Page 1

STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 1(14 )

TALENTUM'S OPERATING PROFIT FOR JANUARY-SEPTEMBER WAS BOOSTED BY THE SALE OF SATAMA SHARES Talentum’s interim report for January-September 2005 in accordance with IFRS standards -

Net sales: EUR 69.0 million (EUR 67.5 million) Operating profit: EUR 16.5 million (EUR 4.7 million) Cash flow from business operations: EUR 2.0 million (EUR 3.1 million) Earnings per share: EUR 0.34 (EUR 0.09) Earnings per share, ongoing operations: EUR 0.08 (EUR 0.08) Equity ratio: 42.0% (45.0%)

July-September - Net sales: EUR 19.9 million (EUR 19.8 million) - Operating profit: EUR 11.9 million (EUR 0.6 million) The most significant positive factor for the Group’s profitability in JanuarySeptember was the profit of EUR 10.5 million on the sale of Satama Interactive Oyj's shares recorded in the third quarter of the year. Publishing’s growth of 9.5% and a further improvement in its profitability also made a positive contribution to the Group’s profitability. IAS/IFRS REPORTING In accordance with its previous announcement, Talentum transferred to IFRS (International Financial Reporting Standards) reporting on January 1, 2005. The figures used for comparison purposes are the IFRS-compatible 2004 figures, which were published on April 25, 2005. In accordance with the IFRS terminology, the terminated business areas in this interim report refer to Internet consulting. As announced on September 16, 2005, Talentum Oyj has sold its entire holding in Satama Interactive. As a result of the deal, the contribution of Satama Interactive to the Talentum Group’s consolidated net sales has been eliminated. CEO Harri Roschier: "The third quarter of the year went as planned. Publishing and Direct Marketing performed well, as was expected. Efficiency measures within TV Content Production and Premedia continued, which led to results in these areas remaining modest. "The biggest event was the sale of Talentum’s 60% ownership in Satama Interactive. Talentum had been looking into the possibilities of reducing its ownership of Satama Interactive for quite some time, and now a situation arose in which we received a reasonably good price for our holding, EUR 23 million in cash, and a resulting profit of EUR 10.5 million. "The sale of Satama will give a clearer definition to the Group structure and improve Talentum’s chances of developing and expanding Publishing at a brisk pace. The first step was the acquisition of the Swedish Ekonomi & Teknik Förlag AB at the beginning of October. "E+T’s biggest magazines, Ny Teknik and Affärsvärlden, are so similar to Talentum’s magazines that cooperation will bring operational benefits in both


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countries. Talentum’s operations are more diversified in Finland than E+T’s in Sweden, and we believe that book publishing, online operations and job advertising contain elements that will enable the business operations in Sweden to grow. Product development in the future will be implemented more successfully by working together rather than separately. Furthermore, selling advertising internationally is an area where combining will probably bring benefits to both parties. "Integrating the Finnish and Swedish operations will take time, and developing the Swedish operations will require both intellectual and financial investment, but in the medium/long-term we believe that this acquisition will make a very positive contribution to Talentum’s product development and international operations. "The organizational change that took place in publishing last August aims at speeding up growth and will initially incur a certain amount of extra costs. "Our strategic policy at Talentum is to develop operations in such a way that Publishing will grow significantly and that most of our net sales will come from Publishing." CONSOLIDATED NET SALES The change in Talentum’s consolidated net sales for January-September was 2.2% (5.3%). The change in the net sales for the third quarter was 0.2% (5.2%) and amounted to EUR 19.9 million (EUR 19.8 million). Publishing saw the fastest growth in January-September at 9.5% (5.9%). Direct Marketing’s net sales increased by 2.6% (-2.0%). Premedia’s net sales were down -1.3% (+7.4%), and the net sales for TV Content Production were down -7.2% (0.0%). Publishing accounted for 52% (48%) of the consolidated net sales for JanuarySeptember. TV Content Production accounted for 22% (24%) of the net sales, Premedia for 23% (23%) and Direct Marketing 8% (8%). Inter-group business activities accounted for 5% (4%) of the consolidated net sales. Circulation revenue from Talentum’s magazines was up 1% and advertising revenue 9%. The most significant factor for the growth in advertising revenue was the more than 30% increase in job advertising. The trend in advertising sales is a key variable for Publishing’s financial performance. Magazines and online activities account for about 75% of Publishing’s net sales, of which advertising sales account for 60%. Books and training bring in the remaining 25% of the net sales. Talentum has integrated its business operations portfolio with resolute development work and the implementation of synergy. Both the sale of Satama Interactive and the acquisition of Ekonomi & Teknik Förlag AB are the results of a logical refinement of operations, and these results will open up further avenues for future growth via the chosen business areas. The sale of Satama will allow Talentum to allocate resources more effectively to the chosen business areas. Strong growth will still be sought for Publishing; the acquisition of Ekonomi & Teknik Förlag AB will create the conditions not only for geographical expansion but also for future growth in Publishing via an exchange of skills and joint product development. Investment in the development of Premedia has also been increased. Talentum’s objective is to continue refining the business


