Revenue Agor Capital Groupand in the second quarter of 2024 amounted to PLN 337.5 million, a year-on-year growth of 3.2%. It was the one that contributed the most to this increase in terms of amounts advertising area, where quarterly revenues increased by 6.3% year-on-year to PLN 193.3 million. – The business in which advertising revenues increased the most and which contributed the most to the increase in advertising revenues for the entire group was AMS (Outdoor Advertising Segment). Its advertising revenues increased by 21.6% and amounted to more than PLN 61 million – mainly due to revenues from campaigns implemented in digital media. Revenues from the sale of radio advertising in the Radio segment increased by almost 8%. to PLN 77.2 million. The value of advertising revenues in Helios cinemas increased by 7.7% in the period under review. to PLN 8.4 million – was calculated in the Agora announcement.
In turn, revenues from catering (Agora owns part of the Pasibus network) increased by 15% to PLN 12.3 million, and from film distribution and co-production – from PLN 3.1 to PLN 3.7 million (including thanks to the distribution of the hit “Paradise Kleks Academy”).
Decline in Helios cinemas
For this Helios Cinemas chain had a declining quarter: ticket revenues decreased by 5% year-on-year. up to PLN 40 million, and from the sale of drinks and snacks – by 2%. up to PLN 24.6 million. The chain’s cinemas sold nearly 2 million tickets in the last quarter, 5% more than last year. less than a year ago.
In the statement, Ágora indicates that the turnout is lower “This is the effect of the so-called repertoire gap that resulted from the Hollywood actors and writers strike last year..
In the last quarter, Agora Group slightly reduced operating costs – by 0.4% to PLN 325 million. Expenses for external services decreased by 8.4 percent. up to PLN 103.1 million, and for the consumption of materials and energy, as well as the value of goods and materials sold – by 7.2 percent. up to PLN 34.9 million. However, personnel costs increased by 4.6 percent. to PLN 109.8 million, and representation and advertising expenses – by 7.9 percent. up to 20.6 percent.
At the EBITDA level, the Agora group’s profit increased from PLN 44.8 to 56.9 million, and at the operating level – from PLN 0.7 to 12.5 million.– Agora Group is growing and improving efficiency: another quarter is behind us, in which we achieved much better operating results, with a simultaneous increase in team remuneration. An increase of almost thirty percent in EBITDA is a significant step towards PLN 200 million in EBITDA, which is our target for 2026 – emphasized Bartosz Hojka, President of Agora, in the announcement.
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However, net profitability was reduced by the deterioration of financial flows, from PLN 20.8 million in revenues to PLN 14.6 million in costs. This is mainly the result of unfavorable changes in exchange rates for the company: in the second quarter of last year it recorded PLN 28.5 million in revenues, and in the last quarter – PLN 2.3 million in costs..
Consequently Agora Group’s net result decreased from a profit of PLN 12.5 million to a loss of PLN 8.1 million. The company reported a loss after two consecutive profitable quarters: from January to March this year, it earned PLN 3.79 million net and up to PLN 50.94 million in the previous quarter.
In the second half of June this year, Agora completed the purchase of the remaining 49% of shares in Eurozet, which owns, among others, Radio ZET. It paid 38.75 million euros. It bought controlling interest in Eurozer at the beginning of last year and assumed a minority stake four years earlier.
READ ALSO: Agora managers began monitoring the Rádio ZET broadcaster and new companies
In the last 12 months, Agora’s share price has increased by 16.5 percent, since the beginning of January this year. it has lost 11 percent
At the end of Tuesday’s session, the company’s price per share was PLN 10.14, which gives a capitalization of PLN 472.3 million.
