KSLNasdaq HelsinkiPublishingIFRS · EUR

Keskisuomalainen Oyj

Keskisuomalainen is a Finnish media company primarily operating in the commercial media sector. It is involved in publishing both printed and digital newspapers and magazines, as well as providing radio broadcasting and digital outdoor advertising services. The company has faced challenges due to the media transformation and geopolitical events but continues to adapt by increasing its digital offerings. Keskisuomalainen operates exclusively in Finland, with a focus on maintaining its competitiveness in both traditional print and digital media landscapes.

Revenue213m EUR
+5.0 %y/y
Operating profit (EBIT)11.7m EUR
+290.5 %y/y
EBIT margin5.5%
+8.6 ppy/y
Net income8.8m EUR
+241.7 %y/y
Free cash flow20.4m EUR
+776.8 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50050100150200250m EUR2020: 207 m EUR2020: EBIT 4.9 m EUR20202021: 212 m EUR2021: EBIT 9.6 m EUR20212022: 221 m EUR2022: EBIT 10.0 m EUR20222023: 209 m EUR2023: EBIT -14 m EUR20232024: 203 m EUR2024: EBIT -6.2 m EUR20242025: 213 m EUR2025: EBIT 12 m EUR202521312
RevenueOperating profit (EBIT)

Business

Share of revenue
Newspapers40 %

Includes both printed and digital newspapers.

Radio Broadcasting15 %

Radio stations providing news and entertainment.

Digital Advertising20 %

Includes digital outdoor advertising services.

Printing Services10 %

Printing services for various media products.

Marketing Services10 %

Marketing and communication services.

Research Services5 %

Market and consumer research services.

Customers

Keskisuomalainen serves a diverse range of customers, primarily within Finland. Its customer base includes individual subscribers of newspapers and magazines, businesses seeking advertising and marketing services, and companies requiring research services. The shift from print to digital has attracted a younger demographic, while traditional print media continues to serve an older audience. The company's radio and digital advertising services cater to businesses looking to reach a broad audience through various media channels.

Individual Subscribers

Subscribers of printed and digital newspapers and magazines.

Business Advertisers

Businesses seeking advertising and marketing services.

Research Clients

Companies requiring market and consumer research services.

Strategy

Keskisuomalainen's strategic priorities include enhancing its digital media offerings and maintaining the competitiveness of its traditional print media. The company is focusing on digital transformation to capture the growing digital audience and improve profitability. It is also investing in compliance with new EU regulations on political advertising, which requires transparency and data management improvements. The company aims to balance its traditional and digital media operations to ensure long-term sustainability.

Digital TransformationMedium term

To capture growing digital audience and improve profitability.

Regulatory ComplianceShort term

To meet new EU regulations on political advertising.

Geography

Keskisuomalainen operates exclusively within Finland, with its headquarters and main operations located in the country. The company has several printing facilities in Tuusula, Kouvola, and Varkaus, although it plans to consolidate some operations. Its geographic focus allows it to cater specifically to Finnish audiences and businesses, providing localized content and services. This domestic focus also means that the company is heavily influenced by the Finnish economic and regulatory environment.

Risks

Keskisuomalainen faces several risks, including the ongoing transformation of the media industry and geopolitical tensions affecting the Finnish economy. The shift from print to digital media poses a challenge in maintaining profitability. Additionally, new EU regulations on political advertising introduce compliance risks, requiring significant investment in systems and processes. The company is also exposed to economic fluctuations in Finland, which can impact consumer and advertiser confidence.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Media Industry Transformation1Economic Fluctuations2EU Political Advertising Regulations3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Media Industry TransformationImpact: HighLikelihood: High

    Challenges in maintaining profitability amid digital shift.

  2. Economic FluctuationsImpact: HighLikelihood: High

    Impact on consumer and advertiser confidence.

  3. EU Political Advertising RegulationsImpact: MediumLikelihood: Medium

    Compliance risks requiring investment in systems.

Accounting

Judgemental items
Revenue Recognition

Critical for accurate reporting of digital subscriptions and advertising.

Impact: high

Seasonal Fluctuations

Affects consistency of financial performance.

Impact: medium

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Keskisuomalainen Oyj (KSL) Revenue, Earnings & Financials 2025 – Clarifo