF REVENUE) +6.3% +15.8% 50 31.2% 35 84.2 29.1% 28.6% 79.3 30 75.2 40 25 30 26.3 20 21.9 22.7 20 15 10 10 5 0 0 Q3 2024 Q3 2025 Q3 2026 Q3 2024 Q3 202
Slide 4: Profitability improved further across all segments
Q3 2026 Profitability improved further across all segments Highlights ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +15.8% +6.3% 35 35 31.2% 29.1% 28.6% 79.3 84.2 30 26.3 30 75.2 25 21.9 22.7 25 20 20 15 15 10 10 5 5 0 0 Q3 2024 Q3 2025 Q3 2026 Q3 2024 Q3 2025 Q3 2026 • Alma Media d
Slide 5: Alma Career: Building one recruitment platform across CEE
Alma Career: Building one recruitment platform across CEE Leading job boards, complemented by recruitment advertising, employer branding, career development and digital HR services. Scale and a diversified offering create opportunities to serve customers across the full talent lifecycle. Revenue Q3
Slide 6: Alma Marketplaces: Moving deeper into the transaction value chain
Alma Marketplaces: Moving deeper into the transaction value chain Market-leading services, customer relationships, proprietary data and transaction flows create a self-reinforcing growth ecosystem. Revenue Adj. EBIT Margin Digital services Market position Q3 2026 Q3 2026 (e.g. Insights and system so
Slide 7: Alma News Media: Scaling trusted content and direct audience relationships
Alma News Media: Scaling trusted content and direct audience relationships Trusted content and direct audience relationships generate proprietary data that strengthens subscriptions, advertising and personalisation. Revenue Digital Adj. EBIT Margin Alma Account Q3 2026 subscriptions Q3 2026 users SE
Slide 8: Strong market positions and leading brands in key areas
Strong market positions and leading brands in key areas RECRUITING #1 Czech Republic jobs.cz, prace.cz #1 Slovakia profesia.sk #1 Croatia mojposao.hr #2 Finland jobly.fi 1 #1-3 Estonia, Latvia, cvonline.com Lithuania 1 #1 Bosnia and Herzegovina, mojposao.ba, 1 Macedonia, Serbia vrabotuvanje.com.mk,
Slide 9: Alma Media’s long-term financial targets
Alma Media’s long-term financial targets* REVENUE GROWTH (%) ADJUSTED OPERATING PROFIT (%)* NET DEBT/EBITDA RATIO* >5.0% >30% <2.5x 12.1 >30% 27.1 24.6 25.1 <2.5x 23.8 24.1 >5% 1.6 1.6 5.2 1.5 4.6 1.3 1.0 2.5 -1.2 2022 2023 2024 2025 Q3 2026 2022 2023 2024 2025 Q3 2026 2022 2023 2024 2025 Q3 2026 LT
Slide 10: Strategy and Outlook
STRATEGY AND OUTLOOK
Slide 11: Alma Media’s transformational journey
Alma Media’s transformational journey Exploiting paradigm changes in technology and consumer behaviour 2020 → Integrating platforms 2000–2020 Strengthening our position across value Digital business chains. AI and data at the heart of innovation. Accelerating growth through Pre-2000s Active portfoli
Slide 12: Strategy: Transform, Grow, Scale
Strategy Synergies 1 TRANSFORM • Streamline customer processes by integrating services to platforms Advanced • Increase operational agility and accelerate time-to-market MARKETPLACES • Advance customer-centric, product-led Intelligent development with AI Shared INSIGHTS AUDIENCES 2 GROW DATA TECHNOL
Slide 13: Strategy Q3 Highlights
Strategy 1 2 3 TRANSFORM GROW SCALE Q3 Highlights • AI moved towards workflow- • AI-enabled customer solutions • Shared platforms advanced across integrated solutions. expanded across businesses. Career and Real Estate. • Czech cloud migration completed; • Real Estate ecosystem and digital • AI capa
Slide 14: Turning proprietary data and AI into customer value and growth
