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2016-10-28

Alma Media: Alma Media's Interim Report January-September 2016:Revenue and operating profit grew as expected in the third quarter

Alma Media Corporation Interim Report 28 October 2016 at 9:00 a.m. (EEST)

Alma Media's Interim Report January-September 2016:

REVENUE AND OPERATING PROFIT GREW AS EXPECTED IN THE THIRD QUARTER

Financial performance July-September 2016:

· Revenue MEUR 80.9 (68.0), up 18.9%.
· Adjusted operating profit MEUR 9.1 (7.6), or 11.2% (11.1%) of
revenue, up 20.1%.

· Operating profit MEUR 8.9 (6.0), or 11.0% (8.8%) of revenue, up
48.1%.

· Earnings per share EUR 0.07 (0.04).
· Alma Markets: Strong growth continued internationally as well as
in Finland.

· Alma Talent: Profitability was unchanged year-on-year, in line
with expectations.

· Alma News & Life: Online advertising grew, particularly due to an
increase in programmatic buying.

· Alma Regions: Profitability declined year-on-year.
Financial performance January-September 2016:

· Revenue MEUR 259.6 (212.9), up 21.9%.
· Adjusted operating profit MEUR 24.5 (16.3), or 9.4% (7.6%) of
revenue, up 50.6%.

· Operating profit MEUR 20.5 (16.8), or 7.9% (7.9%) of revenue, up
22.2%.

· Earnings per share EUR 0.15 (0.13).
· At the end of the period, the gearing ratio was 51.0% and the
equity ratio 44.1%.

KEY FIGURES 2016 2015 Change 2016 2015 Change 2015
MEUR Q3 Q3 % Q1-Q3 Q1-Q3 % Q1-Q4
Revenue 80.9 68.0 18.9 259.6 212.9 21.9 291.5
Content revenue 30.1 25.3 18.8 95.1 75.4 26.0 104.1
Content revenue, 26.4 23.8 10.9 84.3 70.8 19.1 97.0
print
Content revenue, 3.7 1.6 139.4 10.8 4.7 128.5 7.1
online
Advertising
revenue 38.8 33.4 15.9 125.1 107.3 16.5 148.2
Advertising 14.8 14.0 5.5 50.6 48.6 4.3 66.2
revenue, print
Advertising 24.0 19.4 23.7 74.6 58.8 26.9 82.0
revenue, online
Service revenue 12.1 9.3 30.2 39.5 30.2 30.8 39.2
Adjusted total 72.0 60.6 18.8 235.6 197.0 19.6 268.7
expenses
Adjusted EBITDA 13.6 11.0 23.8 38.0 26.6 42.9 37.4
EBITDA 13.4 10.8 23.7 33.9 28.4 19.3 34.5
Adjusted
operating profit 9.1 7.6 20.1 24.5 16.3 50.6 23.4
% of revenue 11.2 11.1 9.4 7.6 8.0
Operating profit 8.9 6.0 48.1 20.5 16.8 22.2 17.7
(loss)
% of revenue 11.0 8.8 7.9 7.9 6.1
Profit for the
period 6.5 3.7 77.9 15.0 11.8 27.1 12.1
Earnings per
share, 0.07 0.04 62.9 0.15 0.13 9.2 0.13
EUR (undiluted and
basic)

Online sales 32.3 24.5 31.7 97.7 74.8 30.6 104.2
Online sales, % of40.0 36.1 37.6 35.1 35.7
revenue

Outlook for 2016

Alma Media revised its outlook for 2016 in a release published on 14
September 2016. In 2016, the company expects its full-year revenue
and adjusted operating profit to increase clearly from the 2015
level. Outlook for 2016 according to the release published on 14
September 2016:

The Finnish economy is expected to show zero growth or only slight
growth in 2016. Alma Media's main operating countries in Eastern
Central Europe, such as the Czech Republic and Slovakia, are expected
to see continued economic growth, but at a lower rate than in 2015.

Macroeconomic development affects both consumer demand and advertising
volume. The structural transformation of advertising will continue in
2016; online advertising will grow, while print media advertising
will decline.

The Talentum acquisition completed in late 2015 will increase Alma
Media's revenue and operating profit in 2016.

In 2016, Alma Media expects its full-year revenue and adjusted
operating profit to increase clearly from the 2015 level. The
full-year revenue for 2015 was MEUR 291.5, and the adjusted operating
profit was MEUR 23.4.

Kai Telanne, President and CEO:

The positive development of Alma Media's business continued in the
third quarter. The Group's revenue grew by 19 per cent in
July-September and totalled MEUR 80.9. As in the preceding quarters,
the improved operating profit was attributable to the strong growth
of Alma Markets and Alma News & Life. Adjusted operating profit grew
by 20 per cent to MEUR 9.1.

