Market announcement

Title

AS Ekspress Grupp: Consolidated unaudited interim report for Q4 and 12 months of 2022

Message

In  the 4(th) quarter  of 2022, the  revenue of  AS Ekspress  Grupp totalled EUR
19.2 million  and net profit  totalled EUR 2.4 million.  The revenue for the 12-
month  period totalled  EUR 64.1 million,  increasing by  20% as compared to the
previous  year. The net profit for  the 12-month period totalled EUR 4.1 million
which is at the same level as in the previous year. Digital revenue increased by
23% and  digital revenue made up 78% of the  Group's total revenue at the end of
December.

The  Group's  performance  in  2022 was  solid,  despite  the extremely unstable
environment  and the related effects in the  economy. The Group's revenue in the
4(th) quarter  grew  strongly  as  compared  to  the  same  period  in 2021. The
consolidated  revenue for  the quarter  totalled EUR  19.2 million (Q4 2021: EUR
15.9 million),  increasing by 20% as compared to  the previous year. The Group's
online advertising sales continued to grow at the time when the total market did
not increase. The Group's media companies managed to successfully increase their
sales  as opposed  to their  competitors by  offering better  solutions to their
advertising customers in reaching consumers. 12-month revenue totalled EUR 64.1
million, also increasing by 20% as compared to the previous year. In addition to
advertising  sales, 12-month  revenue was  also boosted  by the higher number of
digital  subscriptions and the growth in the average price of both paper as well
as  digital products. Demand  for the events  offered through the Group's ticket
business  platforms  also  picked  up.  The  sales  volumes  of  outdoor screens
increased  due to the more extensive digital outdoor screen network where 27 new
screens were added.

The  number of digital subscriptions of AS Ekspress Grupp increased by 12% year-
over-year by the end of December 2022 and totalled 146.6 thousand subscriptions.
The  number of digital subscriptions continued to grow rapidly, which is a proof
that  the  paid  content  model  is  sustainable  and  has  an increasingly more
important  role on the revenue side of  the Group's media companies. Despite the
fact  that  the  expenses  of  the  people  in  the Baltic States are being more
scrutinized  due  to  inflation  and  general  price rally, reader's interest in
independent journalism remained high because of the disturbing events last year.
Delfi's  solid market  leadership position  in all  Baltic States  makes readers
prefer the portal with the most comprehensive content.

The  earnings before  interest, tax,  depreciation and  amortisation (EBITDA) of
Ekspress Grupp totalled EUR 3.8 million in the 4(th) quarter and EUR 8.9 million
over  the 12-month period. EBITDA increased both in the 4(th) quarter as well as
over  the 12-month period,  by 19% and 8%, respectively.  The Group has found it
challenging  to maintain  its EBITDA  margin due  to the  growth in input prices
(primarily  paper, printing and energy costs)  and the general pressure from the
economic  environment on  wage costs.  Still, given  the cost  pressures, we are
satisfied that due to revenue growth, we managed to maintain the 12-month EBITDA
margin   at   around   14% (12   months   2021: 15%). The  ability  to  maintain
profitability  and react quickly,  especially if market  developments are longer
term  than shown by current  forecasts, will remain key  topics for the Group in
subsequent periods.

The  consolidated  net  profit  in  the  4(th) quarter of 2022 totalled EUR 2.4
million  and 12-month net  profit totalled EUR  4.1 million. 12-month net profit
remained  at the same level (12 months 2021: EUR 4.1 million). Despite the Group
demonstrating moderate, 8% EBITDA growth, net profit stayed at the same level as
in 2021. The higher loss of the joint venture AS Express Post for the period and
the   increase  of  the  Group's  depreciation  charge  due  to  higher  capital
expenditures  as compared to the same period  last year had a negative impact on
the  Group's net profit in 2022. In addition, the revenue for 2021 included one-
off finance income in the amount of EUR 0.4 million for fair value adjustment of
the future commitment related the purchase price of the ticket sales platform.

In  December 2022, the  Group acquired  a 100% ownership  interest in one of the
most  popular  Lithuanian  news  portals lrytas.lt (https://www.lrytas.lt/). The
acquisition  of the  news portal  Lrytas forms  an organic  part of  the Group's
strategy.  The main  purpose for  the acquisition  is the  growth of the digital
media business in the region's largest market. The news portal has an average of
420 000 daily  readers  (source:  Gemius)  and  the portal's advertising revenue
totals  about EUR  3 million per  year. The  common goal  of Lrytas and Ekspress
Grupp  is to provide captivating and  independent content for its readers. After
the  transaction,  Lrytas  will  continue  to  operate  as  an independent media
company.