Turning proprietary data and AI into customer value and growth Unique data, trusted brands and domain expertise become more valuable with AI. Alma's market, audience and transaction data create advantages that generic AI models cannot easily replicate. Embedded platforms deepen customer engagement a
Slide 15: Extending customer value from discovery to transactions
Extending customer value from discovery to transactions Expanding the addressable market and creating new revenue streams B U Y E R S SEARCH EVALUATE NEGOTIATE OWNERSHIP & & & & PROVIDE MARKET CLOSE CRM SELLERS, B2B PARTNERS ADVERTISING TRANSACTIONS We are strengthening and We support our partners i
Slide 16: Alma’s value creation engine
Alma’s value creation engine A self-reinforcing combination of market-leading platforms, trusted relationships, proprietary data and AI 1 2 3 4 5 TURN DATA AND AI COMPOUND VALUE GROW CORE INTO CUSTOMER THROUGH SCALE CAREER BUILD HIGHER- VALUE MARKETPLACES DISCIPLINED Deepen monetisation ACROSS CEE V
Slide 17: Solid Financial Position
SOLID FINANCIAL POSITION
Slide 18: Balanced financial position
Balanced financial position NET DEBT (MEUR), GEARING (%) & EQUITY RATIO (%) Q3/2023 – Q3/2026 INTEREST-BEARING NET DEBT, MEUR 7-9/2026 7-9/2025 400 120 100 Interest-bearing long-term liabilities 131.4 161.6 350 300 80 IFRS16 lease liabilities 21.4 26.6 73% 70% 60% 60 250 49% 55% Loans from financial
Slide 19: Strong financial position underpins growth ambitions
Strong financial position underpins growth ambitions Total assets, 30.9.2026 Net debt, 2026 7-9 Equity ratio, 30.9.2026 529.8 MEUR 105.1 MEUR 54.9% vs 538.3 MEUR 30.9.2025 vs 144.8 MEUR 2025 7-9 vs 49.1 % 30.9.2025 Gearing, 30.9.2026 Operating cash flow, 2026 7-9 Return on equity (ROE), 2026 7-9 40.
Slide 20: Outlook for 2026
Outlook for 2026 Announced on 29 October 2026 Background for the outlook The positive business development in the first nine months of the year is expected to continue and support revenue growth for the full year. The outlook does not assume a Alma Media expects its full-year material improvement in
Slide 21: Alma as an investment case
Alma as an investment case • A successful digital transformation has created a balanced portfolio of market-leading businesses, trusted brands and scalable digital platforms. • Alma Career provides an international growth platform across CEE, combining local market leadership with shared products, t
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Slide 23: Appendix
Appendix 29.10.2026 23
Slide 24: FY2025 Highlights
FY2025 Digital business and portfolio development driving Highlights profitable growth ADJUSTED OPERATING PROFIT REVENUE (MEUR) (MEUR) (% OF REVENUE) +4.6% 120 +6.8% 30 327.1 24.1% 24.6% 25.1% 304.9 312.7 100 25 82.1 76.9 80 73.6 20 60 15 40 10 20 5 0 0 2023 2024 2025 2023 2024 2025 • Solid performa
Slide 25: Business segments
Business segments Q3 2026 ALMA CAREER ALMA MARKETPLACES ALMA NEWS MEDIA Vesa-Pekka Kirsi Santtu Elsinen Juha-Petri Loimovuori Leading job boards in eight CEE Leading marketplaces in real Prominent digital news media countries. Recruitment estate, mobility and business company in Finland. Pioneer in
Slide 26: Alma Career: Revenue up 5.7%, adjusted operating profit up 5.5%
Alma Career: Revenue up 5.7% and adjusted operating profit up by 5.5%, driven by strong performance in the Czech market SEGMENT REVENUE BY REVENUE CLASSES REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 55 55 27.7 50 50 -0.1 42.3% 42.