Continued favourable economic growth in Alma Media's operating
countries in Central Europe supported the positive development of
Alma Markets' recruitment business. The segment's revenue also grew
in Finland in housing, automotive and recruitment services. Alma
Markets' third quarter revenue grew by 17 per cent and operating
profit improved by 28 per cent.

Alma Talent's profitability was unchanged year-on-year, as expected.
Revenue development reflected the seasonality of the businesses
acquired in the Talentum acquisition. The process of building the new
business entity progressed as planned and the cost synergies achieved
from integration were in line with expectations. In September, Alma
Talent's diverse media portfolio was complemented by the acquisition
of Uusi Suomi.

The continued strong growth of online advertising and the shift to
programmatic buying in digital advertising were clearly reflected in
the performance of the Alma News & Life segment. The segment's
digital advertising sales grew by nearly 40 per cent. The unit's
adjusted operating profit tripled year-on-year and amounted to MEUR
1.8.

For Alma Regions, the third quarter was a difficult one in terms of
both content revenue and advertising sales, which saw the segment's
revenue and profitability decline year-on-year. Measures to promote
customers' shift to digital are continuing.

Digital business now accounts for 40 per cent of the Group's revenue
and two thirds of its operating profit. The shift from analog to
digital has accelerated further this year, with customer needs and
the user experience guiding development. Examples of Alma Media's
digital development during the reporting period include a
comprehensive renewal of the digital advertising distribution system
and our key role in establishing the Automated Guaranteed digital
advertising marketplace for Finnish media companies.

From the perspective of commercial media, the Finnish Ministry of
Transport and Communications' plan for reforming the Postal Act are
problematic in many ways. The planned reform does not serve the
interests of the individual consumer, the end customer. The
legislative proposal is, in our view, also contrary to the EU Postal
Services Directive. Posti shifting to making deliveries on three days
per week would have a negative impact on the delivery of
subscription-based magazines, national newspapers, regional
newspapers and local papers. Daily postal delivery can be seen as
being part of the basic services for citizens, and reducing this
service level would affect the citizen's constitutional right of
access to information. In Alma Media's view, delivery operations in
accordance with the service obligation must be produced more
efficiently through measures such as combining delivery networks and
outsourcing delivery services.

Finnish enterprises need world-class marketing expertise to achieve
success in highly competitive and increasingly international markets.
Marketing is one of the engines of growth. Together with many other
industry operators, Alma has distributed information on the
effectiveness of marketing and its significance in achieving
financial success. The Advertising Barometer published in September
predicts that marketing investments will increase after several
subdued years. It will be interesting to see whether businesses have
the courage to turn their intentions into concrete actions.
Increasing marketing investments would be an important means to
increase the competitiveness of Finnish enterprises and the country
as a whole.

For more information, please contact:
Kai Telanne, President and CEO, telephone +358 10 665 3500
Juha Nuutinen, CFO, telephone +358 10 665 3873

Conference, webcast and conference call:

A conference for Finnish media, investors and analysts will be held on
the same day at 11.00-12.00 EEST in the Alma House (address: Alvar
Aallon katu 3 C, Helsinki). In addition to the presentations held by
President & CEO Kai Telanne and CFO Juha Nuutinen, participants will
have an opportunity to discuss with other members of the company's
management. Please note that the conference will be held in Finnish.
The presentation material in English will be available on
www.almamedia.fi/en/investors/reports-and-presentations/presentations
at 11.00 EEST.

To participate in the conference, kindly register beforehand by
e-mail, kutsut@almamedia.fi.

An international conference call and audio webcast concerning the
financial result of January-September 2016 will begin at 13.00 EEST.
You can participate in the conference by calling +44(0)20 7136 2050
(confirmation code: 2070711) or follow it at
http://www.almamedia.fi/en/investors/reports-and-presentations/presentat....

Alma Media's financial calendar 2017

Alma Media will publish financial reports in 2017 as follows:

- Financial Statement Bulletin for financial year 2016 on Friday, 10
February at approximately 9:00 EET

- Interim report for January-March 2017 on Friday, 28 April at
approximately 9:00 EEST

- Interim report for January-June 2017 on Friday, 21 July at
approximately 9:00 EEST

- Interim report for January-September 2017 on Friday, 27 October at
approximately 9:00 EEST

Board of Directors

Distribution: NASDAQ Helsinki, main media, www.almamedia.com

Alma Media in brief

Alma Media is a media company focusing on the service business and
journalistic content. The company's best-known brands are
Kauppalehti, Talouselämä, Affärsvärlden, Uusi Suomi, Iltalehti,
Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable
growth for its customers by utilising the opportunities of
digitality, including information services, system and expert
services and advertising solutions. Alma Media's operations have
expanded from Finland to the Nordic countries, the Baltics and
Central Europe. Alma Media employs approximately 2,500 professionals
(excluding delivery personnel), of whom approximately 30% work
outside Finland. Alma Media's revenue in 2015 was EUR 291.5 million.
Alma Media's share is listed on NASDAQ Helsinki. Read more at
www.almamedia.com.

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