In the second quarter of 2024 revenues CDA reached PLN 25.02 million, which compared to PLN 18.55 million a year earlier represents an increase of 34.8%.
The vast majority of the business is still made up of the CDA Premium platform, which also includes the CDA TV service with streaming from TV channels. In the last quarter, subscription sales generated PLN 22 million, compared to PLN 17.53 million a year ago.
The amount of the audiovisual premium paid by the company, with effect from mid-2020, increased year-on-year from PLN 263,000 to PLN 330,100. zloty.
Over 130,000 more CDA Premium subscriptions
At the end of June this year There were exactly 633,193 active subscriptions to CDA Premium (including CDA TV Start and Basic packages). A year earlier, their number was 501,056, and at the end of March this year – more than 655 thousand
However, a business segment that is growing much faster is one that has been operating for two years online store with clothes and gadgets from the “Captain Bomba” universe. In the last quarter, its revenue amounted to PLN 2.3 million, compared to PLN 1.84 million a year ago..
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CDA’s quarterly profit at the level of gross sales increased year-on-year from PLN 6.54 to PLN 9.2 million, in operating terms – from PLN 6.53 to PLN 9.2 million, and in net terms – from PLN 5.36 to PLN 7.68 million. The company paid PLN 1.83 million in income tax in the last quarter, compared to PLN 1.27 million a year earlier.
Purely, the CDA made a little more revenue only in the first quarter of this year. (PLN 7.75 million) and slightly less in the fourth quarter of last year (PLN 7.65 million). In addition, it exceeded the maximum threshold of PLN 25 million in quarterly revenues for the second time (from October to December last year they amounted to PLN 25.45 million).
CDA share price drops after royalty announcement
At the end of June, the CDA outlined the possible consequences for the company of the amendment to the copyright law pending in the Sejm (it was adopted, with amendments introduced in the Senate, at the end of July), which consists in introducing the obligation to pay royalties to creators of audiovisual content, including royalties through streaming platforms.
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According to the CDA authorities, using ZAiKS’s current price list, the payment of royalties to this association alone would reduce the company’s operating margin by 2.5 percentage points. The Board of Directors decided to suspend its recommendations on dividend payments indefinitely.
This scared investors a lot. Immediately after the announcement was published, the company’s shares fell by a fifth, from approximately PLN 30 to PLN 23-25.
The stock market reacted differently on Wednesday to the CDA results for the second quarter of this year. Immediately after the announcement, the price rose by about 7%, but after 12 the dynamics were already negative, at the level of -2%. At the exchange rate of PLN 23.10, the company’s capitalization is PLN 238 million. Despite the recent reduction, it is 43 percent. more than a year ago.
