Finnish Portal Operator Alma Media Sees Q1 Impacted by Headwinds Blowing in From the East

April 21, 2023
Share this Post: 

The Finnish online classifieds operator Alma Media has announced its provisional results for Q1 of the 2023 financial year. Relevant highlights from the company's performance for the three months ended 31st of March include:

  • The Adjusted Operating Profit margin of Alma's 'Consumer' segment fell to 16.7% compared to 20.4% in 2022.
  • Revenue from the company's real estate portal assets was steady at €4.3 million.
  • Overall company revenue was flat at €75.2 with Operating Profit falling 13% to €17 million.

Alma Media owns and operates Finland's leading real estate portal Etuovi as well as the country's largest rentals marketplace Vuokraovi. The company also operates several leading online classifieds assets across its home market (autos marketplaces Nettiauto, and Alma Talent and in recruitment) as well as Eastern Europe (including in the Czech Republic and in Slovakia).

The company saw overall revenue remain flat compared to the comparison period while profits suffered a significant dip. An investor presentation chalked up the declining margins to increases in employee and product costs as well as general advertising headwinds in the markets Alma operates in.

Commenting on the company's performance, CEO Kai Telanne said:

"Russia’s invasion of Ukraine has slowed down economic growth in Alma Media’s operating countries: inflation has accelerated, market interest rates have risen, consumers’ confidence in their finances has declined substantially, and geopolitical tensions have increased. Alma Media’s financial development and performance have been strong despite these factors."

As for its real estate operations, the company managed to maintain revenues at 2022 levels (despite a marked decline in transaction volumes in Finland (as much as -43.6% in January).

In more rosy news for the company, Alma Media's long-term strategy to shift revenues online and towards transactions from its traditional print operations continues to make progress. The company is trying to foster broader cooperation between business segments to share knowledge and diversify revenue streams.

April 21, 2023
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Homesnap Closure
CoStar Group to 'Sunset' Homesnap in Favor of

CoStar is set to sunset Homesnap and replace it fully with the Group's in-house brand by the end of...

Read More
Powerleads Ai Zumper
Zumper Latest Portal to Integrate ChatGPT Plugin

Zumper, a leading provider of rental industry software, has announced its collaboration with OpenAI's artificial intelligence engine, ChatGPT. The partnership...

Read More
Meta Egypt
Meta Egypt Launch Announced as Estate Waves and Coldwell Banker Egypt Team Up

Real estate marketing company Coldwell Banker Egypt has teamed up with Estate Waves to announce the launch of a new...

Read More
Costar Group Dark Filter
CoStar Group's Unveils New Features – a CoStar Group online marketplace – is set to launch a new suite of features designed to help...

Read More

Editor's Pick