May 23, 2025 / 07:31
In the first quarter of 2025, the Agora Group achieved record advertising revenues for the period. Outdoor, cinema and print advertising in particular contributed to their growth, showing a higher growth rate than the market. Higher total revenues than a year earlier were recorded by the Outdoor Advertising and Radio segments. The company's EBITDA profit was PLN 53 million, and EBIT profit was PLN 6.4 million.1
In the first quarter of 2025, Agora Group's total revenues amounted to PLN 349.3 million. Revenue from the sale of the Group's advertising services increased by 3.7% compared to the same period of 2024, and amounted to PLN 163.6 million.
The business in which advertising revenues increased the most and which contributed most strongly to the growth in advertising revenues of the entire Group was the Outdoor Advertising. Advertising revenues of this segment increased by 12% to PLN 41.2 million. Their positive dynamics was driven most significantly by revenues from campaigns carried out on digital, citylight and city transport panels. AMS remains the leader of the OOH market in Poland and the fastest growing player on the digital OOH market – the company's revenues in this area increased by as much as 40% year-on-year.
Radio was another segment where advertising revenues in the first quarter of 2025 were higher than in the same period last year. Revenues from radio advertising sales increased by 4.8% to PLN 74.8 million. The segment's digital revenues were also higher, up 11.5% compared to the first quarter of 2024. Both online advertising revenues and revenues from the sale of TOK FM premium subscriptions increased. The radiozet.pl website is the leader among radio station websites, with over one million more real users than rmf.fm.2
In the first quarter of 2025, the Movies and Books segment recorded a profit at both the EBIT level – 17.9 million – and the EBITDA level – 39.2 million. Revenue declined in cinema operations, which nevertheless accounted for the segment's largest revenue category. Revenues from ticket sales and concession sales declined, while revenues from advertising sales at Helios cinemas increased. The lower result than last year has to do with the high comparative base from the first quarter of 2024, when the movies “Kleks Academy” (2.5 million viewers) and “Dune 2” (1.5 million viewers) had high attendance in theaters. According to Helios estimates, the number of tickets sold in Polish cinemas in the first quarter of 2025 was 13 million, down by 17.7% year-on-year.3 Revenues of the Agora Publishing House also increased.
In the first quarter of 2025, the Digital and Printed Press segment reported higher operating results at both the EBIT and EBITDA levels compared to the same period in 2024. The main factor that positively impacted these results was the decline in operating expenses. Meanwhile, Gazeta Wyborcza maintained its position as the leader in terms of sales among opinion dailies. The segment also recorded higher advertising sales revenues – up by 6.3%, mainly due to higher advertising revenues in the paper version of the daily.
In the first quarter of 2025, the Agora Group's net operating expenses fell by almost 6% to PLN 342.9 million.4 The Digital and Printed Press, the Movies and Books, and the Internet segments recorded declines in operating expenses during the period.
Data source: consolidated financial statements of the Agora Group for Q1 2025
Footnotes:
1 Excluding the impact of IFRS 16, the Agora Group recorded an EBITDA profit of PLN 24.9 million in the first quarter of 2025. On the same basis, EBIT loss amounted to PLN 0.4 million.
2 Mediapanel/Gemius data, April 2025.
3 Attendance in Polish cinemas - Helios estimates.
4 Excluding the impact of IFRS 16, the Agora Group's net operating expenses in the first quarter of 2025 amounted to PLN 349.7 million and were 5.7% lower than costs incurred in the first quarter of 2024.
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