Alma Media Releases HY Results Showing Strong Recovery

Alma Media, the parent company of Etuovi.com, Vuokraovi.com, and the travel portal Gofinland.fi, has released its financial performance for the half-year ended June 2021. 

After a year of uncertainty and dipping numbers due to the pandemic, performance is back up for 2021’s half-year review. Revenue MEUR is up 13.3%, adjusted operating profit MEUR is up 31.8%, and operating profit MEUR is up 24.2%. All numbers pointing to a resilient market and company recovery. 

The company reported that between April and June 2021, Revenue MEUR was up 36.1%, the share revenue represented by digital business was up 67.3%, adjusted operating profit MEUR was up 69.2%, and operating profit MEUR was up 87%. 

Speaking on the numbers, President and CEO, Kai Telanne, equated the recovery to the adoption of new technology developed during the scramble to make up for down businesses due to lockdown procedures in 2020. 

“The digitalization of services and the ecosystems they create is expected to accelerate further in the next few years, and sales and purchases will continue to move to digital marketplaces. Consequently, the structural transformation of the media sector is expected to continue and strengthen further. Data, analytics, machine learning and automation will become increasingly important, which calls for increasing investments in technology.

“The performance of Alma Media’s businesses was excellent as the economy continued to recover. Organic growth in the second quarter was 24%. Acquisitions also increased Alma Media’s revenue and adjusted operating profit in April–June. Our relative profitability was at a record high of 23%.”

When it comes to Alma’s consumer segment’s revenue growth, between April and June, numbers improved thanks to various acquisitions. Housing and automotive marketplaces saw a boost in demand during that time, as well. 

The company is continuing its integration with Netflix, part of the company’s acquisition spree which totaled in MEUR 241. 

Telanne said:

“We have already turned our attention to the post-pandemic period and we are continuing to operate under a flexible multi-local work model. The period of the COVID-19 pandemic has shown that Alma Media employees are adaptable, flexible, and prepared to work towards common goals. We will take advantage of the lessons we have learned as we enter the new normal.”

Alma isn't alone in recovering from the COVID crisis. Adevinta also showed resilience with its recent financial report, with revenue up 32% for its second quarter, year-over-year.