The Otava Group’s 2022 Financial Statement Bulletin02.03.2023
Otava Group’s net sales fell by 6 per cent to EUR 239.6 million (255.3 in the previous year). Comparable net sales were down by 4 per cent (3%). Digital products and services accounted for an increased proportion of sales: 15.6 per cent of net sales (14.6%). The Group’s operating profit excluding non-recurring items was satisfactory and totalled EUR 8.8 (24.5) million. The overall result weakened due to poor Christmas sales, outlays on digital products and services, and general cost increases. Profit for the financial year totalled EUR 14.2 million including Otava’s share of Alma Media Corporation’s result (in the previous year EUR 121.1 million, including capital gains from the divestment of NettiX and a EUR 10 million write-down on Otavamedia’s magazine publishing rights). Otava Ltd has a 29 per cent holding in Alma Media. Dividends received from Alma Media amounted to EUR 8.4 (7.2) million. Cash flow from operating activities was EUR 20.7 (34.3) million. At year-end, the Otava Group’s equity ratio stood at 87.9 (83.9) per cent.
Henrik Ehrnrooth Alexander Lindholm
Chairman of the Board Group CEO
For more information, please contact Alexander Lindholm, CEO, tel. +358 (0)40 833 0126, [email protected]