Press releases

12.03
2020

Over PLN 708m in revenues at WP in 2019

Wirtualna Polska Holding S.A. generated net profit of PLN 71m in 2019. Revenues from sales increased by almost 25% to PLN 708m. The company’s growth rate was driven by both its results in the area of media and strengthening of its e-commerce brands. WP TV has the greatest market share among MUX8 terrestrial broadcasting TV stations. The beginning of 2020 is weaker than expectations in the area of foreign tourism due to the coronavirus spread.

In 2019 Wirtualna Polska consolidated its position of the largest Polish online publisher. Over 21m Poles used WP’s online products and services monthly. With regard to the media, revenues from sales were much above the market average. E-commerce companies recorded a dynamic growth in the scale of their operations, as outlined in the strategy. All that resulted in the growth of the Group’s revenues by one fourth to the level of PLN 708m, net profit exceeded PLN 71m, and adjusted EBITDA amounted to almost PLN 219m.

- Effective competition with global giants and fivefold growth of EBITDA at WP in recent years, to the level of PLN 200m, would not have been possible if we did not have both the media and e-commerce under single ownership. The common denominator and the most essential linking element has been and will remain technology. Every fourth Citizen of Wirtualna Polska Holding is an engineer - says Jacek Świderski, CEO of Wirtualna Polska Holding SA.

The following table presents the main positions of the income statement for the year ending 2019 and 2018.

PLN'000

Twelve months ending

31 December 2019

Twelve months ending

31 December 2018

Change

Change %

Segment ONLINE

 

     

Sales

688 379

550 816

137 563

25,0%

Cash sales

665 150

526 254

138 896

26,4%

Adjusted EBITDA (IAS 17)

214 670

178 721

35 949

20,1%

EBITDA (IAS 17)

205 195

168 726

36 469

21,6%

Adjusted EBITDA (IFRS 16)

223 282

-

 -

n/a

EBITDA (IFRS 16)

213 807

-

 -

n/a

Segment TV

 

     

Sales

20 321

16 500

3 821

23,2%

Cash sales

20 321

16 500

3 821

23,2%

Adjusted EBITDA (IAS 17)

(4 339)

(5 721)

1 382

(24,2%)

EBITDA (IAS 17)

(4 580)

(5 833)

1 253

(21,5%)

Adjusted EBITDA (IFRS 16)

(4 339)

-

 -

n/a

EBITDA (IFRS 16)

(4 580)

-

 -

n/a

Segments total

 

     

Sales

708 700

567 316

141 384

24,9%

Cash sales

685 471

542 754

142 717

26,3%

Adjusted EBITDA (IAS 17)

210 331

173 000

37 331

21,6%

EBITDA (IAS 17)

200 615

162 893

37 722

23,2%

Adjusted EBITDA (IFRS 16)

218 943

-

 -

n/a

EBITDA (IFRS 16)

209 227

-

 -

n/a

Amortization and depreciation of fixed assets and intangibles*

(79 282)

(55 622)

(23 660)

42,5%

Operating profit

129 945

107 271

22 674

21,1%

Result on financial activities

(31 092)

(13 833)

(17 259)

124,8%

Profit before tax

98 853

93 438

5 415

5,8%

Net profit

71 132

75 997

 (4 865)

(6,4%)

 

 

 

 

 

*In 2019, this position includes PLN 10,302 thousand depreciation of the right of use buildings in accordance with IFRS 16 (PLN 2,904 thousand in the fourth quarter).

The beginning of 2020 is difficult for the holding in the area of foreign tourism. Wakacje.pl is recording a trend of resignations from travel package buying as a result of the spread of the SARS-Cov-2 coronavirus, in particular to destinations where the highest numbers of virus cases have been diagnosed. This may be of material significance for WP’s financial results in the first half of 2020.

- At present it is difficult to estimate how long the current bad situation will continue and how it will affect the interest in travel in the following months. Nor can we precisely determine how it will affect the other areas of our activities. For example, it is difficult to estimate whether Polish people will be more willing to book their holidays in Poland, the beneficiary of which might be our company Nocowanie.pl. Wakacje.pl is responsible for over ten per cent of the holding’s financial resultsadds Jacek Świderski, CEO of Wirtualna Polska Holding SA.

Record-breaking results are generated by WP TV, which has been broadcasting for over 3 years. At the beginning of 2020 the company increased its share of the TV market by almost 80%, which is the best result among all terrestrial TVV stations in Poland. At the same time, for many months now WP TV has been the leader among stations on the MUX8 digital multiplex.

Wirtualna Polska is a technology holding, conducting activities as media and e-commerce operator. Jit owns the WP Main Page as well as a variety of specialist thematic services such as money.pl, WP SportoweFakty and autocentrum.pl. In the e-commerce sector WP operates in the area of tourism (incl. wakacje.pl, nocowanie.pl, eholiday.pl), fashion (domodi.pl, allani.pl), indoor decoration and equipment (homebook.pl) and house design (extradom.pl), financial services (totalmoney.pl) and automotive services (superauto.pl). According to Gemius/PBI survey, 21.1m Poles used WP’s online products in February 2020.

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WIRTUALNA POLSKA HOLDING S.A.

ul. Żwirki i Wigury 16
02-092 Warszawa
tel.: +48 22 57 67 900
fax: +48 22 57 67 901

REGON: 016366823
NIP: 5213111513