Alma Media's Interim Report January-March 2014: The decline in print media revenue reduced operating profit, measures to adjust cost structure are in progress

| Source: Alma Media
Alma Media Corporation        Interim Report      29 April 2014 at 9:00am (EEST)

Alma Media's interim report January-March 2014:

Financial performance January-March 2014:

- Revenue MEUR 72.7 (74.9), down 2.9%.
- Online sales increased by 11.0% to MEUR 23.8 (21.4).
- EBITDA (Earnings before interest, taxes, depreciation and amortisation)
excluding non-recurring items MEUR 6.1 (8.0), down 24.3%.
- EBITDA MEUR 6.8 (8.0), down 14.7%.
- Operating profit excluding non-recurring items MEUR 2.5 (5.5) or 3.4% (7.3%)
of revenue, down 54.8%.
- Operating profit MEUR 3.2 (5.4) or 4.4% (7.2%) of revenue, down 40.7%.
- Profit for the period MEUR 2.2 (4.1), down 47.3%.
- The result for the review period includes a non-recurring item, proceeds of
MEUR 0.7 from the sale of the BNS business.
- Earnings per share EUR 0.02 (0.05).

 KEY FIGURES                                    2014 2013   Change     2013

 MEUR                                             Q1   Q1           % Q1-Q4
 Revenue                                        72.7 74.9  -2.2  -2.9 300.2

 Contents revenue                               27.4 29.2  -1.8  -6.3 115.3

 Contents revenue, print                        26.1 28.2  -2.1  -7.5 111.2

 Contents revenue, online                        1.3  0.8   0.4  50.2   3.8

 Advertising revenue                            35.1 36.4  -1.3  -3.5 147.3

 Advertising revenue, print                     16.9 19.1  -2.1 -11.1  80.0

 Advertising revenue, online                    18.1 17.1   1.1   6.2  66.5

 Service revenue                                10.2  9.3   0.9  10.2  37.6

 Total expenses excluding non-recurring items   70.4 69.6   0.8   1.1 276.7
 EBITDA excluding non-recurring items            6.1  8.0  -1.9 -24.3  37.5

 EBITDA                                          6.8  8.0  -1.2 -14.7  45.3
 Operating profit excluding non-recurring items  2.5  5.5  -3.0 -54.8  24.2

  % of revenue                                   3.4  7.3               8.0

 Operating profit                                3.2  5.4  -2.2 -40.7  27.0

  % of revenue                                   4.4  7.2               9.0

 Profit for the period                           2.2  4.1  -1.9 -47.3  16.0
 Earnings per share, EUR (basic)                0.02 0.05 -0.03 -54.1  0.20

 Earnings per share, EUR (diluted)              0.02 0.05 -0.03 -54.1  0.20

 Online sales                                   23.8 21.4   2.4  11.0  84.5

 Online sales, % of net sales                   32.7 28.6   4.1        28.1

Outlook for 2014:

The revenue and operating profit of Alma Media's print newspaper business,
especially regional media, did not develop as expected during the first quarter
of the year. Therefore, the company lowered its estimate on 15 April 2014 of the
development of both revenue and operating profit during the first half of the
year, as announced in the Financial Statements Release on 13 February 2014.

The economic operating environment in Finland has remained weaker than expected
in the beginning of 2014. The advertising market for print media has declined
more than anticipated. In the current economic situation, forecasting the
operating environment and especially advertising sales is exceptionally
In its Financial Statements Release on 13 February 2014, Alma Media expected the
revenue of the first half of 2014 to be on a par with, or slightly lower than
the corresponding period in 2013. Operating profit excluding non-recurring items
was estimated to be MEUR 9.0-10.5.

According to the company's new estimate, the revenue for the first half of the
year will be lower than the corresponding period in 2013 and operating profit
excluding non-recurring items will be below the level estimated in the Financial
Statements Release on 13 February 2014.

Revenue for the first half of 2013 was MEUR 151.2 and operating profit excluding
non-recurring items MEUR 10.1.

