Estonia, Good for Business, Markets and Companies

The concern's head Gunnar Kobin wrote in the annual report that despite the setbacks that hit the advertising market in the 2nd half of the year, it was a solid year of growth for the group. he added that improved financial mainly derived from restructuring activities carried out in prior years which had a major economic effect. In addition to successful business operations, net profit growth was also greatly impacted by the agreement to refinance the group’s loans concluded in mid-year which considerably reduced the group’s interest expenses.

In 2012, the group’s sales increased by 4% and totalled 59.7 million euros.

EBITDA increased by 14% in a year, totalling EUR 7.9 million.

In a year, the share of the online media segment in non-group sales increased from 15% to 17%, and the share of EBITDA from 18% to 20%. The share of the periodicals segment in sales has decreased from 42% to 40%, but the share in EBITDA has increased from 7% to 10%. The share of the printing services segment has remained unchanged and makes up 43% of sales while the share of EBITDA has decreased from 75% to 70%. These changes are attributable to continued strong online sales and also to improved profitability of the periodicals segment, Kobin said.

Kobin noted about this year that most likely the fall of sales revenues of printed media will fall but that of web media will increase.