In a statement to investors, Astro said that has already started work on expanding the building at ul. Inżynierska 4 in Warsaw. A new television studio will be built there, which the company will use as a producer and broadcaster.
– Simultaneously Additional floors of the new building will be used for residential properties, which the Company intends to sell after expanding its operations – announced the company.
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She noted that she decided to diversify her business “to improve financial results.” Astro has called a general meeting of shareholders for September 10th, which should decide on the inclusion in the company’s bylaws of a new area of activity: the execution of construction projects related to the construction of buildings.
Revenue drops due to reruns of “Familiada”
In the second quarter of 2024 Astro’s revenues decreased year-on-year from PLN 906.1 thousand to PLN 369.9 thousand. zloty. The company explained in the report that “due to the decision of Telewizja Polska to extend the broadcast period of repeated episodes ‘Family’ around the month of May, “The recording period for new episodes of this game show before the holidays has been unexpectedly shortened.”
This change reduced the company’s quarterly revenues by approximately PLN 450,000. zloty. With much weaker declines in operating costs, its operating losses amounted to PLN 329,900. PLN and net loss – PLN 425.6 thousand. zloty. This is still better than last year, when losses amounted to PLN 591.2 thousand and PLN 725.8 thousand, respectively. zloty.
In the first quarter of this year, the company generated PLN 946,000. PLN in revenue and PLN 112,000. PLN in net profit. It achieved positive net profitability for the first time since the fourth quarter of 2020.
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As a result, over the entire last half year, with a decrease in annual revenues from PLN 1.87 to PLN 1.32 million, Astro’s net loss decreased from PLN 1.96 million to PLN 313.7 thousand. zloty
On Friday, shortly before noon, after the release of the results for the second quarter of this year and announcements of apartment construction, Astro shares rose by 5% in price on the stock exchange. At a price of PLN 0.147, the company’s capitalization is PLN 9.3 million.
Over the past 12 months, its price has decreased by 21%, and over two years – by 63%. Astro’s majority investor is the head of the supervisory board, Andrzej Krajewski, who holds around 71.5% directly and through a subsidiary. shares.
