Market announcement
Aktsiaselts Ekspress Grupp
LEI code
529900B52V1TUMW7FS54
Size of the entity
Large group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
18517
Attachments
Submission date and time
30.04.2026 08:00:02
Content of announcement in Estonian
Title
AS Ekspress Grupp: 2026.aasta I kvartali konsolideeritud auditeerimata vahearuanne
Message
Ekspress Grupi 2026. aasta I kvartali müügitulu vähenes aastases võrdluses 1%,
ulatudes 16,8 miljoni euroni. Samas EBITDA kasvas 0,6 miljoni euro võrra.
Digitaalsed tulud jäid eelmise aasta tasemele ja moodustasid 86% kontserni
kogukäibest.
Ekspress Grupi 2026. aasta I kvartali müügitulu vähenes aastases võrdluses 0,2
miljoni euro võrra (-1%), ulatudes 16,8 miljoni euroni. I kvartali müügitulu
võrdlusbaasi mõjutavad 2025. aasta detsembris toimunud tehingud - Leedu
uudisteportaali Lrytas UAB müük ja liiklusõppeplatvormi Liikluslab Baltic OÜ
omandamine. Ilma antud tehinguteta kasvas I kvartali müügitulu 0,1 miljoni euro
võrra (+1%). Müügitulu kujunemisse panustasid positiivselt digitellimustulude ja
piletimüügiplatvormide tulude jätkuv kasv. Samas avaldas negatiivset mõju Balti
riikide ettevõtluskeskkonna üldine madalseis, mis väljendus reklaamitulude -13%
vähenemises I kvartalis (ilma Lrytas UAB tehingut arvesse võtmata vähenesid
reklaamitulud -4%).
I kvartali digitaalsed tulud jäid eelmise aasta tasemele. Kui võrdlusbaasist
Lrytas UAB digitaalsed tulud välja võtta, siis oli aastane kasv +7%. Kontserni
meediaettevõtete digitellimuste tulu ja digitellimust omavate inimeste arv
kasvasid samal ajal aastases võrdluses kõigis kolmes riigis. Aastaga sai
kontsern Balti riikides juurde ligi 13 000 digitellimust (+6%) ja jõudis 2026.
aasta I kvartali lõpus 237 000 tellimuseni. Kontserni digitaalne tulu põhineb
seega üha enam digitellimuste müügitulul ja moodustab järjest suurema korduva
tulubaasi ilma täiendava müügitegevuse (ja -kulude) vajaduseta. Oleme tugevdanud
grupi meediaettevõtete pakutava sisu kvaliteeti ja mahtu, et olla kõigis Balti
riikides digitellimuste valdkonna liider.
Ekspress Grupi kasum enne intresse, makse, kulumit ja amortisatsiooni (EBITDA)
oli I kvartalis 0,9 miljonit eurot, suurenedes aastases võrdluses 0,6 miljoni
euro võrra (+255%). Ilma 2025. aasta detsembris toimunud tehinguteta (Leedu
uudisteportaali Lrytas UAB müük ja liiklusõppeplatvormi Liikluslab Baltic OÜ
omandamine) suurenes I kvartali EBITDA 0,2 miljoni euro võrra (+59%). EBITDA
kasvu toetasid jätkuv kasv digitellimustuludes ja piletimüügiplatvormide
tuludes. Tulenevalt Baltimaade nõrgast majanduskeskkonnast oli surve all
meediaettevõtete reklaamimüük, mis omakorda mõjutas EBITDA'd negatiivselt.
2026. aasta I kvartali konsolideeritud puhaskahjum oli 0,9 miljonit eurot, mis
on eelmisest aastast 0,7 miljoni euro võrra väiksem. Ilma 2025. aasta detsembris
toimunud tehinguteta oli I kvartali puhaskahjum aga 0,2 miljoni euro võrra
väiksem.