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operations and synergy potential in a way that will support the company’s growth and create value added for the owners. CONSOLIDATED RESULTS Talentum’s consolidated operating profit for January-September totalled EUR 16.5 million (EUR 4.7 million), i.e. 23.9% (7.0%), and the profit was EUR 15.0 million (EUR 3.8 million), i.e. 21.7% (5.6%). A profit of EUR 10.5 million on the sale of Satama shares recorded in the third quarter of the year has been entered into the operating profit. The operating profit for the third quarter increased to EUR 11.9 million (EUR 0.6 million), i.e. 60.0% of the net sales (3.1%), and the profit was EUR 12.0 million (EUR 0.2 million), i.e. 60.5% (0.9%). Publishing and Direct Marketing performed very well, while the performance of Premedia together with TV Content Production was unsatisfactory. Fluctuations in exchange rates did not have a direct bearing on Talentum’s consolidated net sales or results. The earnings per share for January-September amounted to EUR 0.34 (EUR 0.09); for ongoing operations it was EUR 0.08 (EUR 0.08). CASH FLOW, FINANCIAL POSITION AND BALANCE SHEET The cash flow from business operations in January-September totalled EUR 2.0 million (EUR 3.1 million), and in July-September EUR -2.9 million (EUR -2.1 million). Net financial items and taxes in January-September were EUR –1.4 million (EUR – 0.9 million), i.e. -2.0% of the net sales (-1.4%). Expenditure on other investment has increased considerably. The main reason for this was the growth in the proportion of annual statutory employment pension contributions paid in advance in order to obtain an interest rate benefit. The effect of this on the cash flow for the period was EUR –1.2 million (EUR –0.5 million). The balance sheet total on September 30, 2005 was EUR 80.6 million (EUR 77.4 million), of which cash assets totalled EUR 35.0 million (EUR 25.3 million). The Group’s liquid assets are invested primarily in financial instruments and a small amount in shares. The change in cash assets in January-September was EUR 6.6 million (EUR –9.8 million). Talentum Group’s financial standing was good and the equity ratio at the end of the period under review was 42.0% (45.0%). The Group’s equity per share was EUR 0.74 (EUR 0.60) at the end of September. The Group’s interest-bearing liabilities at the end of the period under review stood at EUR 25.7 million (EUR 21.0 million). DEPRECIATION, AMORTIZATION AND WRITE-DOWNS Consolidated depreciation, amortization and write-downs amounted to 3.8% of the net sales (4.6%), which is EUR 3.3 million (EUR 3.9 million).


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INVESTMENT Gross investment in fixed assets in January-September totalled EUR 8.2 million (EUR 6.5 million), which is 9.3% (7.7%) of the net sales. Of this amount, EUR 5.8 million (EUR 4.2 million) was invested in Group company shares and acquisitions. Other investment comprised mainly normal replacement and maintenance investment, such as procuring equipment, software and fixtures. PERSONNEL In January-September, the Group employed an average of 1,224 (1,154) persons of whom 16.5% (16.3%) worked abroad. The average number of staff, broken down by business area, was as follows: Publishing TV Content Production Premedia Direct Marketing Internet Consulting Group administration

