(MENAFN- GlobeNewsWire - Nasdaq) AS Ekspress Grupp informs that its Latvian subsidiary AS Delfi has received notice that SIA Ekis & Co-Positioning and Consulting has filed an insolvency application against Delfi in relation to a contractual dispute over advertising services in news portal LA.

Ekspress Grupp wishes to clarify that this is a standard commercial dispute regarding contested invoices that should be resolved through normal legal channels, not through insolvency proceedings. Delfi Latvia has legitimate concerns and has requested verification of calculation methods used for invoicing.

The amount of the claim in question is 200,000 euros. The dispute has no impact on Delfi Latvia's everyday operations and this matter has no material impact on the financial position or operations of Delfi Latvia or the broader Ekspress Grupp. The management is taking appropriate legal steps to resolve this matter dispute efficiently.

AS Delfi (Latvia) is an important part of the Baltic region's largest media group. The company's revenue in 2024 was 5.5 million euros with a profit of 594,281 euros. The company fulfills all its contractual obligations, including state-funded media projects.

Mari-Liis Rüütsalu
AS Ekspress Grupp, CEO
+372 512 2591
...

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 Latvia and Estonia, offers digital outdoor screen service in Estonia and Latvia. In addition, the Group companies organize conferences, trainings and events mainly in Estonia and Lithuania but also in Latvia. Ekspress Grupp launched its operations in 1989 and employs about 1000 people.

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