Sale of NettiX resulted in large capital gains
Considering the circumstances, the Group’s operating profit excluding non-recurring items remained excellent, totalling EUR 24.5 million. Capital gains from the sale of NettiX Ltd shares amounted to EUR 118.1 million. EUR 10 million in additional depreciation of publication rights for Otavamedia magazines was recognised. The result contains EUR 2.0 (2.4) million in personnel incentives and the associated social contributions. Profit for the financial year totalled EUR 121.1 (26.5) million, including Otava’s share of Alma Media Corporation’s result. Otava Ltd has a 29 per cent holding in Alma Media. Dividends received from Alma Media amounted to EUR 7.2 million. Cash flow from operating activities was EUR 34.3 (51.1) million. At year-end, the Otava Group’s equity ratio stood at 83.9 (63.7) per cent.
Otava Group’s net sales fell by 8 per cent to EUR 255.3 (277.7) million. Comparable net sales were down by 3 per cent. The share of comparable net sales accounted for by sales of digital products and services grew to 17.6 (14.6) per cent.
Chairman of the Board
For more information, please contact Alexander Lindholm, CEO, tel. +358 40 833 0126, [email protected]