Seasonal fluctuation

Seasonal business fluctuations influence Sanoma Group’s net sales and earnings, with the first quarter traditionally being clearly the smallest one for both.

Learning business accrues most of its net sales and earnings during the second and third quarters.

In the media businesses, net sales and earnings are particularly affected by the development of advertising. Advertising sales are influenced, for example, by the number of newspaper and magazine issues published each quarter, which varies annually. TV advertising in Finland is usually strongest in the second and fourth quarters. The events business in Finland, strengthened by an acquisition in 2018, is focused on the second and third quarters.