The Management Board of Ekspress Grupp rates the Group's 12-month performance as
positive:  the Group managed to increase its digital revenue base (both turnover
and  share of digital revenue, as well as the number of digital subscribers) and
maintain  decent profitability despite the unstable economic environment and the
growth of both input prices and wage costs. This demonstrates that over the last
two  years, Ekspress Grupp has  managed to quickly and  efficiently adapt to the
changed   economic   environment   while   adhering   to  its  chosen  strategy.
Contradictory  future forecasts require  the readiness to  be flexible and react
promptly in the coming quarters.

At  the end of the reporting period, the  Group had available cash in the amount
of  EUR 7.4 million and equity  in the amount of  EUR 55.4 million (56% of total
assets).  The comparable data  as of 31 December  2021 were EUR 11.0 million and
EUR  53.7 million (57%  of total  assets), respectively.  Given the Group's cash
position,  at  8 February  2023 the  Group  announced  a share buyback programme
approved  by the  shareholders in  May 2022. In  the buyback offer targeting all
shareholders, the Group offers shareholders from 15 February to 6 March 2023 the
opportunity  to sell Ekspress Grupp's  shares back at the  price of EUR 1.70 per
share. The maximum volume of shares to be bought back is up to EUR 1 million (up
to  588,235 shares).  The  purpose  of  share  buyback  is  to take advantage of
attractive market conditions to create value for shareholders by buying back own
shares  and using them for the reduction  of share capital or for other purposes
(e.g. sale of shares or use them for share option program).

The  results of the buyback offer may affect the amount of dividends paid out of
the  Group's 2022 profits. The  Management Board will  make a proposal regarding
the  dividends to be  paid out of  the profit for  2022 along with the notice to
call  an  ordinary  general  meeting,  proceeding  from  the previously approved
dividend  policy and the volume of the shares  to be bought back under the share
buyback offer. The Group will pay out at least 30% of the last year's net profit
as  dividends under the  condition that there  will be sufficient monetary funds
available to fund key operations and make new strategic investments. In case the
economic environment significantly slows down or the cash flows are smaller than
expected  for other reasons, the  Group may lower the  dividend pay-out ratio or
decide not to pay dividends.



Q4 AND 12 MONTHS RESULTS



REVENUE

In the 4(th) quarter of 2022, the consolidated revenue totalled EUR 19.2 million
(Q4 2021: EUR 15.9 million). The revenue for the 4(th) quarter increased by 20%
year-over-year.  The consolidated revenue for the 12 months of 2022 totalled EUR
64.1 million  (12 months 2021: EUR  53.5 million). The revenue  for the 12-month
period  increased by  20% year-over-year. This  growth was  attributable to both
online advertising revenue as well as digital subscription revenue. The share of
the  Group's digital revenue in  total revenue was 78% at  the end of the 4(th)
quarter  of 2022 (at the end of  Q4 2021: 76% of total revenue). Digital revenue
for  the 12 months of 2022 increased by 23% as  compared to the same period last
year.

PROFITABILITY

In  the 4(th) quarter of 2022, the  consolidated EBITDA totalled EUR 3.8 million
(Q4  2021: EUR 3.2 million). In  the 4(th) quarter of  2022, EBITDA increased by
19% as  compared to last year and  the EBITDA margin was 20% (Q4 2021: 20%). The
consolidated  EBITDA  for  the  12 months  of  2022 totalled EUR 8.9 million (12
months 2021: EUR 8.2 million). In the 12 months of 2022, EBITDA increased by 8%
as  compared  to  the  previous  year  and  the EBITDA margin was 14% (12 months
2021: 15%).

