Estonia, Markets and Companies
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Friday, 19.04.2024, 21:46
FY profit of Ekspress Grupp fell 33% to EUR 3 mln
The company's revenue grew 1% to 54.1 mln euros, while
earnings before interest, taxes, depreciation and amortization (EBITDA)
declined 14 % to 6.3 mln euros. The EBITDA margin decreased from 12.7% in the
previous year to 11.6 %, the company told the stock exchange.
The company's board has proposed paying 7 cents of dividend
per share, or a total of 2.1 mln euros, for the 2017 financial year.
Ever-increasing price competition in the printing services
segment, declining margins, lower delivery volumes of the home delivery company
and increasing staff costs had an impact on the company's results. Significant
impairment loss of books in the balance sheet of Ajakirjade Kirjastus, that had been published a few years earlier
and the circulations of which had been way too optimistic, had to be
recognized.
At the same time, online revenues grew in all countries and
by a total of 16% in the group. Digital subscription revenue increased by
almost 50 %. Online revenue now makes up almost 33% of the group's total
revenue.
Last year Ekspress
Grupp made major investment decisions and this year should show the first
results, the company said. In the media sector Ekspress Grupp is witnessing steady growth in all its companies and
this year it will focus on increasing the revenue from digital subscribers.