Kai Telanne, President& CEO:

The advertising and content revenue from Alma Media's online and mobile channels
and the sales of different types of digital services, such as recruitment
services, developed favourably in the first quarter of 2014. We introduced
several mobile applications for news and lifestyle content. The volume of video
publishing and viewing in IL-TV grew by 30% and also advertising in this new
channel increased. The video service sales of Alma360 for its clients' own
channels developed well.

Alma Career, a holding company managing Alma Media's recruitment business
operations in all the different countries, started its operation in the
beginning of the year 2014. The company, owned jointly with Monster Worldwide,
Inc., integrates recruitment services in all of Alma Media's nine operating
countries more closely and enables international sales growth through Monster's
global network.

Good sales figures for digital advertising and digital content were not enough
to offset the weak development of print media in the first quarter. The
plummeting of newspaper advertising has its roots primarily in the recession of
Finnish national economy. Retail and specialist trade's sales and marketing
investments, which are especially important for newspaper advertising, have
decreased strongly due to the weak consumer demand, stemming from the declining
consumer purchasing power. Also the digitalisation of communication has an
impact on advertising as businesses are increasingly shifting their investments
to e-commerce and digital marketing communications channels.

Owing to the market conditions, the revenue and profit of Alma Media's print
newspaper business, in particular the regional media, did not develop as
expected in the first quarter. The company had to lower its revenue and
operating profit estimates for the first half-year from the Financial Statements
release of 13 February 2014.

Due to the performance being weaker than expected, Alma Media will launch
streamlining measures in Alma Regional Media, with the objective of achieving
annual savings of MEUR 1.5. In addition, the Group's financial administration
will be reorganised to increase operational efficiencies.

To ensure the profitability of regional publishing operations and the quality of
its content, Alma Media and five other Finnish newspaper publishers signed a
letter of intent in the beginning of 2014 aiming at significantly wider
journalistic cooperation between the newspapers and the establishment of a joint
company, Lännen Media, during the year 2014.

The declining print media has further accelerated Alma Media's business
development efforts and investments in future digital business. The share of
digital products and services of Group total revenue in the first quarter was
32.7% (28.6%). Online sales increased by 11.0% during the first quarter.

For more information, please contact:

Kai Telanne, President and CEO, telephone +358 10 665 3500
Juha Nuutinen, CFO, telephone +358 10 665 3873

Disclosure procedure:

Alma Media Corporation follows the disclosure procedure enabled by Standard
5.2b published by the Finnish Financial Supervision Authority. This stock
exchange release is a summary of Alma Media Corporation's Interim Report January
- March 2014. The complete report is attached to this release in pdf format. The
Interim Report is also available on Alma Media's website at

Conference, webcast and conference call

A conference for Finnish media, investors and analysts will be held on the same
day at 11.00-12.00 EEST in the Alma House (address: Alvar Aallon katu 3 C,
Helsinki). In addition to the presentations held by President & CEO Kai Telanne
and CFO Juha Nuutinen, participants will have an opportunity to discuss with
other members of the company's management. Please note that the conference will
be held in Finnish. The presentation material in English will be available on at 11.00 EEST.

To participate in the conference, kindly register beforehand by e-mail,

An international conference call and audio webcast concerning the financial
result of January-March 2014 will begin at 13.00 EEST. You can participate in
the conference by calling +44(0)20 3427 1906 (confirmation code: 8523318) or
follow the direct transmission at

Rauno Heinonen
Vice President, Corporate Communications and IR
Alma Media Corporation

DISTRIBUTION: NASDAQ OMX Helsinki, main media

Alma Media in brief

Alma Media is a media company focusing on digital services and publishing. In
addition to news services, the company's products provide useful information
related to lifestyle, career and business development. The services of Alma
Media have expanded from Finland to the Nordic countries, the Baltics and
Central Europe. The company employs 1,965 professionals (excluding
distributors), of whom approximately one third work outside Finland. Alma
Media's revenue in 2013 totalled approximately MEUR 300. Alma Media's share is
listed on NASDAQ OMX Helsinki.