Alma Media Corporation writes down associated company shares by EUR 4.8 million
January 31, 2013 - London
Alma Media Corporation Stock Exchange Release January 31, 2013 at 9:15 am (EET)
ALMA MEDIA CORPORATION WRITES DOWN ASSOCIATED COMPANY SHARES BY EUR 4.8 MILLION
Alma Media has completed its regular annual goodwill impairment tests covering the entire Group. As a result, the company will write down the shares of its associated company Talentum Oy by approximately EUR 4.8 million for the fourth quarter of 2012.
The write-down will be reported in the fourth quarter financial result of Alma Media as a non-recurring item with no effect on the cash flow. Alma Media will publish its financial review of the fourth quarter and of the full-year 2012 on February 15, 2013. Alma Media repeats its earlier estimate, according to which the company expects its full-year revenue for 2012 to increase from the 2011 level, primarily due to the acquisitions made. Operating profit excluding non-recurring items is expected to be lower than in 2011.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications & IR
For further information, please contact:
Juha Nuutinen, CFO, Alma Media Corporation, tel. +358 50 438 0984
NASDAQ OMX Helsinki Stock Exchange
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 3,000 professionals. The company's revenue in 2011 totalled MEUR 316.2 with an operating margin of 13.3 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.com.
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Source: Alma Media Oyj via Thomson Reuters ONE