Finnish Marketplace Operator Alma Media Releases Q1 Results: Total Revenues Slightly Up, Classifieds Revenues Slightly Down

April 19, 2024
Share this Post: 

Alma Media has released a new-look financial analysis for its Q1 2024 results.

Highlights include:

  • Adjusted operating profit decreased by 5.2% in an uncertain operating environment.
  • Revenues reach €76.2M, up 1.2% year-on-year
  • Classified revenues decreased slightly, from €30.7M in 2023 to €30.2M in 2024
  • Alma Marketplaces experienced decreased profitability, but revenues increased 10.5% YoY

Kai Telanne, President and CEO at Alma Media, said:

"Alma Media’s business developed well in the first quarter in spite of the subdued operating environment. Revenue was on a par with the comparison period at MEUR 76.2.

"Profitability was weighed down by investments in service development, particularly in housing-related services in the Marketplaces segment.

"The Alma Marketplaces segment's revenue increased by 10.5% in the first quarter and amounted to MEUR 22.9. Adjusted operating profit decreased by 11.1% to MEUR 5.8 and was 25.5% of revenue."

Alma Media announced this year that its financial reporting would change to more accurately reflect segment structures across the business.

Therefore, our historical tracking at Online Marketplaces has become obsolete and our graphs no longer make sense! These will rejigged as Alma Media publishes more financial results according to this new analysis.

Regarding Marketplaces, the company said acquisitions supported revenue growth, but profitability decreased in housing-related services due to product development investments and a subdued housing market.

Regarding the housing market outlook, the release stated:

"According to the Central Federation of Finnish Real Estate Agencies, the housing market remained weak in the first quarter: the total volume of housing transactions fell by 14.2% year-on-year.

"The transaction volume for old dwellings was 34% below the average for the past five years, and the transaction volume for new dwellings was 83% lower than the five-year average."

Alma Media operates in 12 countries in Europe and employs approximately 1,700 professionals. Alma Media owns and operates Finland's leading real estate portal Etuovi, and the country's largest rentals marketplace, Vuokraovi.

April 19, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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

People Roundup 14Feb
People Roundup: Redfin, McMakler, Alma Media, Tsukuruba, Purplebricks

This week's people roundup starts in a sombre mood after Redfin announced a major round of layoffs driven by a...

Read More
Product Update 2025Feb14 1
Product and Services Roundup: Zillow, Domclick, CoCampo, Mogul

In a weekly news cycle dominated by Zillow, it's only fair to lead with the big blue giant once again!...

Read More
Zillow Court Ruling 1 2
Zillow Sued over "Masked Listings" on StreetEasy

Zillow has been sued over allegations that StreetEasy allowed multiple brokers to list the same unit on the platform, effectively...

Read More
Lifull Boardroom 3
Lifull Q1 FY2025: Slight Revenue Growth as Overseas Segment Transformation Completed

The diversified marketplace and former aggregator operator Lifull has released its financial result for the first quarter of the Japanese...

Read More

Editor's Pick