2026. aasta aprillis sõlmis ASi Ekspress Grupp Läti tütarettevõte A/S Delfi
lepingu koolitusettevõtte SIA Baltijas Datoru Akad?mija 100% osade omandamiseks
tehnoloogiaettevõttelt SIA Tet. SIA Baltijas Datoru Akad?mija (BDA) on juhtiv
kutsealaste koolituste pakkuja ning üks suuremaid koolituskeskusi Lätis ja
Baltimaades. 1994. aastal asutatud BDA pakub koolitusi IT, projektijuhtimise,
küberturbe, andmeanalüüsi ja isikliku arengu valdkonnas ning rahvusvaheliselt
tunnustatud sertifikaate. Koolitajad on kogenud praktikud, kes keskenduvad
oskustele, mida saab tööl kohe kasutada. Tehingu peamine eesmärk on toetada
digitaalse ärisuuna kasvu, mitmekesistades tulude allikaid ja laienedes Läti
koolitussektorisse. See on kooskõlas Ekspress Grupi pikaajalise strateegiaga
kasvatada digitaalsete toodete ja teenuste, sh tellimuste, tulu.
2026. aasta aprillis andis konkurentsiamet loa ASi Ekspress Grupp ja ASi AVH
Grupp vahel 9. juulil 2025 sõlmitud tehingule, mille kohaselt ostab Ekspress
Grupp seni AVH Grupile kuulunud 50% osaluse ASis Õhtuleht Kirjastus. Tehingu
tulemusel sai Ekspress Grupist Õhtuleht Kirjastuse ainuomanik. Õhtuleht
Kirjastus on üks Eesti suuremaid meediaettevõtteid, kes annab välja Eesti
suurima tiraazhiga päevalehte Õhtuleht ning mitmeid populaarseid ajakirju. Samuti
haldab ettevõte veebiväljaandeid, sh ohtuleht.ee ja toidutare.ee portaale.
Õhtuleht Kirjastuse omandamine annab Ekspress Grupile lisavõimalusi
investeeringuteks kvaliteetsesse ajakirjandusse ja on kooskõlas grupi
pikaajalise strateegiaga.
Kontserni likviidsus on jätkuvalt hea. Juhatus peab oluliseks
likviidsusreservide hoidmist nii võimalike uute ostude tarbeks kui ka majanduse
edasise jahtumisega seotud olukordadeks. 31. märts 2026 seisuga oli kontsernil
rahalisi vahendeid 11,7 miljonit eurot (31. märts 2025: 8,4 miljonit eurot).
I KVARTALI TULEMUSED
MÜÜGITULU
2026. aasta I kvartali konsolideeritud müügitulu oli 16,8 miljonit eurot (I
kvartal 2025: 17,0 miljonit eurot). I kvartali müügitulu vähenes 1% võrreldes
eelmise aastaga. I kvartali müügitulu võrdlusbaasi mõjutavad 2025. aasta
detsembris toimunud tehingud - Leedu uudisteportaali Lrytas UAB müük ja
liiklusõppeplatvormi Liikluslab Baltic OÜ omandamine. Ilma antud tehinguteta I
kvartali müügitulu kasvas 1%. Müügitulu kasvu panustasid jätkuv kasv
digitellimustuludes ja piletimüügiplatvormide tuludes. Samas negatiivset mõju
avaldas Balti riikide ettevõtluskeskkonna üldine madalseis, mis väljendus
reklaamitulude 13% vähenemises I kvartalis (ilma Lrytas UAB'ta oli vähenemine
-4%). Kontserni digitaalsete tulude osakaal moodustas 2026. aasta I kvartali
lõpus 86% kogukäibest (2025. aasta I kvartali lõpp: 84% kogukäibest). 2026.
aasta I kvartali digitaalsed tulud jäid eelmise aasta sama perioodi tasemele
(ilma Lrytas UAB'ta oli digituludes kasv 7%).
