Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record profitability for the company.
Alma Media owns and operates the market-leading Etuovi real estate portal as well as the Vuokraovi rentals portal in Finland as well as several other job and car classifieds brands in Finland and in Central Europe. The only serious competitor in the country is the Schibsted-owned dual jobs and real estate marketplace Oikotie.
According to a company report, the housing market in Finland is experiencing strong growth which is being reflected in the increased revenue being generated by Alma Media's housing marketplaces in its Consumer division.
Like most in the industry, Alma Media is looking to move from a dominant position in real estate marketing towards the transaction and towards facilitating more consumer needs around housing.
"One key element of the Group’s strategy is the continued expansion from content generation and advertising in media and marketplaces towards new digital products and services that address customer needs and cover the entire value chain, ranging from sales systems to transactions. At the same time, the company will establish partnerships to participate in broad and seamless digital service ecosystems in the recruitment, housing and automotive verticals"
The company expects its revenues and operating profit to increase significantly on the numbers achieved in a Covid-hit 2020 (€230.2 million and €45.4 million respectively). At the start of trading this morning, shares in Alma Media were trading at an all-time high of €12.60 on the Nordic NASDAQ.