The Finnish media company Alma Media has reported its Q1 financials for 2021 with some numbers that reflect stability in the Finnish housing market in which it operates leading sales portal Etuovi and rental portal Vuokraovi.
The Helsinki based media firm which also runs car and job marketplaces in Finland as well as in Central and Eastern Europe saw adjusted EBITDA for its Consumer segment (which includes its online housing marketplaces) at €3.9, up from €3.2 for Q1 of 2020.
The performance of the company’s housing marketplaces was singled out in the Q1 report as having increased profitability despite its segment’s performance having been weighed down by Alma’s print media operations. Revenue for the quarter was broadly in line with previous years:
Alma’s Q1 statement also gave a clue as to the company’s direction in the online housing marketing industry, with the company saying that it has recently “expanded our product portfolio in digital housing transactions” while also saying that the firm was looking to move away from media and towards marketplace businesses and seeking new business opportunities through acquisitions.
Despite posting full company revenue numbers of €61.9m (down 6% y-o-y), the company’s stock was trading at a 10 year high of €10.6 this week.