Sanoma Corporation, Investor news, 8 January 2024 at 12:30 EET
Sanoma divests Stark exam preparation business in Germany
Sanoma has divested Stark, an exam preparation business in Germany, which it acquired in connection to the Italian K12 learning content business from Pearson in August 2022. The buyer was the original founder of the business, Mr. Stark.
The divestment focuses Sanoma Learning’s portfolio and is in line with its strategy to grow its leading blended offering of digital and print for K12 in key operating markets, and to reach the long-term target of operational EBIT margin excl. PPA of 23% in 2026.
In 2023, Stark’s net sales were approx. EUR 14 million and the company employed 56 people, who transferred to the buyer with the divestment.
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day. Our Sustainability Strategy is designed to maximise our positive ‘brainprint’ on society and to minimise our environmental footprint. We are committed to the UN Sustainable Development Goals and signatory to the UN Global Compact.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in twelve European countries and employ more than 5,000 professionals. In 2022, our net sales amounted to approx. 1.3bn€ and our operational EBIT margin excl. PPA was 14.6%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at sanoma.com.