Slide 27: Invoicing & revenue recognition in Alma Career
Invoicing & revenue recognition in Alma Career, rolling 12 months Revenue Invoicing 10 000 9 500 9,234 9 000 9,085 8 500 8 000 7 876 7 500 7 000 6 847 6 500 6 000 10/21 01/22 04/22 07/22 10/22 01/23 04/23 07/23 10/23 01/24 04/24 07/24 10/24 01/25 04/25 07/25 10/25 01/26 04/26 07/26 KPIs (monthly ave
Slide 28: Alma Marketplaces: Revenue up 12.9%, adjusted operating profit up 30.4%
Alma Marketplaces: Revenue up 12.9% and adjusted operating profit up by 30.4%, with growth across all business units SEGMENT REVENUE BY REVENUE CLASSES REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 70 55 32.3 50 +0.9 +0.6 Digital se
Slide 29: Alma News Media: Revenue on par, adjusted operating profit up 6.3%
Alma News Media: Revenue on par, adjusted operating profit up 6.3%, with an 18.5% margin SEGMENT REVENUE BY DIGITAL/PRINT REVENUE AND ADJUSTED OPERATING PROFIT SEGMENT REVENUE CHANGE BY BUSINESS UNIT (MEUR) (REVENUE CHANGE IN BRACKETS) 60 55 24.6 +0.3 50 +0.1 -0.6 24.5 50 45 Digital 16.0 0.5 (3.2%)
Slide 30: Continuing the renewal of portfolio
Continuing the renewal of portfolio – investments to digital transformation and growth INVESTMENTS OF WITH A STRONG FOCUS ON DIGITAL BUSINESS AutoJerry Suomen Tukkuautot Alma Mediapartners (35%) Techloop Netello (40%) Toimitilat.fi Netwheels Edilex KTI Katsastushinnat.fi Etua.fi (40%) Kolektiv Netti
Slide 31: Digital transformation
Digital transformation 2026 Q3 REVENUE LTM MEUR 87% 400 Digital Print Others Digital rate 100% 90% 350 13 80% 32 300 23 70% 250 60% 200 50% 40% 150 247 295 30% 100 20% 50 10% 17 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Q3 LTM
Slide 32: Sustainability targets and results
Sustainability targets and results 32
Slide 33: Solid Financial Position
SOLID FINANCIAL POSITION
Slide 34: Cash flow
Cash flow OPERATING CASH FLOW Q3/2023 – Q3/2026 (MEUR) OPERATING CASH FLOW BRIDGE Q3/2025 YTD – Q3/2026 YTD 3.0 66.3 2.5 25 -3.2 3.6 21.5 21.8 0.4 7.4 -1.2 2.0 20 17.5 1.5 59.3 13.0 15 1.0 10 0.5 5 0.0 -0.5 0 Q3 2025 Adjusted Taxes paid Net Changes Other Q3 2026 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q
Slide 35: Investments
Investments CAPEX, LEASES, M&A Q3/2023 – Q3/2026 DEPRECTIATIONS Q3/2023 – Q3/2026 3.0 15 -0.5 2.5 -1.7 -1.6 -1.7 2.0 -1.5 10 -0.9 -1.2 -1.4 1.5 11.0 0.1 1.0 1.0 1.1 -1.5 5 -1.7 -1.6 -1.6 0.5 3.0 5.3 0.0 3.0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2.0 0.4 0 23 23 24 24 24 24 25 25 25 25 26 26 26 -0.5
Slide 36: Earnings per share
Earnings per share ROE & ROI (%) Q3/2023 – Q3/2026* EARNINGS PER SHARE Q3/2023 – Q3/2026 40 0.25 37.0% 35 34.4% 31.1% 32.3% 0.20 30 0.19 0.18 25 23.7% 20 19.0% 17.9% 18.5% 15 10 5 0 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 2
Slide 37: Versatile revenue sources, business cyclicity varies
Versatile revenue sources, business cyclicity varies Revenue source Share of revenue Highest cyclicity 17% Advertising 39% Classifieds 6% Other Digital services 22% Content sales 15% Lowest cyclicity Q2Q3 2026 2024 LTM Figures might not add to a 100% due to rounding 37
Slide 38: Total Shareholder Return 2016-2025
Total Shareholder Return 2016-2025 Total shareholder return 2016 - 2025, % Alma Media Includes dividends +594% OMXHGI +43% 30/12/2015 1/1/2016 30/12/2017 30/12/2019 30/12/2021 30/12/2023 30/12/2025 ALMA OMXHPI (norm vs ALMA) 38
