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November 15, 2024 / 07:30

FINANCIAL RESULTS OF THE AGORA GROUP IN THE 3Q 2024

In the third quarter of 2024, the Agora Group's revenue amounted to PLN 334.5 million, of which as much as PLN 176.3 million was revenue from the sale of advertising. The Group as a whole grew by 5.2%, with the Radio segment showing the highest dynamics. The company generated an EBITDA profit of PLN 43.7 million.¹

Agora Group's revenue from sales of advertising in the reported period amounted to PLN 176.3 million. In the Radio segment alone, they grew by 13.5% to nearly PLN 76 million, which was due to, inter alia, the introduction of a joint sales offer as a result of consolidation with the Eurozet Group and a change in price lists. The value of cinema advertising revenues increased by almost 15% to PLN 10 million during the period. In the Digital and Printed Press segment, advertising revenues increased slightly compared to the third quarter of 2023 and amounted to PLN 15.5 million. A 1.6% decrease in advertising revenue to more than PLN 30 million was recorded by the Internet segment, driven by lower online advertising sales by Yieldbird. Advertising sales revenue generated by Gazeta.pl was at a higher level than in the corresponding period of the previous year. Revenues from the sale of advertising services of the Outdoor segment also declined slightly in the third quarter of 2024.

In the third quarter of 2024, revenues from ticket sales in Helios cinemas fell by 21.2% to PLN 56.4 million and revenues from concession sales in cinemas by 10.3% to nearly PLN 36 million. During the period under review, 2.6 million tickets were sold in Helios cinemas, 23.5% less than in the same period last year. The lower attendance resulted, among others, from the so-called ‘repertoire gap’, which arose due to last year's strike of actors and scriptwriters in Hollywood, as well as the occurrence of the ‘Barbenheimer effect’ in the comparative base from last year. The low September attendance was most influenced by the flooding in southern Poland in the middle of that month. At the same time, it is worth noting the success of ‘Kleks Academy’, a film distributed by NEXT FILM, which after three quarters is in 2nd place in the Polish box office, second only to the global hit ‘Inside Out 2.’

In the third quarter of 2024, the value of revenues from publishing sales amounted to PLN 31 million and decreased by 6.3% compared to the same period of 2023. At the same time, higher revenues – by almost 13.2% – were generated by the Agora Publishing House, which during this period published such popular titles as ‘Criminal history of the Vatican’ („Kryminalna historia Watykanu”) by Artur Nowak and Arkadiusz Stempin, ‘Fate you inherit. How to free yourself from family traumas' by Noémi Orvos-Tóth or ’Autocracy Concern. Dictators who want to rule the world' by Anne Applebaum.

In the third quarter of 2024, the Agora Group's net operating expenses decreased by 0.8% to nearly PLN 335 million. The largest item among the Group's expenses in this period was the cost of third-party services, which amounted to almost PLN 116 million and was 5.9% lower than in the corresponding period of 2023.

Data source: Group IFRS consolidated financial statements for Q3 2024

Footnotes:

¹ Excluding the impact of IFRS 16, the Agora Group recorded an EBITDA profit of PLN 16.5 million in Q3 2024.

More information:

Krzysztof Mazur, IR Manager of the Agora Group

Anna Marucha, Corporate Communications Director of the Agora Group

e-mail: press@agora.pl, investor@agora.pl www.agora.p/en

Agora S.A. was founded in 1989; it has been listed on the Warsaw Stock Exchange since 1999. Its most important ventures are: Helios S.A. – operator of the largest cinema network in the country in terms of number of venues and owner of the film production and distribution company NEXT FILM; radio activity operating as Grupa Eurozet covering 9 stations from the TOP20 most listened to stations in Poland, created thanks to the joint forces of Agora Radio Group and Eurozet; AMS – leader of the Polish OOH market, as well as respected news media – Gazeta Wyborcza, the most popular opinion-forming newspaper in Poland and leader of the digital transformation of the Polish press, Gazeta.pl, which is among the top Polish portals. Agora's websites are among the leading ones in their categories in terms of popularity, such as Sport.pl, Moto.pl and Plotek.pl, available online and through mobile applications. The company publishes and distributes books, music and film releases.

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FINANCIAL RESULTS OF THE AGORA GROUP IN THE 3Q 2024