Cube investments generated PLN 2.53 million in revenue in 2023, an increase of 12.1%. less than a year earlier (PLN 2.88 million). Advertising revenues of domestic contractors in 2023 decreased year-on-year from PLN 2.15 to PLN 2.01 million, and those of foreign entities – from PLN 359.3 thousand to PLN 205 thousand. zloty. However, revenues from other services decreased from PLN 365.5 thousand to PLN 317 thousand zloty.
The websites published by the company are among the top ten sites with funny content. In March last year, Jbzd.com.pl registered 1.3 million users and 54 minutes and 21 seconds of average usage time, and Kwejk.pl – 1.11 million visitors and 16 minutes and 33 seconds of average time spent by each person (according to the Mediapanel study).
The popularity of sites with memes and other funny content exploded in 2010-2012 and then gradually declined. For example, Kwejk.pl in January 2012 registered 4.33 million users and 22.59 percent. reach, in March 2015 – only 2.01 million visitors (plus 235.8 million domestic views and 2 hours, 20 minutes and 4 seconds of average usage time), while in July 2019 – 800 thousand. users and 47.4 million views.
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Cube Investments’ operating activities in 2023 cost PLN 2.34 million, which compared to PLN 3.08 million a year earlier represents a decrease of 24.2%. Expenses for external services decreased mainly (from PLN 2.74 to PLN 2.11 million) and those defined as other (from PLN 139.9 thousand to PLN 51.1 thousand). However, amortization costs increased from PLN 95.1 thousand to PLN 126.4 thousand zloty. In addition, other operating expenses (from PLN 30.3 thousand to PLN 19.5 thousand) and financial costs (from PLN 51.4 thousand to PLN 15.9 thousand) were reduced.
As a result at the operational level, Cube Investments’ profitability increased from PLN 206.4 thousand. PLN loss to PLN 193.7 thousand profit, and in net terms – from PLN 249.4 thousand. PLN loss to PLN 161.5 thousand profit.
40 percent of the company’s shares are held by its vice-president, founder of Kwejka Dmitry Głuszczenko and the Cypriot company Plessari Investments Limited, and 20 percent by the Investment Company “BT”. The partners allocated last year’s net profit to supplement capital.
The company has a very solid capital cushion. At the end of last year its capital amounted to PLN 6.47 million, compared to PLN 6.73 million a year earlier.
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In previous years, Cube Investments’ profitability varied. In 2021, with revenue of PLN 3.16 million, the company earned PLN 663.8 thousand net. PLN, a year earlier it recorded PLN 2.38 million in revenue and PLN 281 thousand. PLN net loss, in 2019 – PLN 3.28 million in revenue and PLN 984.2 thousand PLN loss, and in 2018 – PLN 4.56 million in revenue and PLN 103.5 thousand. PLN profit.
In the chart below, the current financial year is 2023 and the previous one is 2022