KULUD
2026. aasta I kvartali müüdud kaupade kulu, turundus- ja üldhalduskulud ilma
kulumita kokku moodustasid 16,2 miljonit eurot (I kvartal 2025: 16,9 miljonit
eurot). Tegevuskulud vähenesid 0,7 miljonit eurot (-4%) võrreldes eelmise aasta
sama perioodiga. Tegevuskulude võrdlusbaasi mõjutavad 2025. aasta detsembris
toimunud tehingud - Leedu uudisteportaali Lrytas UAB müük ja
liiklusõppeplatvormi Liikluslab Baltic OÜ omandamine. Ilma antud tehinguteta on
I kvartali tegevuskulud eelmise aasta tasemel.
KASUMLIKKUS
2026. aasta I kvartali konsolideeritud EBITDA oli 0,9 miljonit eurot (I kvartal
2025: 0,2 miljonit eurot). EBITDA suurenes 0,6 miljoni euro võrra (+255%)
võrreldes eelmise aastaga ning EBITDA marginaal oli 5% (I kvartal 2025: 1%).
Ilma 2025. aasta detsembris toimunud tehinguteta (Leedu uudisteportaali Lrytas
UAB müük ja liiklusõppeplatvormi Liikluslab Baltic OÜ omandamine) suurenes I
kvartali EBITDA 0,2 miljoni euro võrra (+59%). EBITDA kasvu toetasid jätkuv kasv
digitellimustuludes ja piletimüügiplatvormide tuludes. Kuid tulenevalt
Baltimaade nõrgast majanduskeskkonnast oli surve all meediaettevõtete
reklaamimüük, mis omakorda mõjutas EBITDA'd negatiivselt.
2026. aasta I kvartali konsolideeritud puhaskahjum oli -0,9 miljonit eurot (I
kvartal 2025: -1,6 miljonit eurot), mis on eelmisest aastast 0,7 miljoni euro
(+43%) võrra väiksem. Ilma 2025. aasta detsembris toimunud tehinguteta (Leedu
uudisteportaali Lrytas UAB müük ja liiklusõppeplatvormi Liikluslab Baltic OÜ
omandamine) oli I kvartali puhaskahjum 0,2 miljoni euro (+14%) võrra väiksem.
RAHAPOSITSIOON
Aruandeperioodi lõpus oli kontsernil vabu rahalisi vahendeid 11,7 miljonit eurot
ja omakapitali 56,7 miljonit eurot (49% bilansimahust). Võrreldavad andmed
2025. aasta 31. märts seisuga olid vastavalt 8,4 miljonit eurot ja 56,8 miljonit
eurot (50% bilansimahust). Seisuga 31. märts 2026 oli kontserni netovõlg 14,4
miljonit eurot (31. märts 2025: 20,0 miljonit eurot).
2026. aasta I kvartali kontserni rahavood äritegevusest olid -0,1 miljonit eurot
(I kvartal 2025: +0,7 miljonit eurot), mida mõjutasid negatiivselt nii Eestis
kui Lätis piletimüügi platvormid (ürituse korraldajate nimel üritsute eest
kogutud ja korraldajatele makstud piletite raha).
2026. aasta I kvartali kontserni rahavood investeerimistegevusest olid +1,9
miljonit eurot (I kvartal 2025: -0,7 miljonit eurot), millest +2,5 miljonit
eurot oli netomuutus lühiajalistes deposiitides ning -0,7 miljonit eurot oli
seotud materiaalse ja immateriaalse põhivara arendamise ja soetamisega. Suuremad
investeeringud olid LED väliekraanide soetamised ning investeeringud Delfi
platvormi ja Delfi TV arendamisse.
2026. aasta I kvartali kontserni rahavood finantseerimistegevusest olid -1,6
miljonit eurot (I kvartal 2025: -0,5 miljonit eurot). Finantseerimistegevused
sisaldavad netomuutust laenukohustustes -0,9 miljonit eurot (I kvartal
2025: +0,2 miljonit eurot) ja rendikohustustes -0,7 miljonit eurot (I kvartal
2025: -0,6 miljonit eurot) seoses järelejäänud rendiperioodi tavapärase
vähenemisega.