The  consolidated net  profit for  the 4(th) quarter  of 2022 totalled  EUR 2.4
million  (Q4 2021: EUR  2.3 million). In  the 4(th) quarter  of 2022, net profit
increased  by 6% as compared  to the previous  year. The consolidated net profit
for  the 12 months  of 2022 totalled  EUR 4.1 million  (12 months 2021: EUR 4.1
million). The Group demonstrated modest EBITDA growth of 8% while the net profit
stayed  at the same level  as in 2021. The net  profit for 2022 declined due the
higher  loss of the joint venture AS Express Post for the period and the Group's
higher  depreciation  charge  resulting  from  higher  capital  expenditures  as
compared  to the  same period  last year.  In addition,  the comparable base for
2021 is higher due to recognition of one-off finance income in the amount of EUR
0.4 million  for fair value  adjustment of the  future commitment related to the
purchase price of the ticket sales platform.

EXPENSES

In  the 12 months of  2022, the cost of  goods sold, marketing,  and general and
administrative  costs  totalled  EUR  60.0 million  (12  months  2021: EUR 49.5
million).  In the  12 months of  the year,  operating expenses  increased by EUR
10.5 million  (+21%).  Staff  costs  in  the  amount  of  EUR 5.4 million (+20%)
increased  the most. The significant  growth in input expenses  is linked to the
outsourcing  of the printing service related to  print media as well as the home
delivery service, total growth was EUR 1.0 million (+17%).

As  of 31 December 2022, the  Group employed 884 employees  which is 143 more as
compared  to the same period last  year (31.12.2021: 741 employees). This growth
is  attributable  to  66 employees  who  were  transferred  from  the  companies
acquired,  incl. OÜ Geenius Meedia,  ELTA news agency in  Lithuania and the news
portal  lrytas.lt acquired  in December  2022. 77 employees were  hired in other
companies  in Estonia,  Latvia and  Lithuania. Given  the high  inflationary and
rising  interest rate environment, we have  selectively adjusted the salaries of
Group  employees  and  set  up  one-off  support  measures.  In  addition,  cost
reductions and individual redundancies were carried out in Latvia already in the
3(rd) quarter  of 2022, as its advertising sales have failed to meet the Group's
internal targets.

In  the 12 months  of the  year, the  one-off expenditure  includes donations to
Ukraine in the total amount of EUR 0.2 million.

The  war in Ukraine  has had a  major negative effect  on the GDP  growth in the
Baltic  States. As  a result,  the economy  has slowed  down and  created a high
inflationary  environment  (in  December  2022, inflation  was 17.5% in Estonia,
20.0% in  Lithuania and 20.7% in Latvia as  compared to the previous year) which
is  currently one of  the highest in  the Eurozone. The inflationary environment
will  be a  challenge in  2023. However, the  positive news  is that  it is in a
downward trend as compared to October data. The Group has neither any operations
nor  any  assets  in  Ukraine  and  Russia,  and  therefore, the war has only an
indirect impact on the Group.

CASH POSITION

At  the end of the reporting period, the  Group had available cash in the amount
of  EUR 7.4 million and equity  in the amount of  EUR 55.4 million (56% of total
assets).  The comparable data  as of 31 December  2021 were EUR 11.0 million and
EUR  53.7 million (57% of total assets),  respectively. As of 31 December 2022,
the Group's net debt was EUR 13.3 million (31 December 2021: EUR 6.1 million).

In  the  12 months  of  2022, the  Group's  cash flows from operating activities
totalled  EUR  8.0 million  (12  months  2021: EUR  8.1 million,  incl. printing
services segment) that were positively impacted by the ticket sales platforms in
Estonia  and Latvia. The sales activity of the Latvian ticket sales platform has
recovered and is in a better position due to higher ticket prices as compared to
the pre-Covid-19 period.

In  the  12 months  of  2022, the  Group's  cash flows from investing activities
totalled EUR -10.6 million (12 months 2021: EUR 1.0 million, incl. the sale of a
discontinued  operation in  the amount  of EUR  6.3 million), of  which EUR -3.7
million  was  related  to  development  and  acquisition  of property, plant and
equipment  and intangible assets, indicating  higher investments in products and
technologies.  In the 12 months of the year, the Group invested EUR -1.9 million
in new LED screens, which has been partially funded with a finance lease.

In  the  12 months  of  2022, the  Group's  cash flows from financing activities
totalled  EUR -0.9 million (12 months 2021: EUR -4.4 million), of which EUR -2.4
was  the dividend  payment to  the shareholders  of AS Ekspress Grupp. Financing
activities  also include a  net change in  borrowings in the  amount of EUR 3.3
million  and lease liabilities  in the amount  of EUR -1.8  million. When making
investments  in 2022, the Group has used debt in moderate amounts in the form of
bank loans.

