Finnish Portal Operator Alma Media Sees Housing Classifieds Revenue Grow 11% in 2022

The Finnish media company Alma Media (operator of leading Finnish real estate marketplaces Etuovi and Vuokraovi)  has released its results for Q4 of the 2022 financial year.

Relevant highlights of the company's performance include:

• Revenue from the company's housing portals (Etuovi and Vuokraovi) was up 4.8% on a quarterly basis at €4.5m and 11.5% on a yearly basis at €18.2m.
• Adjusted operating profit from the company's housing portals (Etuovi and Vuokraovi) was up 9.8% on a quarterly basis at €1.7m and 6.2% on a yearly basis at €8.4m.
• Company-wide revenue was up 1% on a quarterly year-on-year basis at €78.7m and up 12% over the whole year (€309m) on 2021's figure.

In addition to Finland's leading real estate portals, Alma Media operates many popular media titles both online and offline as well as autos marketplaces Nettiauto, Autotalli.com and Nettimoto. Revenue in the company's autos and mobility verticals was flat for Q4 and up 8.4% at €7.6m for the entire year.

According to the company report, the sales portal Etuovi had a positive Q4 despite a 22% drop in searches with 10.6% more active listings over the period. As for rentals, new listings increased by 3.2% with searches on par with the previous year.

Reflecting on the performance, Alma Media CEO, Kai Telanne said:

"In the housing business area, revenue increased by 4.8% in the fourth quarter in spite of the difficult market conditions. The growth was influenced by the growth of classified advertising in the Etuovi.com service."

In Finnish classifieds, Alma Media competes with the popular Schibsted-owned Okoitie horizontal site.