279 103 225 305 296 16

MANAGEMENT During the third quarter, Seppo Summanen, M.Sc. (Technology), EMBA, was appointed a director with responsibility for Premedia and TV Content Production. He is a member of the Talentum Group’s Management Group and Executive Management Group and will report to CEO Harri Roschier. BUSINESS AREAS Publishing Publishing performed very well during January-September. The net sales for publishing in January-September amounted to EUR 35.8 million (EUR 32.7 million), and the operating profit totalled EUR 5.3 million (EUR 3.9 million), i.e. 14.8% of the net sales (11.9%). Publishing was up by 8% during the third quarter and the operating margin was 12.8% (13.3%). Magazine publishing’s net sales in January-September were EUR 26.3 million (EUR 23.8 million); Internet services accounted for around EUR 2.5 million (EUR 2.4 million). The net sales for book publishing amounted to EUR 6.0 million (EUR 5.6 million) and the net sales for training activities were EUR 1.0 million (EUR 1.0 million). Profitability improved significantly in all the areas. The circulation revenue of Talentum’s magazines was up 1% and advertising revenue 9%. The most significant factor in the growth in advertising sales was again the continued upturn in job advertising that started in the latter half of 2004. TV Content Production The January-September net sales of Varesvuo Partners Oy, which concentrates on TV Content Production, fell 7.2% and totalled EUR 15.3 million (EUR 16.5 million). The operating profit was EUR 0.3 million (EUR -0.3 million).


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

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TV Content Production continued to focus on producing TV programmes, as the demand for producing commercials has declined. During the first nine months the production of commercials contracted 22% and TV programme production 5% compared with the previous year. The net sales for the production of commercials in January-September totalled EUR 5.3 million (EUR 6.9 million), and for TV programme production EUR 7.2 million (EUR 7.7 million), and other net sales amounted to EUR 1.8 million (EUR 1.7 million). The net sales for the third quarter contracted 19% and the operating margin was 1.7% (-1.7%). Premedia The January-September net sales for the Premedia business sector totalled EUR 15.6 million (EUR 15.8 million), down 1.3% on the previous year. The operating profit was EUR 0.4 million (EUR 0.8 million). Premedia’s net sales rose by 2.8% in the third quarter. The operating margin was 0.6% (3.8%). Direct Marketing Direct Marketing’s net sales in January-September went up 2.6% and totalled EUR 5.4 million (EUR 5.2 million). The operating profit was EUR 0.9 million (EUR 0.9 million), i.e. 16.0% of the net sales (17.1%). In the third quarter, Direct Marketing’s net sales continued the upturn that began in the previous quarter. The growth in the third quarter was 21%, which was reflected favourably in the profitability. The operating margin in the third quarter was 13.4% (13.1%). Internet consulting On September 16, 2005 Talentum Oyj sold 23,170,000 shares in Satama Interactive Oyj, thereby reducing its holding on that date from about 60 per cent to around 3.8 per cent. 1,000,000 shares were sold in forward trade maturing in December 2005, whereupon the sale of these shares will be finally concluded and Talentum’s holding will be reduced to nil. The average price of the sold shares was EUR 1.0/share i.e. the selling price totalled EUR 23,170,000. A profit of EUR 10.5 million on the sale was recorded by Talentum in the third quarter of the year. Seasonal variations in the media markets There are seasonal variations in the media and media services markets, and business activity is strongest during the last quarter of the year. During the summer holiday season, not all of Talentum’s personnel resources are available and neither are magazines and books published as a rule. Customers usually make the bulk of their purchases in the last quarter of the year. Because of these features that are characteristic of the sector, Talentum’s quarterly net sales and profit in particular can vary considerably; these figures are bigger during the last quarter of the year than in other quarters, while the third quarter is generally lower than the first and second quarters. As a result of the considerable seasonal variations in publishing and especially the book business, the major share of their net sales and an even more significant share of the profit is accrued during the latter half of the year. It is therefore expected that the financial performance at the end of the year will be better than at the start of the year.


