Last week Sanoma announced the financial results for 2018, which were very good with improved operational profits across all three divisions.
“Best result ever at Sanoma Learning”
For Sanoma Learning this was the best result in our history so far, with profitability increasing by 10% from € 55.6M in 2017 to € 61.2M in 2018. This very much helps to underpin the major investments we are making in the digital transformation.
I’m especially proud that a large part of this very good performance came from gains in market share in many of our countries, demonstrating that our learning materials are appreciated by teachers and pupils and that we are competitive in the market. Our Learning Impact survey showed that teachers believe our solutions support them in reaching their learning objectives (92%), enable them in their workflow (87%) and help in student engagement (83%). This really highlights the important work we are doing in enabling teachers in developing the talents of our children.
“Working together across borders”
A second driver of the good results in 2018 was the High Five program where we are working together on investing in the next generation of Sanoma Learning, and funding that journey by creating leaner processes on a number of back-office activities. This gave a solid underpinning to the results in 2018, and we will see further benefits in 2019.
“New growth through acquisitions”
In addition we announced at the end of 2018 our intention to acquire Iddink Group which will increase the size of Sanoma Learning by about half going forward. Iddink will help us to accelerate the digital transformation of secondary education in The Netherlands, will extend our role in Belgium and will bring us a new position and new opportunities in Spain. During the course of 2019 we expect to become the owner of Iddink.
I very much want to thank the teachers and pupils who work with our courses for your trust in us. I would also like to thank our teams for the good work in 2018. I know we asked a lot of you and I appreciate the important work we did together. This has truly been a team effort!
Looking forward >>
We have a big year ahead of us not least with the launch of new platform Kampus in Finland and Sweden, Bingel in The Netherlands, new reforms in Upper Secondary Education in Poland and other reforms in Belgium. We will be working hard to progress the High Five Program. And we expect to finalize the transaction with Iddink and further develop the business.
We have a strong plan for the coming years and are highly committed to making a positive impact on learning and teaching. Looking forward >>