In the first quarter of 2026, the Agora Group reported higher revenue than in the previous year, with advertising sales increasing by nearly 12%. The company improved its EBITDA, posting a profit of PLN 53.7 million. The largest revenue growth was recorded in the outdoor advertising segment- up 25.5% – and Radio – up 17.1%.  

In the first quarter of 2026, the Agora Group’s total revenue amounted to PLN 364.7 million, up 4.4% from the first quarter of 2025. Revenues from the sale of the Group’s advertising services increased by 11.6% compared to the same period in 2025 and amounted to PLN 182.5 million. 

The business segment where advertising revenue grew the most and which contributed most significantly to the Group’s overall advertising revenue growth was the Outdoor Advertising segment. Advertising revenue in this segment rose by 25.7% to PLN 51.8 million. A significant growth driver was the acquisition of Synergic in the fourth quarter of 2025. The positive growth was most significantly influenced by revenue from campaigns carried out on digital media, citylight, and media systems at airports. 

Another segment in which advertising revenue in the first quarter of 2026 was higher than in the same period of the previous year was the Radio segment. Revenue from radio advertising sales increased by 13.2% to PLN 84.7 million. Revenues for the entire Radio segment rose by 17.1% compared to the first quarter of 2025, reaching PLN 97.0 million. These results were driven by higher revenues from the sale of the company’s own airtime and from brokerage services on other broadcasters’ stations. EBITDA, meanwhile, rose by 56.5% to PLN 21.6 million. The number of TOK FM Premium subscriptions sold increased to 52,800 by the end of the first quarter.

In the first quarter of 2026, the Movies segment recorded a profit both at the EBIT level – PLN 14.2 million – and at the EBITDA level – PLN 33.9 million. Revenue from ticket sales at Helios cinemas rose by 0.5% to PLN 65.4 million, while revenue from concession sales at cinemas increased by 3.9% to PLN 39.9 million, accompanied by a rise in advertising revenue at Helios cinemas. During the period in question, 2.9 million tickets were sold, representing a 3.3% decrease compared to the same period of the previous year. Revenues from film production and distribution were lower, amounting to PLN 15.2 million in the first quarter of 2026 compared to PLN 17.8 million a year earlier. NEXT FILM released four films in theaters: “Dziki”, “Wielka Warszawska”, “Piep*zyć Mickiewicza 3”, and “Za duży na bajki 3”.

Starting in the first quarter of 2026, as a result of organizational changes within the Agora Group, the book publishing business was removed from the Movies segment (formerly Movies and Books) and included in the The Digital and Print Press segment. In connection with this change, the comparative data for 2025 has been restated accordingly.

In the first quarter of 2026, total revenues for the The Digital and Print Press segment amounted to PLN 43.2 million, down 16.9% year-over-year. This decline was primarily driven by a decrease in revenue from the sale of printing services following the closure of the printing operations at the end of October 2025. Other revenue (mainly event organization), advertising revenue, and content sales revenue were also lower. The daily digital revenue in the first quarter of 2026 amounted to over PLN 16.0 million. This accounted for 50.6% of its total revenue, representing an increase of 3.9 percentage points compared to the same period a year earlier. The number of active paid digital subscriptions to “Gazeta Wyborcza” at the end of March 2026 stood at nearly 306,800. Revenue from book publishing increased by 3.3% compared to the first quarter of 2025, mainly due to revenue from the sale of digital products.

Total revenue for the Internet segment decreased by 0.4% compared to 2025 and amounted to PLN 25.7 million. Revenue from online advertising sales was 0.8% lower than in the first quarter of 2025 and amounted to PLN 23.4 million. Revenues from other Internet services were higher than in the corresponding period of the previous year. 

In the first quarter of 2026, the Agora Group’s net operating costs increased by 6.8% to PLN 366.2 million. Costs rose in the Outdoor Advertising, Film, Radio, and Internet segments, while a decrease in operating costs was recorded only in the Digital and Print Press segment.

In the first quarter of 2026, the Agora Group continued 1Digital – a strategic project shaping the company’s position online. Its goal is to expand the reach of the Group’s digital brands and develop a common, long-term strategy. The process involves the integration of editorial activities, the development of tools, and the establishment of common standards that will strengthen the position of digital brands in a rapidly changing media environment.

Data source: Agora Group’s consolidated financial statements in accordance with IFRS for Q1 2026.