Alma Media Q3 2026: Marketplaces Profit Up 30% to €12.8m as Outlook Rises

Alma Media, owner of Finnish property portals Etuovi.com and Vuokraovi.com, has reported third-quarter results and raised its revenue outlook for 2026. Its Alma Marketplaces segment lifted adjusted operating profit 30% to €12.8 million, and real estate revenue rose 16% even though the company's own traffic and listings figures were flat.

Highlights from Alma Media's interim report for the three months to 30 September 2026 include:

• Group revenue of €84.2 million, up 6.3%
• Adjusted operating profit of €26.3 million, up 15.8%, a margin of 31.2%
• Alma Marketplaces revenue of €32.3 million, up 12.9%
• Alma Marketplaces adjusted operating profit of €12.8 million, up 30.4%, a margin of 39.7% against 34.4%
• Real estate revenue of €12.7 million, up 15.9%, or 14.4% organically
• Real estate marketplace visitors of 999,000 a month, down 0.2%, and average listings of 240,000, down 0.7%
• Full-year revenue now expected to grow, after previously being expected to stay at the 2025 level

President and CEO Kai Telanne said in his review: "Alma Marketplaces continued its strong performance across businesses."

The real estate growth came from selling more to the same audience. Alma says visitors to its real estate marketplaces fell 0.2% and average listings fell 0.7%. Over the same three months, the Confederation of Real Estate Agencies in Finland counted 13,269 residential transactions, down 13.9%. Real estate revenue still grew 15.9%. Classified revenue in the unit rose 11.0%, helped by Sweden, and Alma pointed to demand for its Real Estate Insights data services and growth at DIAS, its digital housing transaction platform.

That is a sharp change in the traffic numbers since Q2, when Alma reported real estate visitors up 9.2% and listings up 3.9%. Revenue growth, at 14.8% in Q2, held up and slightly improved.

Adjusted expenses at Alma Marketplaces rose 4.0% to €19.5 million while revenue grew 12.9%, and the company credits acquisition synergies and restructuring. The 39.7% margin is the segment's highest in the five quarters the report breaks out, up from 34.6% in Q2 and 28.8% in Q4 2025. Excluding acquired businesses, segment revenue grew 10.2%.

The group outlook moved in the same direction. In August Alma expected 2026 revenue to stay at the 2025 level of €327.1 million. It now expects revenue to grow, with adjusted operating profit also still forecast to rise from €82.1 million. The company says the outlook does not assume a material improvement in market conditions.

Alma also bought KTI Kiinteistötieto, a property market data provider with revenue of about €3 million in 2025, on 28 October. It will be reported in Alma Marketplaces from November. With traffic and listings flat and Finnish transactions down 13.9%, Alma's real estate growth now rests on pricing and services, and KTI adds to the services side.