
AS Ekspress Grupp: Consolidated Unaudited Interim Report For Q2 And 6 Months Of 2024
(EUR thousand) | Sales | ||||||
Q2 2024 | Q2 2023 | Change % | 6M 2024 | 6M 2023 | Change % | 12 months 2023 | |
Media segment | 19 607 | 18 766 | 4% | 35 813 | 35 634 | 1% | 73 365 |
advertising revenue | 11 579 | 11 124 | 4% | 20 379 | 20 805 | -2% | 42 074 |
subscriptions (incl. single-copy sales) | 5 034 | 4 658 | 8% | 10 077 | 9 219 | 9% | 19 016 |
marketplaces | 754 | 603 | 25% | 1 664 | 1 239 | 34% | 3 434 |
outdoor screens | 1 269 | 837 | 52% | 2 052 | 1 526 | 34% | 3 530 |
sale of other goods and services | 971 | 1 543 | -37% | 1 641 | 2 845 | -42% | 5 311 |
Corporate functions | 184 | 1 081 | -83% | 354 | 2 308 | -85% | 2 642 |
Inter-segment eliminations | (161) | (1 320) | (316) | (2 658) | (2 920) | ||
TOTAL GROUP | 19 631 | 18 528 | 6% | 35 851 | 35 283 | 2% | 73 086 |
incl. revenue from all digital channels | 17 651 | 15 412 | 15% | 31 319 | 28 796 | 9% | 60 460 |
% of revenue from all digital channels | 90% | 83% | 87% | 82% | 83% |
(EUR thousand) | EBITDA | ||||||
Q2 2024 | Q2 2023 | Change % | 6M 2024 | 6M 2023 | Change % | 12 months 2023 | |
Media segment | 3 388 | 2 643 | 28% | 4 302 | 4 121 | 4% | 11 695 |
Corporate functions | (363) | (240) | -51% | (841) | (561) | -50% | (1 477) |
Inter-segment eliminations | 18 | (4) | 22 | (8) | (1) | ||
TOTAL GROUP | 3 042 | 2 399 | 27% | 3 484 | 3 552 | -2% | 10 217 |
EBITDA margin | Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023 | 12 months 2023 |
Media segment | 17% | 14% | 12% | 12% | 16% |
TOTAL GROUP | 15% | 13% | 10% | 10% | 14% |
Consolidated statement of financial position (unaudited)
(EUR thousand) | 30.06.2024 | 31.12.2023 |
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 5 512 | 9 606 |
Trade and other receivables | 14 898 | 13 143 |
Corporate income tax prepayment | 150 | 24 |
Inventories | 342 | 321 |
Total current assets | 20 903 | 23 094 |
Non-current assets | ||
Other receivables and investments | 1 752 | 1 628 |
Deferred tax asset | 132 | 130 |
Investments in joint ventures | 973 | 851 |
Investments in associates | 2 243 | 2 197 |
Property, plant and equipment | 10 111 | 10 384 |
Intangible assets | 67 996 | 67 482 |
Total non-current assets | 83 207 | 82 672 |
TOTAL ASSETS | 104 110 | 105 766 |
LIABILITIES | ||
Current liabilities | ||
Borrowings (Note 5) | 3 082 | 4 353 |
Trade and other payables | 24 206 | 23 046 |
Corporate income tax payable | 16 | 39 |
Total current liabilities | 27 304 | 27 438 |
Non-current liabilities | ||
Long-term borrowings | 21 793 | 21 765 |
Other long-term liabilities | 22 | 22 |
Total non-current liabilities | 21 815 | 21 787 |
TOTAL LIABILITIES | 49 118 | 49 225 |
EQUITY | ||
Share capital | 18 576 | 18 478 |
Share premium | 14 277 | 14 277 |
Treasury shares | (5) | (1 057) |
Reserves | 2 364 | 2 285 |
Retained earnings | 19 779 | 22 558 |
TOTAL EQUITY | 54 991 | 56 541 |
TOTAL LIABILITIES AND EQUITY | 104 110 | 105 766 |
Consolidated statement of comprehensive income (unaudited)
(EUR thousand) | Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023 | 12 months 2023 |
Sales | 19 631 | 18 528 | 35 851 | 35 283 | 73 086 |
Cost of sales | (14 689) | (14 107) | (28 258) | (27 748) | (55 046) |
Gross profit | 4 941 | 4 422 | 7 593 | 7 535 | 18 040 |
Other income | 132 | 110 | 289 | 181 | 581 |
Marketing expenses | (823) | (791) | (1 680) | (1 362) | (2 803) |
Administrative expenses | (2 561) | (2 376) | (5 396) | (4 927) | (9 582) |
Other expenses | (73) | (120) | (95) | (140) | (737) |
Operating profit /(loss) | 1 617 | 1 245 | 711 | 1 287 | 5 499 |
Interest income | 25 | 10 | 61 | 19 | 60 |
