Press releases

27.08
2019

Revenues up by 34%. Wirtualna Polska’s results for H1 2019

The growing number of users and development of the advertising and e-commerce offering has allowed WP to consolidate its leading position among Internet publishers in Poland. In H1 2019, Wirtualna Polska Holding S.A. generated sales revenues exceeding PLN 335 million. That’s 34% above the figure posted in the corresponding period of 2018.

Wirtualna Polska continues its strategy of strengthening its media business and developing e-commerce companies. The total sales revenues of Wirtualna Polska Holding S.A. in the online and TV segments increased year-on-year by 34%, reaching PLN 335 million. Operating profit rose by nearly one fifth, while net profit was PLN 22.8 million. In the first half of 2019, WP also posted good results of the advertising business.

The advertising market results published recently in the AdEX report are satisfactory for us for two reasons. First of all, the Internet has finally overtaken the TV, and secondly, it was one more quarter when Wirtualna Polska grew faster than its global competitorssays Jacek Świderski, CEO of Wirtualna Polska Holding S.A.

The following table presents the main positions of the income statement for the period of 6 months ending 30 June

2019 and 2018.

PLN'000

Six months ending
30 June 2019

Six months ending
30 June 2018

Change

Change %

ONLINE Segment

 

     

Sales

325,876

243,132

82,744

34.0%

Cash sales

315,551

233,019

82,532

35.4%

Adjusted EBITDA (IAS 17)

94,050

80,372

13,678

17.0%

EBITDA ( IAS 17)

92,673

77,515

15,158

19.6%

Adjusted EBITDA ( IFRS 16)

97,990

 -

 -

N/A

EBITDA ( IFRS 16)

96,613

 -

 -

N/A

TV Segment

 

     

Sales

9,632

6,922

2,710

39.2%

Cash sales

9,632

6,922

2,710

39.2%

Adjusted EBITDA (IAS 17)

 (3,061)

 (4,398)

1,337

(30.4%)

EBITDA ( IAS 17)

 (3,082)

 (4,464)

1,382

(31.0%)

Adjusted EBITDA (IFRS 16)

 (3,061)

 -

 -

N/A

EBITDA (IFRS 16)

 (3,082)

 -

 -

N/A

Segments total

 

     

Sales

335,508

250,054

85,454

34.2%

Cash sales

325,183

239,941

85,242

35.5%

Adjusted EBITDA (IAS 17)

90,989

75,974

15,015

19.8%

EBITDA (IAS 17)

89,591

73,051

16,540

22.6%

Adjusted EBITDA (IFRS 16)

94,929

 -

 -

N/A

EBITDA (IFRS 16)

93,531

 -

 -

N/A

Amortisation and depreciation of tangible and

intangible assets

 (37,856)

 (26,571)

 (11,285)

42.5%

Operating profit

55,675

46,480

9,195

19.8%

Result on financial activities

 (20,479)

 (8,973)

 (11,506)

128.2%

Profit before tax

35,196

37,507

 (2,311)

(6.2%)

Net profit

22,836

27,731

 (4,895)

(17.7%)

 

Wirtualna Polska is developing marketing automation and DAI (Dynamic Ad Insertion) technologies, which increase its capacity to develop reach and improve personalization of both display and video ads. DAI has been implemented in the WP Pilot service, for the time being in WP TV (“Telewizja WP”). According to the latest analyses, the vievability ratio of the ads displayed in this manner reaches as much as 93%.

Wirtualna Polska is a media and e-commerce holding group. It owns the WP horizontal portal and it also operates specialized topical websites such as money.pl, WP SportoweFakty and WP abcZdrowie. In the e-commerce sector, WP operates in the area of travel (among others wakacje.pl, nocowanie.pl, eholiday.pl), fashion (domodi.pl and allani.pl), interior design (homebook.pl), house design (extradom.pl), financial services (totalmoney.pl) and the automotive sector (superauto24.com). According to a Gemius/PBI survey, more than 20.9 million Poles used WP’s internet products in July 2019.

The full report containing financial results is available at http://inwestor.wp.pl/en/

 

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WIRTUALNA POLSKA HOLDING S.A.

ul. Jutrzenki 137 A
02-231 Warszawa
tel.: +48 22 57 67 900
fax: +48 22 57 67 901

REGON: 016366823
NIP: 5213111513