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 6(14 )

IMPORTANT EVENTS AFTER THE PERIOD UNDER REVIEW On October 6, 2005 Talentum Oyj acquired outright the Swedish magazine company Ekonomi & Teknik Förlag AB. The sellers of the company are the private equity fund Strukturfonden, which is managed by the Swedish finance group Catella, and Ingenjörsförlagets Förvaltnings AB, which is owned by the Swedish Association of Graduate Engineers and the Swedish Association of Engineers. The acquisition price was EUR 15.2 million (SEK 142 million), of which EUR 8.8 million (SEK 82 million) was paid in cash and EUR 6.4 million (SEK 60 million) in Talentum Oyj shares. 1,669,641 shares were issued in a targeted issue at a subscription price of EUR 3.855 (not the exact value; the subscription price is the computational average price on the Helsinki Stock Exchange between September 14 and October 4, 2005 weighted by the volume of trading in Talentum shares). The new shares were recorded in the Trade Register on October 13, 2005. The stock offered in the targeted issue represented 3.78% of Talentum’s total shares after the issue and will entitle its owners to a dividend for 2005. The sellers will be entitled to an additional EUR 2.15 million (SEK 20 million) maximum on the basis of net sales for 2005 and EBIT (earnings before interest and taxation) for the fourth quarter of 2005. In order to obtain the maximum additional selling price, the company will have to record net sales of SEK 165 million for 2005 and a profit margin of 13% for October-December 2005. EFFECTS OF THE ACQUISITION OF EKONOMI & TEKNIK FÖRLAG AB Talentum’s strategic position In accordance with Talentum Oyj’s strategic policy, the company structure will be developed by increasing its publishing business significantly so that a major part of consolidated net sales will be generated by publishing. Following this strategy, Talentum sold its holding in Satama Interactive last September. Acquiring Ekonomi & Teknik Förlag AB is a logical step in this direction that will increase publishing and expand it into new market areas.

Impact of the acquisition on net sales The acquisition of Ekonomi & Teknik Förlag AB will increase Talentum’s publishing operations by approximately 30%. In 2004, the consolidated net sales totalled EUR 16.6 million. Talentum’s operations in Finland are more diversified than those of E&T Förlag AB in Sweden and we believe that there are elements, for example in book publishing, online operations, and job advertising, that will enable business to expand in Sweden. In addition, international advertising sales is an area where operation will probably benefit both parties. Operational benefits of the deal Ny Teknik and Affarsvärlden, Ekonomi & Teknik Förlag AB’s major magazines, are so similar to those of Talentum that cooperation will generate operational benefits in both countries. Product development will be more successful together than separately. Economic impact of the deal As announced previously, the impact of the acquisition on Talentum’s performance in 2005 will be minor. E+T has recorded losses for the past few years, but much has been done to improve efficiency during the current year. In the opinion of


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 7(14 )

Talentum, these measures and the forthcoming cooperation with Talentum’s publishing operations will quickly make E+T’s operating result profitable. Talentum aims to promote product development and increase growth significantly, as a result of which the effect on the E+T’s performance will probably continue to be small in 2006. SHARES AND SHARE CAPITAL The entire share capital of Talentum Oyj at the end of the period under review comprised 42,551,176 shares and amounted to EUR 17,891,485.15. On September 30, 2005, Talentum Oyj and its subsidiaries held 181,000 company shares, or the equivalent of 0.4% of Talentum’s share capital and votes. Shareholdings of the Board of Directors and CEO On September 30, 2005, the number of Talentum Oyj shares and options owned by members of the Board of Directors and the CEO personally and through companies in which they have a controlling interest was 120,776, representing 0.3% of the company's total shares and votes. Board of Directors’ authorizations The Annual General Meeting on March 29, 2005 authorized the Board of Directors to decide, within one year of the meeting, on taking out one or several convertible bonds and/or issuing options and/or on increasing the share capital by a rights issue in one or several instalments, provided that the increase is no more than EUR 893,149 and that no more than 2,124,169 new shares are subscribed. The maximum increase in the share capital and the combined number of votes of the shares issued correspond to less than 5% of the company’s registered share capital and of the combined number of votes conferred by the shares. The Board of Directors has the right to decide on the subscription price, the grounds for determining the subscription price, other terms and conditions of the subscription price, and the other terms and factors relating to the rights issue, issuing of options and taking out of a convertible loan. The authorization includes the right to overrule the shareholders' right of preemption. The authorization can be exercised only for financing mergers and acquisitions. As of September 30, 2005, the authorization had not been exercised.

