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Used. Back to home page. Listed in category:. The state of emergency related to COVID LP) primarily impacted the operations of the Latvian ticket sales platform and the advertising sales of digital outdoor screens both in Estonia and Latvia. The revenue in these areas was at a minimum level in the second quarter. The Group responded quickly to the crisis.
We reduced the cost base incl. While the advertising revenue showed signs of a recovery in the second quarter, the restrictions applying to events will continue to impact the operating volumes of the ticket business for several months and thus no fast recovery to the prior level is to be expected. In an economic downturn, we adhered to the Group's long-term ambition to grow Its digital revenue. The growth in digital subscribers demonstrates clearly that we are able to offer reliable journalism both in ordinary as well as crisis circumstances.
The so-called global digital transformation is also supporting the trend where consumers are more willing to pay for good video, audio or text content. The Group's net profit for the 2 nd quarter totalled EUR 0. The loss for the first six months of the year totalled EUR 0.
Despite the crisis months, the Group managed to improve its liquidity. It is important for us to maintain our liquidity position as the future scope of the crisis related to the coronavirus is still unknown. We are witnessing how the effects of the economic crisis related to LP) virus will also have a major impact on the Group in the third and fourth quarters.
The Group's media companies, especially outdoor media and the ticket sales platform in Latvia are most vulnerable to future potential restrictions.
To provide a clearer uniform overview of the financial statements to the readers of the financial statements, from the 1 st quarter ofonly the information relating to the joint ventures recognised under the equity method LP) presented in the financial statements and their results are shown as one Various - Tallinn 67 (Vinyl in the finance income.
The consolidated revenue for the 2 nd quarter of totalled EUR The revenue drop is primarily attributable to the deterioration of the business environment related to the COVID state of emergency resulting in a decline in advertising and printing services revenue, LP). The consolidated revenue for the first six months of totalled EUR In the second quarter ofprofitability was positively impacted by cost savings throughout the entire Group incl.
The salary subsidy made up EUR 0. The net profit for the 2 nd quarter of totalled EUR 0. At the end of the reporting period, the Group had available cash in the amount of EUR 6. The comparable figures as of 30 June were EUR 1. AS Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania.
The Group also manages the electronic ticket sales platform and ticket sales sites in Latvia. Ekspress Grupp that launched its operations in employs almost people, owns leading web media portals in the Baltic States and publishes the most popular daily and weekly newspapers as well as the majority of the most popular magazines in Estonia. Subscribe via RSS. Subscribe via ATOM. Register Sign In.
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