DIVIDENDS

At  the regular General Meeting of Shareholders  of AS Ekspress Grupp held on 2
May  2022, it was  decided to  pay a  dividend of  8 euro cents per share in the
total  amount of EUR 2.43 million. Dividends were paid to shareholders on 20 May
2022.



Key financial indicators for segments





 (EUR thousand)      Sales

                                              12 months    12 months
                     Q4 2022 Q4 2021 Change % 2022         2021        Change %

 Media segment       18 803  15 608  20%      62 690       52 093      20%

  advertising
 revenue             11 623  10 171  14%      37 613       33 781      11%

 subscriptions (incl
 single-copy sales)  4 677   3 629   29%      16 819       13 311      26%

 marketplaces        822     408     101%     2 232        1 013       120%

 outdoor screens     749     569     31%      2 396        1 448       65%

 sale of other goods
 and services        933     830     12%      3 630        2 539       43%

 Corporate functions 1 157   1 013   14%      4 500        4 118       9%

 Inter-segment
 eliminations        (776)   (677)            (3 050)      (2 695)

 TOTAL GROUP         19 185  15 943  20%      64 141       53 516      20%

  incl. revenue from
 all digital
 channels            15 342  12 610  22%      49 928       40 453      23%

  % of revenue from
 all digital
 channels            80%     79%              78%          76%



 (EUR thousand)     EBITDA

                                             12 months    12 months
                    Q4 2022 Q4 2021 Change % 2022         2021         Change %

 Media segment      4 175   3 449   21%      10 183       8 927        14%

 Corporate
 functions          (319)   (245)   -30%     (1 122)      (669)        -68%

 Inter-segment
 eliminations       (61)    (15)             (171)        (18)

 TOTAL GROUP        3 795   3 189   19%      8 891        8 240        8%



  EBITDA margin   Q4 2022   Q4 2021   12 months 2022   12 months 2021

  Media segment   22%       22%       16%              17%

  TOTAL GROUP     20%       20%       14%              15%



Consolidated balance sheet (unaudited)

 (EUR thousand)                                           31.12.2022 31.12.2021
-------------------------------------------------------------------------------
 ASSETS
-------------------------------------------------------------------------------
 Current assets
-------------------------------------------------------------------------------
 Cash and cash equivalents                                     7 448     10 962
-------------------------------------------------------------------------------
 Trade and other receivables                                  11 661      9 323
-------------------------------------------------------------------------------
 Corporate income tax prepayment                                  49          2
-------------------------------------------------------------------------------
 Inventories                                                     286        266
-------------------------------------------------------------------------------
 Total current assets                                         19 444     20 553
-------------------------------------------------------------------------------
 Non-current assets
-------------------------------------------------------------------------------
 Other receivables and investments                             1 580      1 671
-------------------------------------------------------------------------------
 Deferred tax asset                                               60         42
-------------------------------------------------------------------------------
 Investments in joint ventures                                 1 017      1 011
-------------------------------------------------------------------------------
 Investments in associates                                     2 279      2 210
-------------------------------------------------------------------------------
 Property, plant and equipment                                 8 736      7 964
-------------------------------------------------------------------------------
 Intangible assets                                            66 720     60 807
-------------------------------------------------------------------------------
 Total non-current assets                                     80 392     73 705
-------------------------------------------------------------------------------
 TOTAL ASSETS                                                 99 836     94 258
-------------------------------------------------------------------------------
 LIABILITIES
-------------------------------------------------------------------------------
 Current liabilities
-------------------------------------------------------------------------------
 Borrowings                                                    3 393      3 201
-------------------------------------------------------------------------------
 Trade and other payables                                     19 004     17 664
-------------------------------------------------------------------------------
 Corporate income tax payable                                     25         82
-------------------------------------------------------------------------------
 Total current liabilities                                    22 422     20 947
-------------------------------------------------------------------------------
 Non-current liabilities
-------------------------------------------------------------------------------
 Long-term borrowings                                         21 948     19 018
-------------------------------------------------------------------------------
 Other long-term liabilities                                      43        601
-------------------------------------------------------------------------------
 Total non-current liabilities                                21 991     19 619
-------------------------------------------------------------------------------
 TOTAL LIABILITIES                                            44 413     40 566
-------------------------------------------------------------------------------
 EQUITY
-------------------------------------------------------------------------------
 Minority interest                                               147        140
-------------------------------------------------------------------------------
 Capital attributable to equity holders of parent
 company:
-------------------------------------------------------------------------------
 Share capital                                                18 478     18 478
-------------------------------------------------------------------------------
 Share premium                                                14 277     14 277
-------------------------------------------------------------------------------
 Treasury shares                                               (334)      (384)
-------------------------------------------------------------------------------
 Reserves                                                      2 059      1 920
-------------------------------------------------------------------------------
 Retained earnings                                            20 796     19 261
-------------------------------------------------------------------------------
 Total capital attributable to equity holders of parent
 company                                                      55 276     53 552
-------------------------------------------------------------------------------
 TOTAL EQUITY                                                 55 423     53 692
-------------------------------------------------------------------------------
 TOTAL LIABILITIES AND EQUITY                                 99 836     94 258
-------------------------------------------------------------------------------



