The Otava Group’s result remained good
The Otava Group’s net sales grew by 2% thanks to acquisitions and amounted to EUR 299.1 (292.2) million. Comparable net sales were down 3%. The Group’s operating result excluding non-recurring items, EUR 30.2 million, remained at a good level. The Group’s direct operating profit was EUR 51.3 (30.7) million. Non-recurring items include capital gains of EUR 21.1 million from the sale of Hietalahdenranta 17 real estate; in addition, EUR 1.5 (2.1) million in rewards to personnel, including social security costs, have been recognised in the result. Profit for the financial period amounted to EUR 20.7 (18.7) million. Cash flow financing grew to EUR 50.7 million. During the review year, Otava Ltd increased its holding in Alma Media Corporation by EUR 117.5 million. Otava Ltd’s holding rose to 29%. The Otava Group’s equity ratio stood at 62.5% (78.9%) at year-end.
Chair of the Board of Directors