Alma Media Sees 17% Revenue Boost for Finnish Real Estate Portals

The Finnish media company Alma Media (operator of leading Finnish real estate marketplaces Etuovi and Vuokraovi)  has released its results for Q3 of the 2022 financial year.

Relevant highlights of the company's performance for the three months ended September 30th include:

• Revenue from the company's housing marketplaces increased 17.2% year-on-year to €4.8m
• Active sales listings were 4.8% higher than the comparable period in 2021
• Overall company revenue was up 10% to €74.5m while company operating profit was up 11% at €19.3m

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.

Alma Media's two real estate marketplaces Etuovi (sales and rentals) and Vuokraovi (rentals) contributed €4.8m in revenue over the quarter despite a reported 7% drop in sales searches on Etuovi. The volume of active sales listings was up 4.8% on 2021 while rental listings saw a 5.3% decline.

Real estate remained the most profitable vertical for Alma Media's 'Consumer' segment contributing €2.5m compared to €2.0m from its autos verticals and €0.8 from its comparison services.