The Annual General Meeting on March 29, 2005 authorized the Board of Directors to decide, within one year of the meeting, on the acquisition of the company’s own shares using the company’s disposable funds in one or several instalments, but placed a limit of 2,124,169 on the maximum number of shares to be acquired, including the 181,000 shares acquired on the basis of previous acquisition authorizations. The limit is equivalent to less than 5% of the company’s registered share capital and combined votes conferred by the shares. The authorization includes the right to acquire shares in a manner other than in proportion to the shareholders’ holdings. As of September 30, 2005, the authorization had not been exercised. The Annual General Meeting on March 29, 2005 authorized the Board of Directors to decide, within one year of the meeting, on the relinquishment in one or several instalments of the company’s own shares acquired for the company, but placed a limit of 2,124,169 on the maximum number of shares to be relinquished. The limit is equivalent to less than 5% of the company’s registered share capital and combined votes conferred by the shares. The authorization includes


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 8(14 )

the right to relinquish shares in a manner other than in the proportion to the shareholders’ pre-emptive rights to acquire the company’s own shares. As of September 30, 2005, the authorization had not been exercised. Targeted issue for former owners of Suomen Arvopaperimediat Oy Talentum Oyj acquired the entire shareholding of Suomen Arvopaperimediat Oy, the publisher of the magazine Arvopaperi, pursuant to a share exchange agreement signed on July 9, 2004. Under the share exchange agreement, Talentum Oyj agreed to pay the shareholders of Suomen Arvopaperimediat Oy an additional purchase price provided that the conditions for this set out in the agreement are met. On March 17, 2005, Talentum Oyj and the former owners of Suomen Arvopaperimediat Oy agreed on March 17, 2005 that the additional purchase price set in the share exchange agreement will, contrary to the terms of the agreement, be paid in one instalment, after which the purchase price will have been paid in full. In order to pay the additional purchase price the Board of Directors of Talentum Oyj decided, on the basis of the authorization given by the Annual General Meeting of Talentum Oyj on March 24, 2004, to increase the share capital through a targeted rights issue of shares. In the targeted rights issue the share capital of the company may be increased by a maximum of EUR 28,506.17 by offering for subscription a maximum of 67,796 new shares in the company to the former owners of Suomen Arvopaperimediat Oy. The subscription price was EUR 2.95/share. In the issue targeted at the former owners of Suomen Arvopaperimediat Oy, 67,796 Talentum shares were subscribed. The increase of EUR 28,506.17 in the share capital was entered in the Trade Register on March 23, 2005. Targeted issue for former shareholders of E+T, Ekonomi och Teknik Förlag AB On October 5, 2005 the Board of Directors of Talentum Oyj decided, in order to pay the subscription price for the acquisition of the entire shareholding of Ekonomi och Teknik Förlag AB, to increase the share capital of the company by means of a targeted new issue on the basis of the authorization given by the Annual General Meeting on March 29, 2005. The subscription price was paid by contributions in kind so that the subscribers gave to Talentum Oyj, as consideration for the share subscriptions, their shares in Ekonomi och Teknik Förlag AB. The increase in the share capital was EUR 702,033.64 and the increase in the number of shares was 1,669,641. The increase in the share capital was entered in the Trade Register on October 12, 2005. After the increase, the share capital of Talentum Oyj rose to EUR 18,593,518.79, which is divided among 44,220,817 shares. OUTLOOK Profitability for the final quarter of the year will be good because the end of the year is traditionally strong in publishing at Talentum. The operating profit for the entire year will be unusually good because of the sale of Satama Interactive. GENERAL STATEMENT The forecasts and estimates presented here are based on the management’s current view of economic trends. The actual results may differ considerably from those expected at this time.


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

Net Sales 1000 EUR Net Sales Operating profit (adjusted) *) Financial income and expenses Share of profit of associates Adjusted profit before tax *) Operating profit on discontinued operations Profit before tax Income tax expense Profit after tax – ongoing activities Discontinued operations Profit for the period Attributable to: Equity holders of the parent Minority interest Earnings per share (EUR) Earnings per share, ongoing operations (EUR) Earnings per share, discontinued operations (EUR) *) Including discontinued operations

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 9(14 )

