Sanoma completes the acquisition of Pearson’s local K12 learning content business in
Sanoma has completed the acquisition of Pearson’s local K12 learning content business in
New Outlook for 2022 updated for the acquisition of Pearson Italy and
In 2022, Sanoma expects that the Group’s reported net sales will be
Regarding the operating environment Sanoma expects that (unchanged):
- The continuing coronavirus pandemic will not have a significant impact on its businesses.
- The advertising market in
Finland will be stable.
Previous Outlook:
In 2022, Sanoma expects that the Group’s reported net sales will be
“I am very pleased to announce the closing of our acquisition of Pearson Italy and
Adjusted quarterly key figures of the acquired businesses
(pro forma, preliminarily adjusted for IFRS and Sanoma accounting principles, unaudited)
EUR million | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 | FY 2021 | |
Net sales | 31 | 11 | 18 | 58 | 29 | 12 | 117 | |
Operational EBIT excl. PPA | 6 | -4 | 18 |
The acquired business and financials in brief
Pearson Italy is the third largest provider of K12 learning materials in the fragmented Italian market. Secondary education represents approx. 80% of its net sales, and it has a market leading position in certain subjects, including philosophy and literature. Under its strong local brands, Pearson Italy offers schools, teachers and students recognised and reputable high-quality learning materials. Printed content is typically closely supported by digital offering. The acquired local K12 learning materials will be rebranded to Sanoma during the coming years. Sanoma will continue to distribute Pearson’s English language teaching materials in
The acquisition also includes Pearson’s small exam preparation business in
Preliminary assessment concludes that the value of the acquired assets on the seller’s balance sheet was approx.
Sanoma estimates that the acquisition will create synergies of EUR 2−3 million (annual run-rate). The synergies are expected to be realised in full in 18−24 months after closing and mainly relate to shared support functions and procurement benefits.
Sanoma estimates that the acquisition will create separation, integration and rebranding costs, to be booked as items affecting comparability (IACs), of approx.
Purchase price and financing of the transaction
The cash and debt free enterprise value of the acquired businesses is
Sanoma will book approx.
Additional information
Investors: Kaisa Uurasmaa, Head of Investor Relations and Sustainability,
Media: Christel Lammertink, Communications Director,
Sanoma
Sanoma is an innovative and agile learning and media company impacting the lives of millions of people 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
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 2021, our net sales amounted to approx. 1.25bn€ and our operational EBIT margin excl. PPA was 15.8%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at sanoma.com.
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