For the media group Ekspress Group, 2020 was a successful year: regardless of the emergency situation and uncertain economical situation, the media group managed to improve its profitability.
Ekspress Group's net income decreased by 80 percent to €2.5 million. The profit before taxes and the amortization was €7 million in 2020 increased by three percent compared to 2019.
The group's 12 month consolidated sales revenue decreased by 6 percent in 2020 to €63.2 million compared to 2019. The decrease in turnover mainly came from the effect of the emergency situation of the second quarter of the year, the company announced.
At the same time, the media group continued growing its digital income. Its part was already 49 percent of the total turnover by the end of December and 71 percent of the media segment turnover.
Orders of the digital media publications of the group increased b y 73 percent in the Baltic states and reached over 81,000 in December.
Chairwoman of the group's board, Mari-Liis Rüütsalu, said that 2020 was groundbreaking regarding digital orders. "The main for reason for the increase is the change in people's habits and behavior and the changes in society. Paying for quality digital content has become a norm."
As the future extent of the crisis due to the corona effects in 2021 is still unknown, the Group's Management Board proposes to maintain liquidity positions and not to distribute the profit for the financial year 2020.
Ekspress Grupp is a media group whose main activities include the production of web media content, the publishing of newspapers and magazines, and the provision of printing services in Estonia, Latvia and Lithuania. Ekspress Grupp, which started in 1989 and over 1,600 people work there.
Editor: Roberta Vaino