Estonia: Ekspress Grupp’s revenue up 18%, profit down 71% in H1/2023

Estonian media group Ekspress Grupp posted revenue of EUR 35.3mn in the first half of 2023, which was up 18% from EUR 29.8mn in the same period of 2022, GlobeNewswire reports. Digital revenue rose by 28%, accounting for 82% (76%) of total revenue. Ekspress Grupp had 175,400 digital subscribers at the end of June 2023, which was 24% more than a year earlier. Six-month EBITDA amounted to EUR 3.6mn (up 25%) and net profit to EUR 0.2mn (down 71%). In the second quarter of 2023, the group’s revenue totalled EUR 18.5mn, which was up 13% from EUR 16.4mn a year earlier. Quarterly EBITDA amounted to EUR 2.4mn (up 8%) and net profit to EUR 0.6mn (EUR 1.3mn).