Sanoma Oyj announced unaudited consolidated earnings results for the first quarter ended march 31, 2013. For the quarter, the company reported net sales of EUR 505.2 million compared to EUR 543.6 million a year ago. Operating loss was EUR 40.2 million compared to operating profit of EUR 15.6 million a year ago. Loss before taxes was EUR 55.2 million compared to EUR 14.4 million a year ago. Loss from continuing operations was EUR 51.8 million compared to EUR 18.0 million a year ago. Loss from continuing operations attributable to equity holders of the parent company was EUR 39.1 million or EUR 0.24 per basic and diluted share compared to EUR 19.2 million or EUR 0.12 per basic and diluted share a year ago. Loss attributable to equity holders of the parent company was EUR 39.1 million or EUR 0.24 per basic and diluted share compared to EUR 18.0 million or EUR 0.11 per basic and diluted share a year ago. Cash used in operations was EUR 62.7 million compared to EUR 21.9 million a year ago. Amount spent on acquisition of tangible and intangible assets was EUR 12.8 million compared to EUR 16.3 million a year ago. Return on equity was 7.4% compared to 3.4% for the same period a year ago. Return on investment was 7.1% compared to 5.5% for the same period a year ago. The company also reaffirmed earnings guidance for the full year of 2013. For the year 2013, the company expected that the group’s consolidated net sales will decline by 2% to 4% compared to 2012 and operating profit excluding non-recurring items is estimated to be in the range of EUR 180 million to 205 million. The company reported impairment of goodwill and intangible assets (The Netherlands) of EUR 34.8 million for the first quarter of 2013.

Sanoma Oyj held its annual general meeting on April 4, 2013. In the meeting, shareholders of the company approved the payment of a dividend of EUR 0.60 per share. The record date for distribution of dividends is 8 April 2013 and in Finland, the dividends will be payable on 16 April 2013. Outside Finland, the actual dividend payment date will be determined by the practices of the intermediary banks transferring the payments. The meeting also approved that Anne Brunila, Mika Ihamuotila and Robin Langeskiöld were elected as new board members. The meeting also approved amendments to the company's articles of association. Article 2 was amended to reflect the company’s current operations. Article 3, first paragraph was deleted as the focus of book publishing has moved from fiction towards non-fiction and learning. In addition the second paragraph of Article 3 was amended to reflect the company’s current operations. Article 5, references to Director General and Executive Committee and other Board Committees were deleted as the company does not currently have or intend to appoint a Director General and the Board of Directors can decide to establish a committee to prepare matters to be considered by the Board of Directors as part of the company’s corporate governance without a separate stipulation thereon in the Articles of Association. Article 6, Paragraphs 6–7 were deleted as unnecessary as the matters follow from the Finnish Companies Act. Articles 7 and 8 were deleted as unnecessary as the duties of the Board of Directors and the President and CEO follow from the Finnish Companies Act. Article 9, some technical amendments were made. Article 12, paragraphs concerning the time of the Annual General Meeting were deleted as it follows from the Finnish Companies Act. The place of the General Meeting was amended to reflect the current practice of the company and the place of the main office of the company. Article 13, a technical amendment was made. Article 14, the last sentence was deleted as unnecessary as the stipulation regarding shares in the book-entry system follows from the Finnish Companies Act and other relevant regulations regarding the book-entry system. Article 15 was deleted as unnecessary as the matters to be handled at the Annual General Meeting follow from the Finnish Companies Act and from other articles of the Company’s Articles of Association. The numbering of the articles was aligned with the above amendments to the Articles of Association.

Sanoma Oyj expects that the group’s consolidated net sales will decline by 2% - 4% for the fiscal 2013 compared to 2012 and operating profit excluding non-recurring items is estimated to be EUR 180 million - EUR 205 million. The company has taken a non-cash goodwill and other intangible asset impairment charge on the group level of EUR 34.8 million in Sanoma Media Netherlands, that comprises Sanoma’s Dutch magazines, TV and online operations. The impairment charge will be reported in Sanoma’s first quarter 2013 consolidated financial statements, and classified as non-recurring item, with no effect on cash flow.