Slide 39: Operating Environment
OPERATING ENVIRONMENT
Slide 40: Challenging operating environment
Challenging operating environment Lagging Changing Increasing Geopolitical economic growth consumer behaviour regulation turbulence Recovery signals on horizon, Expectations for easy, time- Complex regulatory The uncertainty surrounding but long-term structural saving, and safe digital environment a
Slide 41: Update on Finnish business confidence and consumer confidence
Update on Finnish business confidence and consumer confidence Business Confidence of Finnish Industries Consumer Confidence Manufacturing Construction Services Retail trade 30 10 25 20 5 15 10 5 0 0 -5 -10 -5 -15 -20 -10 -25 -30 -35 -15 -40 -45 -50 -20 07/20 01/23 01/19 07/19 01/20 07/20 01/21 07/21
Slide 42: GDP growth development in operating countries
GDP growth development in operating countries Finland Czech Republic Slovakia Croatia Sweden 14 6 4 2 0% -2 -4 -10 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2020 2021 2022 2023 2024 2025 2026E 2027E 2020 2021 2022 2023 2024 2025 2026E 2027E -2.4% 2.8% 1.3% -1.0% -0.1
Slide 43: Unemployment rate development in operating countries
Unemployment rate development in operating countries Finland Czech Republic Slovakia Croatia Sweden 18 16 14 12 10 8 6 4 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2020 2021 2022 2023 2024 2025 2026E 2027E 2020 2021 2022 2023 2024 2025 2026E 2027E 7.7% 7.7% 6.8% 7.
Slide 44: Inflation development in operating countries
Inflation development in operating countries Finland Czech Republic Slovakia Croatia Sweden 16 12 8 6 4 2 0% -2 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2020 2021 2022 2023 2024 2025 2026E 2027E 2020 2021 2022 2023 2024 2025 2026E 2027E 0.4% 2.1% 7.2% 4.3% 1.0% 1.8% 2.4%
Slide 45: The Finnish advertising market update
The Finnish advertising market update MONTHLY CHANGE IN MEDIA ADVERTISING 09/2025–09/2026 25% 15% 5% -5% -15% -25% -35% P9 25 P10 25 P11 25 P12 25 P1 26 P2 26 P3 26 P4 26 P5 26 P6 26 P7 26 P8 26 P9 26 Advertising sales total, chg % Newspaper advertising, chg % Online advertising, chg % 45
Slide 46: Housing market & marketplaces update
Housing market & marketplaces update HOUSING MARKET UPDATE (SOLD APARTMENTS) -15.6% 15 403 14 711 12 999 11 833 12 097 15,011 14,346 11,582 11,797 12,755 392 365 251 300 244 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Existing apartments Newly built apartments HOUSING MARKETPLACES: ACTIVE LISTINGS* & UNIQUE VISIT
Slide 47: Mobility market & marketplaces update
Mobility market & marketplaces update MOBILITY MARKET UPDATE* (SOLD CARS) -0.6% 194 096 192 993 169 381 174 016 160 723 177,410 154,320 173,320 151,680 143,837 16 686 17,701 16 886 19,696 19,673 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Used cars Newly registered cars MOBILITY MARKET ACTIVE LISTINGS** & UNIQUE
Slide 48: Ukrainian crisis
Ukrainian crisis • Russia’s aggressive invasion to Ukraine brought severe economic and business consequences: • Significantly higher energy prices and inflation • Lower economic growth in Europe • Increased volatility and insecurity • Disruptions in financial markets and supply chains due to sanctio