SEGMENTIDE ÜLEVAADE
Segmentide peamised finantsnäitajad
(tuhandetes EUR) Müügitulu
I kv 2026 I kv 2025 Muutus % 12 kuud 2025
Meediasegment 16 775 16 983 -1% 80 107
reklaam 7 394 8 489 -13% 39 099
tellimused (sh üksikmüük) 5 432 5 196 5% 20 982
turuplatsid 1 193 1 000 19% 4 496
väliekraanid 905 929 -3% 4 860
muud müügitulud 1 851 1 369 35% 10 670
Kesksed tegevused 205 196 5% 818
Segmentidevahelised elimineerimised (179) (176) (698)
KONTSERN KOKKU 16 802 17 003 -1% 80 227
sh tulu kõikidest digitaalsetest
kanalitest 14 412 14 360 0% 68 648
% tulu kõikidest digitaalsetest
kanalitest 86% 84% 86%
(tuhandetes EUR) EBITDA
I kv 2026 I kv 2025 muutus % 12 kuud 2025
Meediasegment 1 312 626 109% 12 431
Kesksed tegevused (444) (383) -16% (1 674)
Segmentidevahelised elimineerimised 0 2 6
KONTSERN KOKKU 867 244 255% 10 763
EBITDA marginaal I kv 2026 I kv 2025 12 kuud 2025
Meediasegment 8% 4% 16%
KONTSERN KOKKU 5% 1% 13%
Konsolideeritud finantsseisundi aruanne (auditeerimata)
(tuhandetes EUR) 31.03.2026 31.12.2025
--------------------------------------------------------------
VARAD
--------------------------------------------------------------
Käibevara
--------------------------------------------------------------
Raha ja raha ekvivalendid 11 659 11 479
--------------------------------------------------------------
Lühiajalised deposiidid 0 2 490
--------------------------------------------------------------
Nõuded ostjatele ja muud nõuded 18 267 16 940
--------------------------------------------------------------
Ettevõtte tulumaksu nõuded 196 171
--------------------------------------------------------------
Varud 259 261
--------------------------------------------------------------
Käibevara kokku 30 381 31 341
--------------------------------------------------------------
Põhivara
--------------------------------------------------------------
Muud nõuded ja investeeringud 1 524 1 666
--------------------------------------------------------------
Edasilükkunud tulumaksu vara 84 84
--------------------------------------------------------------
Investeeringud ühisettevõtetesse 1 097 1 112
--------------------------------------------------------------
Investeeringud sidusettevõtetesse 187 160
--------------------------------------------------------------
Materiaalne põhivara 10 726 10 991
--------------------------------------------------------------
Immateriaalne põhivara 71 874 72 190
--------------------------------------------------------------
Põhivara kokku 85 492 86 203
--------------------------------------------------------------
VARAD KOKKU 115 873 117 544
--------------------------------------------------------------
KOHUSTUSED
--------------------------------------------------------------
Lühiajalised kohustused
--------------------------------------------------------------
Võlakohustused 5 373 9 962
--------------------------------------------------------------
Võlad tarnijatele ja muud võlad 33 141 32 817
--------------------------------------------------------------
Ettevõtte tulumaksu kohustused 9 57
--------------------------------------------------------------
Lühiajalised kohustused kokku 38 524 42 836
--------------------------------------------------------------
Pikaajalised kohustused
--------------------------------------------------------------
Pikaajalised võlakohustused 20 650 17 094
--------------------------------------------------------------
Pikaajalised kohustused kokku 20 650 17 094
--------------------------------------------------------------
KOHUSTUSED KOKKU 59 174 59 930
--------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------
Aktsiakapital 18 576 18 576
--------------------------------------------------------------
Ülekurss 14 295 14 295
--------------------------------------------------------------
Omaaktsiad (5) (5)
--------------------------------------------------------------
Reservid 2 494 2 494
--------------------------------------------------------------
Jaotamata kasum 21 339 22 254
--------------------------------------------------------------
OMAKAPITAL KOKKU 56 699 57 614
--------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 115 873 117 544
--------------------------------------------------------------
Konsolideeritud koondkasumiaruanne (auditeerimata)
12 kuud
(tuhandetes EUR) I kv 2026 I kv 2025 2025
-------------------------------------------------------------------------------
Müügitulu 16 802 17 003 80 227
-------------------------------------------------------------------------------
Müüdud toodangu kulu (14 287) (14 848) (63 390)
-------------------------------------------------------------------------------
Brutokasum 2 515 2 155 16 837
-------------------------------------------------------------------------------
Muud äritulud 378 171 2 240
-------------------------------------------------------------------------------
Turunduskulud (872) (908) (4 019)
-------------------------------------------------------------------------------
Üldhalduskulud (2 844) (2 770) (10 986)
-------------------------------------------------------------------------------
Muud ärikulud (104) (48) (99)
-------------------------------------------------------------------------------
Firmaväärtuse allahindlus 0 0 (1 792)
-------------------------------------------------------------------------------
Ärikasum /(-kahjum) (927) (1 400) 2 181
-------------------------------------------------------------------------------
Intressitulud 12 28 89
-------------------------------------------------------------------------------
Intressikulud (309) (411) (1 425)
-------------------------------------------------------------------------------
Muud finantstulud/(kulud) 300 (17) (2 672)
-------------------------------------------------------------------------------
Kokku finantstulud/(-kulud) 3 (400) (4 008)
-------------------------------------------------------------------------------
Kasum/(kahjum) ühisettevõtete aktsiatelt ja
osadelt (15) 44 240
-------------------------------------------------------------------------------
Kasum/(kahjum) sidusettevõtete aktsiatelt ja
osadelt 27 161 309
-------------------------------------------------------------------------------
Kasum/(kahjum) sidusettevõtte müügist 0 0 2 043
-------------------------------------------------------------------------------
Kasum /(kahjum) enne tulumaksustamist (911) (1 595) 765
-------------------------------------------------------------------------------
Tulumaks (4) (4) 266
-------------------------------------------------------------------------------
Aruandeperioodi puhaskasum /(kahjum) (915) (1 599) 1 031
-------------------------------------------------------------------------------
Aruandeaasta muu koondkasum/-kahjum 0 0 0
-------------------------------------------------------------------------------
Koondkasum /(-kahjum) kokku (915) (1 599) 1 031
-----------------------------------------------------------------------
Puhaskasum (-kahjum) aktsia kohta (eurodes)
-------------------------------------------------------------------------------
Tavakasum /(-kahjum) aktsia kohta (0,0296) (0,0517) 0,0333
-------------------------------------------------------------------------------
Lahustatud kasum /(-kahjum) aktsia kohta (0,0296) (0,0517) 0,0333
-------------------------------------------------------------------------------
Konsolideeritud rahavoogude aruanne (auditeerimata)
(tuhandetes EUR) I kv 2026 I kv 2025 12 kuud 2025
-------------------------------------------------------------------------------
Rahavood äritegevusest
-------------------------------------------------------------------------------
Aruandeperioodi ärikasum /(-kahjum) (927) (1 400) 2 181
-------------------------------------------------------------------------------
Korrigeerimised (mitterahalised):
-------------------------------------------------------------------------------
Põhivara kulum 1 794 1 643 6 790
-------------------------------------------------------------------------------
Kahjum firmaväärtuse väärtuse langusest 0 0 1 792
-------------------------------------------------------------------------------
(Kasum)/ kahjum põhivara müügist ja
mahakandmisest (50) 16 (25)
-------------------------------------------------------------------------------
Äritegevuse rahavood:
-------------------------------------------------------------------------------
Äritegevusega seotud nõuete ja ettemaksete
muutus (864) (727) (3 052)
-------------------------------------------------------------------------------
Varude muutus 2 (9) 146
-------------------------------------------------------------------------------
Äritegevusega seotud kohustuste ja
ettemaksete muutus 318 1 473 6 696
-------------------------------------------------------------------------------
Makstud ettevõtte tulumaks (77) (27) (52)
-------------------------------------------------------------------------------
Makstud intressid (316) (303) (1 549)