7-9/ 2005

7-9/ 2004

1-9/ 2005

1-9/ 2004

1-12/ 2004

19861 11935 -171 11 11775

19831 612 -22 13 603

68998 16525 -657 131 15998

67527 4712 30 213 4955

96431 9298 -295 308 9311

-10759 1016 -282 734 11283 12017

318 921 -477 445 -270 175

-11231 4768 -1263 3505 11500 15005

-375 4580 -1320 3260 584 3843

-640 8670 -2564 6106 863 6969

11720 297

293 -119

14431 574

3528 315

6280 690

0.28

0.01

0.34

0.09

0.15

0.02

0.01

0.08

0.08

0.14

0.26

0.00

0.26

0.01

0.01


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

Balance sheet 1000 EUR ASSETS Non-current assets Intangible assets Goodwill Tangible assets Investments in associates Deferred income taxes Other long term receivables and investments Total non-current assets

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 10(14 )

30.9.2005

30.9.2004

31.12.2004

2657 14769 7489 1281 1107

2638 10856 9884 1394 6206

2569 12748 9460 1234 5754

379 27682

1049 32027

1091 32855

Current assets Inventories Trade receivables and other receivables **) Cash and cash equivalents Total current assets

3525

1929

1878

14436 34988 52949

18196 25252 45377

15314 28418 45610

TOTAL ASSETS

80631

77404

78464

**) The receivable on the Satama Interactive Oyj divestment was 1 Meur SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders’ equity Share capital Share premium reserve Fair value reserve and other reserves Exchange differences Retained earnings Net income Total Minority interest Total equity

17891 166 15 83 -1210 14431 31376 1832 33209

8931 2632 7100 85 2796 3528 25073 9594 34667

17863 -4 7 84 -1252 6280 22977 9875 32852

Long term debt Short term debt

5948 41473

10939 31798

10552 35060

SHAREHOLDERS’ EQUITY AND LIABILITIES

80631

77404

78464

Interest bearing debt

25683

21052

21177


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

Cash flow statement (1000 EUR)

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 11(14 )

1-9/2005

1-9/2004

1-12/2004

Profit for the period Adjustments

15005 -6469

3843 4852

6969 7522

Change in working capital Net financial items and taxes Net cash from operating activities

-5194 -1378 1964

-4724 -915 3056

-1194 -1045 12253

Acquisitions of subsidiaries and associates Purchase of other non-current assets Other investments Sales of subsidiaries Sales of other non-current assets Net cash used in investing activities

-6057 -2399 -1188 16786 324 7466

-27 -3534 -882

-1069 -4359 -411

493 -3950

664 -5175

Issue of share capital Change in short term loans Change in long term loans Payment of finance lease liabilities Dividends paid and equivalents Other financing items Share repurchases Net cash used in financing activities

0 10000 -4174 -112 -6620 -230 -1724 -2860

3 10000 -8963 -130 -9634 -133

3 10000 -8772 -196 -13869 -829

-8857

-13663

6570

-9751

-6585

28418

35003

35003

34988

25252

28418

628 -2481 -1400

596 -977 -3163

1070 -1385 -3165

Net change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Including discontinued operations: Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Investments (1000 EUR) Investments in non-current assets, ongoing activities Investments in non-current assets, discontinued activities Total % of net sales

1-9/2005

1-9/2004

1-12/2004

5332

6120

7544

2876

368

1485

8208 9.3

6488 7.7

9029 7.5


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 12(14 )

1-9/2005

1-9/2004

1-12/2004

965 258 1224

897 257 1154

940 263 1203

296

268

281

30.9.2005 17220 3974 16120 2690

30.9.2004 17220 4459 6819 3219

31.12.2004 17220 4308 22924 3361

4485

4717

42354126 42370176

41793256 42298780

41793256 42298780

0.34

0.09

0.15

0.08

0.08

0.14

0.26 0.74 42.02

0.01 0.60 45.03

0.01 0.54 42.34

7-9/2004

1-9/2004

1-12/2004

Profit for the period before minority interest according to FAS

-463

1645

4460

Income taxes Leases Employee benefits Share-based payments Impairment of assets

59 -2 31 -222 771

-2 -12 95 -394 2 511

-228 -12 132 -653 3270

174

3 843

6969

293 -119

3528 315

6280 690

Average number of employees Talentum Group ***) Part-time telemarketing staff Total ***) Including employees of discontinued operations Contingent liabilities (1000 EUR) Given as security loans with securities as collateral Rental and other commitments ****) Leasing commitments ****) ****) Including the commitments of discontinued operations Number of shares Adjusted average number Number at the end of period Key figures Earnings per share, adjusted (EUR) Earnings per share, ongoing activities (EUR) Earnings per share, discontinued operations (EUR) Equity per share (EUR) Equity ratio, % RECONCILIATION OF NET PROFIT FOR COMPARISON PERIODS 2004 1000 EUR