Consolidated statement of comprehensive income (unaudited)

 (EUR thousand)                 Q4 2022   Q4 2021 12 months 2022 12 months 2021
-------------------------------------------------------------------------------
 Continuing operations
-------------------------------------------------------------------------------
 Sales                           19 185    15 943         64 141         53 516
-------------------------------------------------------------------------------
 Cost of sales                 (13 473)  (11 132)       (48 185)       (39 674)
-------------------------------------------------------------------------------
 Gross profit                     5 712     4 811         15 956         13 842
-------------------------------------------------------------------------------
 Other income                       263       320            789            929
-------------------------------------------------------------------------------
 Marketing expenses               (847)     (766)        (2 979)        (2 359)
-------------------------------------------------------------------------------
 Administrative expenses        (2 381)   (2 013)        (8 823)        (7 435)
-------------------------------------------------------------------------------
 Other expenses                     (7)      (51)          (146)          (113)
-------------------------------------------------------------------------------
 Operating profit /(loss)         2 740     2 301          4 797          4 864
-------------------------------------------------------------------------------
 Interest income                      9         9             36             35
-------------------------------------------------------------------------------
 Interest expenses                (208)     (172)          (738)          (709)
-------------------------------------------------------------------------------
 Other finance income/(costs)      (14)       401            179            339
-------------------------------------------------------------------------------
 Net finance cost                 (214)       239          (523)          (335)
-------------------------------------------------------------------------------
 Profit/(loss) on shares of
 joint ventures                      85     (153)          (242)          (281)
-------------------------------------------------------------------------------
 Profit/(loss) on shares of
 associates                         (1)        78            325            161
-------------------------------------------------------------------------------
 Profit /(loss) before income
 tax                              2 610     2 465          4 357          4 409
-------------------------------------------------------------------------------
 Income tax expense               (173)     (156)          (302)          (276)
-------------------------------------------------------------------------------
 Net profit /(loss) from
 continuing operations            2 438     2 310          4 055          4 133
-------------------------------------------------------------------------------
 Net profit /(loss) from
 discontinued operation               0         0              0        (1 876)
-------------------------------------------------------------------------------
 Net profit /(loss) for the
 reporting period                 2 438     2 310          4 055          2 257
-------------------------------------------------------------------------------
 Net profit /(loss) for the reporting period
 attributable to
-------------------------------------------------------------------------------
 Equity holders of the parent
 company                          2 431     2 300          4 048          2 243
-------------------------------------------------------------------------------
 Minority interest                    7        10              7             14
-------------------------------------------------------------------------------
 Total comprehensive income
 /(loss)                          2 438     2 310          4 055          2 257
-------------------------------------------------------------------------------
 Comprehensive income /(loss) for the reporting
 period attributable to
-------------------------------------------------------------------------------
 Equity holders of the parent
 company                          2 431     2 300          4 048          2 243
-------------------------------------------------------------------------------
 Minority interest                    7        10              7             14
-------------------------------------------------------------------------------
 Earnings per share (euro) - continuing operations
-------------------------------------------------------------------------------
 Basic earnings per share        0.0801    0.0760         0.1335         0.1362
-------------------------------------------------------------------------------
 Diluted earnings per share      0.0776    0.0734         0.1294         0.1316
-------------------------------------------------------------------------------
 Earnings per share (euro)
-------------------------------------------------------------------------------
 Basic earnings per share        0.0801    0.0760         0.1335         0.0742
-------------------------------------------------------------------------------
 Diluted earnings per share      0.0776    0.0734         0.1294         0.0716
-------------------------------------------------------------------------------



Consolidated cash flow statement (unaudited)

                                                                      12 months
 (EUR thousand)                                        12 months 2022     2021*
-------------------------------------------------------------------------------
 Cash flows from operating activities
-------------------------------------------------------------------------------
 Operating profit /(loss) for the reporting year                4 797     3 060
-------------------------------------------------------------------------------
 Adjustments for (non-cash):
-------------------------------------------------------------------------------
 Depreciation and amortisation                                  4 084     4 162
-------------------------------------------------------------------------------
 (Gain)/loss on sale, write-down and impairment of
 property, plant and equipment                                     29      (10)
-------------------------------------------------------------------------------
 Change in value of share option                                   29        36
-------------------------------------------------------------------------------
 Loss on sale of discontinued operation                             0     2 077
-------------------------------------------------------------------------------
 Cash flows from operating activities:
-------------------------------------------------------------------------------
 Trade and other receivables                                  (1 939)   (1 599)
-------------------------------------------------------------------------------
 Inventories                                                      (9)      (33)
-------------------------------------------------------------------------------
 Trade and other payables                                       2 188     1 464
-------------------------------------------------------------------------------
 Income tax paid                                                (401)     (281)
-------------------------------------------------------------------------------
 Interest paid                                                  (767)     (803)
-------------------------------------------------------------------------------
 Net cash generated from operating activities                   8 011     8 073
-------------------------------------------------------------------------------
 Cash flows from investing activities
-------------------------------------------------------------------------------
 Acquisition of subsidiaries/ associates (less cash
 acquired) and other investments /
 cash paid-in equity-accounted investees                      (7 632)   (3 325)
-------------------------------------------------------------------------------
 Disposal of discontinued operation, net of cash
 disposed of                                                        0     6 326
-------------------------------------------------------------------------------
 Receipts of other investments                                     10        51
-------------------------------------------------------------------------------
 Interest received                                                  2         3
-------------------------------------------------------------------------------
 Purchase of property, plant and equipment and
 intangible assets                                            (3 748)   (2 786)
-------------------------------------------------------------------------------
 Proceeds from sale of property, plant and equipment
 and intangible assets                                             66         3
-------------------------------------------------------------------------------
 Loans granted                                                   (30)     (212)
-------------------------------------------------------------------------------
 Loan repayments received                                          86       156
-------------------------------------------------------------------------------
 Dividends received                                               601       828
-------------------------------------------------------------------------------
 Net cash used in investing activities                       (10 645)     1 044
-------------------------------------------------------------------------------
 Cash flows from financing activities
-------------------------------------------------------------------------------
 Dividends paid                                               (2 425)   (3 028)
-------------------------------------------------------------------------------
 Payment of lease liabilities                                 (1 751)   (1 814)
-------------------------------------------------------------------------------
 Loans received / Repayments of bank loans                      3 296       864
-------------------------------------------------------------------------------
 Purchases of treasury shares                                       0     (446)
-------------------------------------------------------------------------------
 Net cash used in financing activities                          (880)   (4 424)
-------------------------------------------------------------------------------
 NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS         (3 514)     4 693
-------------------------------------------------------------------------------
 Cash and cash equivalents at the beginning of the
 period                                                        10 962     6 269
-------------------------------------------------------------------------------
 Cash and cash equivalents at the end of the period             7 448    10 962
-------------------------------------------------------------------------------

*No  adjustments  have  been  made  to  the  consolidated cash flows for 2021 in
accordance  with the  requirements of  IFRS. Cash  flows related to the printing
services segment are still consolidated line-by-line.



Signe Kukin
Group CFO
AS Ekspress Grupp
Telephone: +372 669 8381
E-mail address: [email protected] (mailto:[email protected])



AS Ekspress Grupp is the leading Baltic media group whose key activities include
web  media content production as well as publishing of newspapers, magazines and
books.  The Group also  operates an electronic  ticket sales platform and ticket
offices  and provides an outdoor screen  service in Estonia and Latvia. Ekspress
Grupp launched its operations in 1989 and it employs almost 1600 people.