- Kino Polska Group earned revenues of 229.2 million PLN (+6.7% y/y) by the end of Q3 2024.
- Advertising revenues increased by 31.8% y/y, making up 42.5% of all revenues of the Group at the end of Q3 2024.
- Broadcasting revenues grew by 0.2% y/y, and accounted for 49.5% of the Group’s total sales.
- The Group’s net profit rose to 51.6 million PLN (+58.9% y/y), and EBITDA reached 112.4 million PLN (+28.2% y/y).
- Net profitability was 22.5% vs. 15.1% a year earlier.
- Revenues from international markets reached 64.6 million PLN (-12.7% y/y) accounting for 28.2% of the Group’s total revenues.
- EBITDA margin was 49.1% vs. 40.9% a year earlier (+8.2 p.p. y/y).
- The average audience share for the Group’s channels was 2.64% (SHR%, All 16-59, Consolidated Live +2 d. + OOH), a 2.5% increase y/y.
“The results for the first three quarters of this year reflect both dynamic revenue growth and operational efficiency of Kino Polska Group and its business segments. We are particularly pleased that all segments, from January to the end of September, achieved profitability. In advertising-based activity, we recorded significant revenue growth, driven both by better viewership results and higher advertising sales prices. The provisions of the brokerage agreement negotiated last year, which are in effect until the end of 2025, and changes in the schedules of the channels, are proving successful,” says Katarzyna Woźnicka, a member of the board of Kino Polska Group, CFO and COO at SPI International B.V.
Financial results of key business segments
By the end of Q3 2024, the largest revenue increases in Kino Polska Group were in the Stopklatka segment (+12.6 million PLN, +41.5% y/y), which generated a total of 42.9 million PLN from advertising sales and ended the third quarter of 2024 with a positive net result of 6.8 million PLN, compared to a loss a year earlier. Advertising sales revenues in the Zoom TV segment amounted to 23.1 million PLN (+5.2 million PLN, +29.4% y/y), making it profitable for the first three quarters of the current year, although the third quarter of 2024 closed with a small loss. The FilmBox brand film channels and thematic channels segment generated revenues of 118.9 million PLN, including broadcasts and advertising sales (+3.6 million PLN, +3.1% y/y). The Kino Polska brand channels segment achieved sales of 26.2 million PLN (+1.8 million PLN, +7.5% y/y).
Sales in the television channels production segment exceeded 6.2 million PLN from January to September 2024, an increase of 3.2 million PLN (+106.2% y/y), largely due to cooperation with the CANAL+ Group on its foreign channels.
In the licensing rights sales segment, revenues amounted to 10.2 million PLN (-55.0% y/y). As in previous quarters, the comparison to last year when sales of licenses to a foreign related company outside the Group were conducted with a small margin is visible. Since 2024, such sales have been abandoned, resulting in an increase in the segment’s profitability from 9.1% to 20.9% and a net profit increase of 3.7% compared to the first three quarters of last year.
Revenues from international markets totaled 64.6 million PLN (-12.7% y/y), mainly due to the aforementioned changes in license sales.
Viewership growth of major channels in Poland
Aggregated, by the end of Q3 2024, Kino Polska Group’s channels reached a total of 2.64% share in the commercial viewership, a 2.5% increase compared to the same period in 2023 (SHR%, All 16-59, Consolidated Live +2 d. + OOH). Stopklatka achieved a share in commercial viewership of 1.3%, recording a 5.1% increase compared to the same period in 2023. The Zoom TV channel from January to the end of September achieved a share in commercial viewership of 0.6 %, an increase of 0.5% y/y. The Kino Polska channel recorded a share in commercial viewership of 0.3%, a decrease of 16.0% compared to the same period in 2023. Kino TV had a share in commercial viewership of 0.3%, an increase of 20.1% y/y. Kino Polska Music Station in the first three quarters of 2024 recorded a share in commercial viewership of 0.06%, a decrease of 3.1% y/y.
Kino Polska Group presents consolidated viewership data with a 2-day time shift and OOH (out of home) data. The presented data are fully comparable with the same period last year as the data for Q3 2023 were also supplemented with the OOH parameter.
Source: https://managerplus.pl/grupa-kino-polska-zwieksza-przychody-i-poprawia-rentownosc-zysk-netto-po-iii-kw-2024-r-w-gore-o-589-r-r-do-516-mln-zl-61792