Profit for the period according to IFRS Attributable to: Equity holders of the parent Minority interest


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STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

RECONCILIATION OF EQUITY FOR COMPARISON PERIODS 2004 1000 EUR Total equity incl. Minority interest according to FAS Effects of adopting IFRS: Income taxes Leases Employee benefits Financial instruments Impairment of assets Reversal of goodwill amortization Total equity according to IFRS

1.1.2004

30.9.2004

31.12.2004

46519

41062

38925

4322 85 -721 -1118 -11187

4097 73 -625 -1264 -11187 2511 34667

3640 71 -588 -1312 -11187 3303 32852

37901

STATEMENT OF CHANGES IN EQUITY

1000 EUR Equity 1.1.2004 Share-based payments Net income recognized directly in equity Profit for the period Dividends paid Issue of share capital Return of equity Equity 30.9.2004 Equity 31.12.2004 Share-based payments Net income recognized directly in equity Profit for the period Dividends paid Issue of share capital Other Equity 30.9.2005

Share premium Equity reserve 8759

391

Fair value reserve and other reserves 7204

Exchange Retained Minority Total differences earnings interest equity 86

-104

173

8899

12561

37901

236

158

394

-119

-29

-252

3528

315

3843

-6221

-329

-6550

2241

2414 -3082

-3082

8932

2632

7100

86

6323

9594

34667

17863

-4

7

84

5028

9875

32852

54

36

90

64

2

74

14431

574

15005

-6356

-265

-6621

-1

0

-8390

198 -8391

83

13221

1832

33209

8

28

17891

170

166

15


STOCK EXCHANGE RELEASE October 26, 2005 at 8.30 pm

TALENTUM OYJ Malminkatu 30 FIN-00100 Helsinki Tel.+358(0) 20 442 40 Fax +358(0)20 4424 130 www.talentum.com 14(14 )

TALENTUM GROUP - SUB SEGMENTS

1000 EUR Net Sales Publishing TV content production Premedia Direct marketing Internet consulting *****) Sales within Group Total -Discontinued operations Adjustments and eliminations Total Operating profit Publishing TV content production Premedia Direct marketing Internet consulting *****) Parent company and group items Capital gain on discontinued operations Total

7-9/ 2005

7-9/ 2004

1-9/ 2005

1-9/ 2004

1-12/ 2004

10464 3959 4724 1753 6591 -1141 26350 -6591 102 19861

9719 4856 4595 1449 4543 -789 24373 -4543 1 19831

35823 15341 15629 5369 19717 -3396 88483 -19717 232 68998

32729 16533 15841 5234 16947 -2872 84412 -16947 62 67527

48895 23168 21210 6885 23602 -3837 119923 -23602 110 96431

1343 68 27 234 271 -496

1 295 -566 177 191 -317 -167

5305 285 425 861 743 -1582

3889 -284 759 893 375 -920

7947 180 1204 1117 640 -1791

612

10488 16525

4712

0 9298

279 103 225 305 296 16 1224

245 120 200 304 268 17 1154

268 124 203 310 281 17 1203

10488 11935

Average number of employees Publishing TV content production Premedia Direct marketing Internet consulting *****) Group administration Total *****) Discontinued operations, gross The interim report is unaudited. FURTHER INFORMATION Harri Roschier, CEO, tel +358 (0)20 442 4220 Kai J채rvikare, CFO, tel +358 (0)40 342 4210 www.talentum.com

A press conference will be held today on Wednesday 26 October, 2005 for members of the press and analysts at 11.00 am at the hotel Radisson SAS Royal. The address is Runeberginkatu 2, Helsinki. The conference will be held in Finnish. COPIES TO Helsinki Stock Exchange Key media

Talentum Q3 2005 Interim Report  

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