PMPG Polish Media, a media holding company listed on the main Warsaw Stock Exchange, has published its results for the first half of 2024. For the period in question, the Group recorded PLN 16.7 million in sales revenues. However, it also reported a negative EBITDA result and net profit of -2.6 million and -3.2 million PLN, respectively. Despite these weaker results, which are noticeable in the media industry, PMPG notes growth in its new and strategic projects.
Katarzyna Gintrowska, President of PMPG Polish Media, states: “Lower advertising revenues, resulting from economic slowdown, have motivated us to work harder on optimizing key business projects and implementing new ones that will quickly generate broad reach, and consequently attract new users and advertisers. One of such reach projects is smaki.pl, a website launched in March. According to data from the Gemius Mediapanel, by August it was already one of the 10 most frequently visited Polish culinary portals. In August, we also launched a new portal on medical topics – newsmed.pl.”
Recently, PMPG Polish Media has also been working to strengthen the position of strategic projects. The objective of such activities is both to strengthen the brand in the media market and to raise capital for development.
Gintrowska adds: “For many years, the weekly Do Rzeczy has been recognized as one of the most opinion-forming periodicals in Poland. This is why we recently came up with the idea to launch new projects under the Do Rzeczy brand, such as a radio channel. To raise capital for these developments, we decided to debut Orle Pióro, the publisher of the weekly, on the New Connect market. Therefore, in April, Orle Pióro was transformed from a limited liability company into a joint-stock company, which is the first step in preparing for the company’s IPO. Investors can expect more news in 2025.”
Efficient implementation of strategic objectives is key to the Group’s future.
Source: https://managerplus.pl/pmpg-polskie-media-z-nizszymi-przychodami-i-strata-w-i-pol-2024-roku-99074
