AS Ekspress Grupp: Digital Transformation Drives Revenue Growth in 2024

AS Ekspress Grupp, the leading media group in the Baltic States, reported strong financial results for the 12 months of 2024, with revenue increasing by 4% to EUR 76.2 million and EBITDA growing by 4% to EUR 10.7 million. The Group's strategic focus on digital media and complementary digital services has contributed significantly to its financial performance, with digital revenue increasing by 9% and making up 86% of the Group's total revenue in 2024.



The Group's digital subscription revenue and the number of subscribers of its media companies increased strongly year-over-year in all three countries. In a year, the Group received nearly 31,000 new digital subscriptions (+15%) in the Baltic States, totalling 238,000 subscriptions at the end of December 2024. This increase in digital subscriptions created an increasingly larger recurring revenue base without the need for additional sales activity.

The Group's acquisitions in the conference business have also supported its strategic objectives. In 2024, Ekspress Grupp significantly expanded its activities in the conference business, making two important acquisitions:

1. In July, Delfi Meedia acquired the business of Eesti Koolitus-ja Konverentsikeskus (the Estonian Training and Conference Centre).
2. In December, the Lithuanian subsidiary UAB Delfi acquired the conference company Kenton Baltic.

These acquisitions support the Group's strategic goal of developing the conference business as a new revenue area that complements existing media activities and enables the finding of new synergies. By its nature, the conference business is a content creation business, which is a good match for the portfolio of Ekspress Grupp. The content produced at conferences can successfully be enhanced through the Group’s strong media outlets, and this field of activity strengthens the position of Delfi’s brand among business customers, creating opportunities for new business relations and revenue.

In the future, potential synergies can be expected from these acquisitions, such as leveraging the Group's strong media outlets to promote and enhance the content produced at conferences, increasing the value and reach of the conference business. Strengthening Delfi's brand among business customers can lead to new business relations and revenue opportunities, and finding new synergies between the conference business and the Group's existing media activities can contribute to its overall financial performance and growth.

In conclusion, AS Ekspress Grupp's strategic focus on digital media and complementary digital services has driven its financial performance in 2024, with digital revenue growth and acquisitions in the conference business supporting its long-term strategic objectives. The Group's digital subscription revenue growth, driven by increased digital subscriptions and improved content quality, aligns with its long-term goal of offering paid digital content to at least 340,000 subscribers by the year 2026. The Group's acquisitions in the conference business have supported its strategic objectives, with potential synergies expected to contribute to its overall financial performance and growth in the future.