Interest expenses | (451) | (347) | (908) | (677) | (1 499) |
Other finance income/(costs) | (12) | (11) | (22) | (21) | (55) |
Net finance cost | (439) | (347) | (870) | (679) | (1 494) |
Profit/(loss) on shares of joint ventures | 83 | (242) | 122 | (795) | (661) |
Profit/(loss) on shares of associates | 169 | 2 | 250 | 130 | 239 |
Profit /(loss) before income tax | 1 430 | 658 | 212 | (57) | 3 583 |
Income tax expense | (406) | (46) | (409) | (62) | (232) |
Net profit /(loss) for the reporting period | 1 025 | 612 | (197) | (118) | 3 351 |
Net profit /(loss) for the reporting period attributable to | |||||
Equity holders of the parent company | 1 025 | 613 | (197) | (120) | 3 349 |
Minority interest | 0 | (1) | 0 | 2 | 2 |
Total comprehensive income /(loss) | 1 025 | 612 | (197) | (118) | 3 351 |
Comprehensive income /(loss) for the reporting period attributable to | |||||
Equity holders of the parent company | 1 025 | 613 | (197) | (120) | 3 349 |
Minority interest | 0 | (1) | 0 | 2 | 2 |
Earnings per share (euro) | |||||
Basic earnings per share | 0.0332 | 0.0205 | (0.0064) | (0.0040) | 0.1113 |
Diluted earnings per share | 0.0332 | 0.0199 | (0.0064) | (0.0039) | 0.1081 |
Consolidated cash flow statement (unaudited)
(EUR thousand) | 6M 2024 | 6M 2023 | 12 months 2023 |
Cash flows from operating activities | |||
Operating profit /(loss) for the reporting year | 711 | 1 287 | 5 499 |
Adjustments for (non-cash): | |||
Depreciation and amortisation | 2 773 | 2 265 | 4 719 |
(Gain)/loss on sale, write-down and impairment of property, plant and equipment | 10 | (4) | 387 |
Change in value of share option | 0 | 16 | 26 |
Cash flows from operating activities: | |||
Trade and other receivables | (1 882) | (5 409) | (1 539) |
Inventories | (21) | 26 | (35) |
Trade and other payables | 895 | 6 885 | 4 921 |
Income tax paid | (559) | (108) | (263) |
Interest paid | (669) | (540) | (1 476) |
Net cash generated from operating activities | 1 258 | 4 420 | 12 239 |
Cash flows from investing activities | |||
Acquisition of subsidiaries/ associates (less cash acquired) and other investments / cash paid-in equity-accounted investees | 0 | (949) | (1 469) |
Receipts of other investments | 0 | 13 | 13 |
Interest received | 60 | 2 | 28 |
Purchase of property, plant and equipment and intangible assets | (2 008) | (1 232) | (3 391) |
Proceeds from sale of property, plant and equipment and intangible assets | 5 | 3 | 275 |
Loan repayments received | 4 | 0 | 8 |
Dividends received | 204 | 674 | 674 |
Net cash used in investing activities | (1 735) | (1 489) | (3 862) |
Cash flows from financing activities | |||
Dividends paid | (1 848) | (1 488) | (1 488) |
Payment of lease liabilities | (1 142) | (940) | (2 004) |
Repayments of bank loans | (1 122) | (840) | (1 727) |
Proceeds from share issuance | 98 | 0 | 0 |
Proceeds from sale of treasury shares | 397 | 0 | 0 |
Purchases of treasury shares | 0 | (1 000) | (1 000) |
Net cash used in financing activities | (3 617) | (4 268) | (6 219) |
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS | (4 094) | (1 337) | 2 158 |
Cash and cash equivalents at the beginning of the period | 9 606 | 7 448 | 7 448 |
Cash and cash equivalents at the end of the period | 5 512 | 6 111 | 9 606 |
Argo Rannamets
CFO
AS Ekspress Grupp
E-mail address: ...
AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production, and publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket sales offices in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and employs almost 1100 people.
Attachment
-
EG_II_kvartal_2024_ENG


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment