The revenue of AS Ekspress Grupp increased by almost 10 per cent 31.10

The revenue of the leading Baltic media group AS Ekspress Grupp increased by almost 10 per cent in the third quarter of this year, supported by digital revenue, and the company earned a small profit while its EBITDA more than doubled.

According to the quarterly interim report of AS Ekspress Grupp, the Group’s revenue totalled EUR 16.8 million in the 3rd quarter and EUR 53.6 million in the first 9 months of the year. Revenue increased by 8% as compared to last year and by 8% in the first 9 months of the year.

According to Mari-Liis Rüütsalu, Chairman of the Management Board of Ekspress Grupp, revenue growth was primarily driven by digital revenue that increased by 17 per cent as compared to last year and made up 58 per cent of the media segment revenue. “Strong advertising sales and a higher volume of digital subscriptions in Estonia propelled this growth”, stated Rüütsalu. The revenue of the Group’s media companies increased by more than 12 per cent in the first 9 months of the year.

The EBITDA of Ekspress Grupp totalled EUR 1.41 million in the 3rd quarter and EUR 3.88 million in the first 9 months of the year. In the 3rd quarter, EBITDA increased by 117 per cent as compared to the same period last year and by 30 per cent in the first 9 months of the year. In the 3rd quarter, the company earned of profit of EUR 0.02 million but incurred a loss of EUR 0.24 million in the first 9 months of the year due to the previous two quarters.

“As an important innovation, Delfi Lithuania launched the sale of paid content in the 3rd quarter and we also launched a linear television channel in the Lithuanian market in collaboration with Telia. The sale of paid content launched in Latvia in the 2nd quarter has been well received in the market, meeting our expectations. It should be kept in mind that the sale of paid content is a long-term process and it takes time to change consumer habits, primarily in Latvia and Lithuania where consumers have previously had no experience with paid content of local media”, said Rüütsalu. 

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