Finland-based media company Alma Media which operates a number of job boards, reported revenue today of €76.2 million in Q1 2024, an increase of 1.2% when compared to last year.

Alma Media’s revised segment structure took effect on 1 March 2024. Alma Media also revised its revenue reporting. Going forward, revenue will be divided into the following categories: classified advertising, advertising, digital services, content and other sales.

Alma Media’s business segments are Alma Career, Alma Marketplaces and Alma News Media. On 4 April 2024, Alma Media published comparison data under the new segment structure, and the revised distribution of revenue for each quarter and for the full financial year January to December 2023. The reporting in this interim report reflects the new segment structure and revised distribution of revenue.

In the Alma Career segment, revenue decreased by 2.7% and amounted to €26.9 million. The group said here were significant differences in the labour market cycle between Alma Career's operating countries. Among the significant operating countries, the situation was “fairly good” in the Czech Republic, and the dynamic recruitment markets in Slovakia and Croatia continued to be driven by the high level of activity among workers, intense competition for skilled labour and low unemployment. At the same time, the cyclical conditions remained challenging in the Baltic countries and Finland.

The Alma Marketplaces segment's revenue increased by 10.5% in the first quarter and amounted to €22.9 million. The segment's expenses increased by almost 20% due to acquisitions. “In spite of the challenging market conditions, we continued to purposefully implement our development projects, particularly in digital services related to the automotive and housing verticals, as well as other key projects related to transactional commerce,” the group stated.

In the Alma News Media segment, revenue decreased by 2.9% to €26.4 million. The economic cycle is challenging for Finnish media, and the group said there has been no recovery in spite of the temporary boost caused by the presidential elections. Nevertheless, there was high general interest in the news, it added.

Looking ahead, Alma Media expects its full-year revenue and adjusted operating profit of 2024 to remain at the 2023 level. The full-year revenue for 2023 was €304.9 million and the adjusted operating profit was €73.6 million.

Alma Media shares last traded at €9.38, down 0.21% on the day and 8.04% below its 52-week high of €10.20, set on 4 April 2024. The company has a market cap of €774.40 million.