The Otava Group’s 2023 Financial Statement Bulletin – operating profit and cash flow doubled


Net sales fell by 3 per cent to EUR 232.8 million (239.6 in the previous year).  Digital products and services accounted for an increased proportion of sales: 17.3 per cent of net sales (15.6%). The Group’s operating profit, EUR 17.1 (8.8) million, almost doubled year-on-year. The result improved thanks to the implementation of savings and efficiency-boosting measures as well as better cost management. Profit for the financial year totalled EUR 21.3 (14.2) million, including Otava’s share of Alma Media Corporation’s result. The result contains EUR 2.8 million in personnel incentives and the associated social contributions. Otava Ltd has a 31.18 per cent holding in Alma Media. Dividends received from Alma Media amounted to EUR 10.6 (8.4) million. Through transactions carried out in December-January, Otava Ltd acquired a 10.02 per cent holding in Enento Plc. Cash flow from operating activities was EUR 40.6 (20.7) million. At year-end, the Otava Group’s equity ratio stood at 81.1 (87.9) 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,