Sanoma: Stability and strength in the books
The learning business generates good 2/3 of Sanoma’s result, which makes a majority of income flows defensive and their risk level is low. We expect these characteristics to strengthen in the future, as we expect the company to continue acquisition-driven growth in the learning business. We estimate that the expected return for the next few years consists of attractive dividend yield and moderate earnings growth. This, together with Sanoma’s low risk level creates in our view a good risk/return ratio. The learning business generates good 2/3 of Sanoma’s result, which makes a majority of income flows defensive and their risk level is low. We expect these characteristics to strengthen in the future, as we expect the company to continue acquisition-driven growth in the learning business. We estimate that the expected return for the next few years consists of attractive dividend yield and moderate earnings growth. This, together with Sanoma’s low risk level creates in our view a good risk/return ratio.
Sanoma
Sanoma är en mediekoncern. Idag publicerar koncernen ett flertal tidningar, samt drivs flera TV-kanaler och radiostationer. Utöver huvudverksamheten erbjuds onlinetjänster samt utbildningsplattformar inom arbetsområdet. Störst verksamhet innehas idag på den europeiska marknaden. Bolaget grundades ursprungligen 1889 och har sitt huvudkontor i Helsingfors.
Read more on company pageKey Estimate Figures2022-04-12
2021 | 22e | 23e | |
---|---|---|---|
Omsättning | 1 251,6 | 1 292,6 | 1 334,6 |
tillväxt-% | 17,88 % | 3,28 % | 3,25 % |
EBIT (adj.) | 158,2 | 162,9 | 181,2 |
EBIT-% | 12,64 % | 12,61 % | 13,58 % |
EPS (adj.) | 0,71 | 0,72 | 0,82 |
Utdelning | 0,54 | 0,58 | 0,60 |
Direktavkastning | 3,96 % | 7,49 % | 7,75 % |
P/E (just.) | 19,08 | 10,73 | 9,41 |
EV/EBITDA | 8,08 | 4,95 | 4,48 |