Sanoma acquires learning business in Finland and Sweden and divests its general literature operations
Press Release 29/4/2011Â 09:30
Sanoma acquires the assets of the Finnish educational publisher Tammi Learning
and all the shares of the Swedish educational publisher Bonnier Utbildning AB
from the Swedish media group Bonnier AB. At the same time, Sanoma sells the
shares of its Finnish general literature publisher Werner SÃ¶derstrÃ¶m Ltd. (WSOY)
to Bonnier. The transaction of WSOY is subject to the approval of the Finnish
competition authorities. The closing of the transaction is expected during the
Currently Sanoma has learning operations in Finland, the Netherlands, Belgium,
Hungary, Poland and Russia. The total net sales of Sanoma's learning business
were EUR 249 million in 2010. This transaction is in line with Sanoma's strategy
to focus its operations and to concentrate on consumer media and learning
"Learning solutions are one of Sanoma's key focus areas. These transactions are
logical steps for us as they support our ambition to grow this business and
focus our operations," says Harri-Pekka Kaukonen, President and CEO of Sanoma.
"We are delighted with this transaction which brings us to the Swedish learning
market and strengthens our Finnish learning business. Both Bonnier Utbildning
and Tammi Learning are excellently performing learning companies, which extend
well our portfolio," says Jacques Eijkens, CEO of Sanoma Learning & Literature.
"Sanoma is committed to providing high-quality learning materials and solutions
that help pupils to achieve great learning outcomes. Moreover, we are developing
workflow solutions that serve teachers in their professional work and in
numerous daily tasks. We are applying our extensive expertise, technology and
resources to this purpose."
"WSOY has a great history. Bonnier has exceptionally long history in publishing
and their dedication of books extends back 200 years. General literature is in
the core of Bonnier's operations. This deal provides WSOY's premium general
literature with a good home and the right management support and resources to
develop the business further," Kaukonen continues.
"Bonnier has a long and successful publishing tradition that builds on the
philosophy of nurturing the specific needs, strengths and potential of
individual publishing houses in their home markets," says Jonas Bonnier, CEO of
Bonnier AB. "WSOY with its unique position in the Finnish literature and
remarkable line of authors is a wonderful addition to the Bonnier Publishing
In 2010, net sales of Tammi Learning, Bonnier Utbildning and WSOY General
literature were EUR 10.2 million, EUR 17.6 million and EUR 32.5 million,
respectively. Tammi Learning and Bonnier Utbildning employed some 80 people
(FTE) and WSOY General Literature some 100 people. The transaction is estimated
to improve Sanoma's profitability from 2012 onwards.
Following the transaction with Bonnier, the net sales of Sanoma Learning &
Literature in 2011 are estimated to be at the previous year's level and
operating profit excluding non-recurring items is expected to decrease somewhat.
Previously, the net sales of Sanoma Learning & Literature were estimated to
increase slightly and operating profit excluding non-recurring items was
expected to be at the previous year's level. Learning business has a strong
seasonality within the year, the first and fourth quarter being typically loss-
making. For general literature, on the other hand, the fourth quarter is
typically the strongest one. Due to this seasonality, this transaction will
lower Sanoma Learning & Literature's fourth quarter result in 2011.
Sanoma and Bonnier will hold a joint press meeting in English at 11:00 am (EET)
at Adams-Sali, Erottajankatu 15-17, Helsinki, Finland. In the meeting, questions
can be asked also in Finnish or Swedish.
Chief Financial Officer
Harri-Pekka Kaukonen, President and CEO, Sanoma Corporation tel.
+358Â 105 19 5021
Maria Curman, CEO, Bonnier Books, tel. +46 70Â 884 8910
Sanoma's Investor Relations:
Kare Laukkanen tel. +358 105 19 5064 and Anna Tuominen tel. +358 105 19 5066 or
Sanoma inspires, informs and connects. As a diversified media group, we bring
information, experiences, education and entertainment to millions of people
every day. We make sure that quality content and interesting products and
services are easily available and meet the demands of our readers, viewers and
listeners. We offer a challenging and interesting working environment for nearly
20,000 people in over 20 countries throughout Europe. In 2010, the Group's net
sales totalled EUR 2.8 billion.
Sanoma Learning & Literature is a leading European provider of learning
materials and solutions in print and digital format. The Division has also
growing international business information and language services operations.
Sanoma Learning & Literature operates in fourteen countries and provides nearly
2,700 employees with inspiring opportunities to work. In 2010, Division's net
sales totalled EUR 350 million.
Bonnier is an international media group active in television, newspapers,
magazines, movies and cinemas, books and digital media. With our base in the
Nordic region and substantial operations in the U.S., Germany, the U.K. and
Eastern Europe, we have businesses in 17 countries worldwide and employ over
10,000 people. Since 1804 we have published high-quality media products. Bonnier
stands for entrepreneurship and has always combined a genuine commitment to
freedom of speech with a sense for business. Bonnier is wholly owned by the
Bonnier family, which has been running the company for seven generations.
Bonnier Books includes five groups: BonnierfÃ¶rlagen in Sweden, Cappelen Damm in
Norway, Bonnier Media in Germany, Bonnier Publishing in England and Tammi in
Finland. These groups include a total of 30 publishing houses in seven
countries, covering the genres fiction, non-fiction, children's literature and
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Source: Sanoma Oyj via Thomson Reuters ONE