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Activity report 2022

Annual economic overview

AS Postimees Group (hereinafter also the Company) is a media organization operating in Estonia, which has subsidiaries in Estonia, Latvia and Lithuania. Since AS Postimees Group does not prepare consolidated annual financial statements, only the separate financial data of the parent company, which includes web and print media content production, news production and advertising sales in the Estonian market, are presented in this activity report and annual accounting report.

Revenues for the 2022-2023 financial year increased by a total of 9%, reaching 31.8 million euros (2021-2022: 29.1 million euros). The most significant part of the growth was made up of subscription revenues, which increased by 12% to 14.9 million euros (2021-2022: 13.1 million euros). The growth in subscription revenues is mainly supported by the growth in digital subscriptions, which was approximately 17% in the current financial year. The main focus for the coming years is to increase the number of digital subscribers and improve the user experience of all its digital platforms.

Despite the unstable economic environment and rapidly rising input prices (especially in the activities of paper publications), Postimees Group has been able to significantly improve its financial results compared to the previous year. The company's profit before interest, taxes and depreciation improved by 1.1 million euros compared to the previous year, which shows that the Company has been able to quickly adapt to the challenges arising from the market environment. The goal for the coming years is to continue to increase the efficiency of its activities in order to improve the Company's financial results.

Main financial ratios and their calculation methodology 30.04.2023 30.04.2022

Total revenues (thousand EUR) 31 778 29 125 incl Sales revenue (thousand EUR) 30 861 29 058 incl Other operating income (thousand EUR) 917 67

Gross profit (thousand EUR) 2 140 1 689

Profit before interest, taxes and depreciation (thousand EUR) -1 497 -2 622

Profit (loss) for the reporting year (thousand EUR) -3 967 -5 071

Short-term liability coverage ratio 0.49 0.44

Formulas used in calculating ratios:

Short-term liability coverage ratio (times) = current assets/short-term liabilities

Description of areas of activity

AS Postimees Group has a very extensive and diverse web network. Postimees.ee, rus.postimees and news.postimees are news portals that cover current Estonian and foreign news in Estonian, Russian and English respectively. Local news is brought to readers by Postimees Group's county newspapers Tartu Postimees, Pärnu Postimees, Sakala, Virumaa Teataja, Järva Teataja, Southern Estonia

Postimees news portals.

Elu24.ee is an entertainment portal that engages readers with news and stories from us and