Increased operating profit, a dividend of € 0.70 per share proposed
The revenue for 2010 was M€ 311.4 (307.8). Advertising sales increased 5.5% to M€ 148.2, corresponding to 47.6% (45.7%) of the Group’s revenue. Advertising sales in printed newspapers grew 1.0% and in online media 24.6% from the previous year.
Circulation revenue in 2010 remained close to that of the previous year. Regional and local newspapers increased their circulation revenue slightly due to price increases.
The share of online business in Alma Media’s revenue increased to 15.7% (13.1%).
Alma Media’s operating profit for 2010 improved to M€ 43.4 (40.4). The operating profit excluding non-recurring items was M€ 43.9 (42.6) with a growth of 3.0% (decrease 10.5%) compared to the previous year. The operating profit represented 13.9% (13.1%) of revenue; 14.1% (13.9%) excluding the non-recurring items.
The operating profit of 2010 included a net total of M€ –0.5 (–2.2) of non-recurring items that mainly consisted of reorganisation of business operations and companies.
The profit before taxes for 2010 was M€ 45.0 (39.7) and the profit before taxes excluding non-recurring items was M€ 45.7 (42.0).
Alma Media’s Board of Directors proposes to the Annual General Meeting to be held on March 17, 2011 that a dividend of € 0.70 (0.40) per share be paid for the financial year 2010. At the rate of the last trading day of the financial year 2010, this would correspond to a dividend yield of 8.5%.
Outlook for 2011
Alma Media expects its full-year revenue and operating profit excluding non-recurring items to increase from the 2010 level. Full-year revenue for 2010 was M€ 311.4, operating profit M€ 43.4 and operating profit excluding non-recurring items M€ 43.9.
For full financial review, click here