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WYNIKI FINANSOWE GRUPY AGORA W 3. KWARTALE 2023 R.

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WYNIKI FINANSOWE GRUPY AGORA W 3. KWARTALE 2023 R.

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    Company data

    AGORA S.A.
    Czerska 8/10 Street
    00-732 Warszawa

    AGO 0,36%
    mWIG40 0,5%
    WIG-MEDIA 0,13%

    Regon: 11559486
    Numer KRS: 59944
    NIP: 526-030-56-44

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    January 9, 2024 / 12:04

    3/2024 Initiation of consultation procedure on downsizing at Agora S.A.

    Regulatory filing

    The Management Board of Agora S.A. with its registered seat in Warsaw ("Company") hereby informs that on January 9, 2024, in accordance with the Act of March 13, 2003 on Special Rules for Termination of Employment for Reasons Not Attributable to Employees, resolved to initiate the consultation on group layoffs with the trade unions operating in the Company. Additionally, in accordance with the Act of April 7, 2006 on informing and consulting employees, the Company's works council shall also be consulted on the group layoff process.

    The intention of the Company is to lay off up to 190 employees of the Company in the fields of Digital and Printed Press and Internet (which constitutes ca. 14.15% of employees of the Company as of January 9, 2024) between February 5 and March 31, 2024.

    The reason for the planned group layoffs in the field of Digital and Printed Press are market factors resulting from the steady downward trend in sales of printed press connected with the outflow of readers to other communication channels, whereas the reason for the group layoffs in the field of Internet is a clear deterioration in revenue from advertising sales in the open market model and the rise of global platforms. Due to these factors, the Company must take measures aiming at adapting to the changing market environment and customer expectations and the restructuring is an essential condition to stabilize the financial situation of the Digital and Printed Press and Internet, and to ensure stability, development and market position in the coming years.

    The Company shall go through these difficult changes in a thought out manner and with care for its employees, offering the dismissed employees statutory severance payments and additional benefit, the amount of which shall be the subject of consultations with the trade unions.

    On January 9, 2024 the Management Board of the Company shall request the trade unions operating at the Company and the Company's works council to join in the consultation on collective redundancy process and shall provide the relevant Labor Office with information on the intention to execute group layoffs in the Company.

    The Company shall publish a regulatory filing on collective redundancies after the process of consultation with trade unions and works council operating at the Company, as required by the law, is finalized. This regulatory filing shall also include information on the estimated amount of provision related to the restructuring of employment in Agora S.A. which will be fully charged to the result of the Company and of Agora Group in the 1st quarter of 2024. The final data regarding the amount of the provision and the effect of employment restructuring on the financial results of the Company and of Agora Group shall be published in the financial statements of the Company and of Agora Group for the 2nd quarter of 2024.

     

    Legal basis: article 17, paragraph 1 of the Regulation of the European Parliament and Council Regulation (EC) No. 596/2014 of April 16, 2014 on market abuse (Regulation on Market Abuse) and repealing Directive 2003/6/EC of the European Parliament and of the Council and the Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (Acts. Office. EC L 173, 06.12.2014).

     

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