-------------------------------------------------------------------------------
Rahavood äritegevusest kokku (120) 664 12 927
-------------------------------------------------------------------------------
Rahavood investeerimistegevusest
-------------------------------------------------------------------------------
Netorahavoog tütarettevõtte soetamisest 0 0 (4 751)
-------------------------------------------------------------------------------
Netorahavoog tütarettevõtte müügist 0 0 843
-------------------------------------------------------------------------------
Laekumised muudest investeeringutest 0 0 79
-------------------------------------------------------------------------------
Laekumised osaluse müügist kapitaliosaluse
meetodil arvestatud investeeringutes 0 0 4 200
-------------------------------------------------------------------------------
Laekunud intressid 12 28 92
-------------------------------------------------------------------------------
Materiaalse ja immateriaalse põhivara
soetamine (717) (988) (3 906)
-------------------------------------------------------------------------------
Materiaalse ja immateriaalse põhivara müük 126 1 44
-------------------------------------------------------------------------------
Antud laenud (3) 0 (42)
-------------------------------------------------------------------------------
Antud laenude tagasimaksed 0 0 74
-------------------------------------------------------------------------------
Laekunud dividendid 0 0 456
-------------------------------------------------------------------------------
Deposiitide netomuutus 2 490 0 (2 490)
-------------------------------------------------------------------------------
Rahavood investeerimistegevusest kokku 1 908 (731) (5 400)
-------------------------------------------------------------------------------
Rahavood finantseerimistegevusest
-------------------------------------------------------------------------------
Makstud dividendid 0 0 (1 857)
-------------------------------------------------------------------------------
Rendikohustuse põhiosa tagasimaksed (719) (623) (2 607)
-------------------------------------------------------------------------------
Arvelduskrediidi muutus 0 887 0
-------------------------------------------------------------------------------
Saadud laenud 0 0 9 320
-------------------------------------------------------------------------------
Laenude tagasimaksed (889) (726) (4 875)
-------------------------------------------------------------------------------
Võlakirjade lunastamine 0 0 (5 000)
-------------------------------------------------------------------------------
Rahavood finantseerimistegevusest kokku (1 608) (463) (5 019)
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENTIDE MUUTUS 180 (530) 2 508
-------------------------------------------------------------------------------
Raha ja raha ekvivalendid perioodi alguses 11 479 8 971 8 971
-------------------------------------------------------------------------------
Raha ja raha ekvivalendid perioodi lõpus 11 659 8 441 11 479
-------------------------------------------------------------------------------
Lisainfo
Rain Sarapuu
Kontserni finantsjuht
[email protected] (mailto:[email protected])
AS Ekspress Grupp on Baltimaade juhtiv meediakontsern, mille tegevus hõlmab
veebimeedia sisutootmist ning ajalehtede, ajakirjade ja raamatute kirjastamist.
Samuti haldab kontsern elektroonilist piletimüügiplatvormi ja
piletimüügikohtasid ning pakub digitaalsete väliekraanide teenust Eestis ja
Lätis. Lisaks korraldavad grupi ettevõtted konverentse, koolitusi ja üritusi
peamiselt Eestis ja Leedus, aga ka Lätis. Ekspress Grupp alustas oma tegevust
1989. aastal ja annab tööd umbes 1000 inimesele.
Content of announcement in English
Title
AS Ekspress Grupp: Consolidated unaudited interim report for Q1 of 2026
Message
In the 1(st) quarter of 2026, the revenue of Ekspress Grupp decreased by 1%
year-over-year and totalled EUR 16.8 million. At the same time, EBITDA increased
by EUR 0.6 million. Digital revenue remained at last year's level and accounted
for 86% of the Group's total revenue.
The revenue of AS Ekspress Grupp for the 1(st )quarter of 2026 decreased by EUR
0.2 million (-1%) year-over-year, totalling EUR 16.8 million. The Q1 revenue
comparison base is affected by transactions that occurred in December 2025 - the
sales of the Lithuanian news portal Lrytas UAB and the acquisition of the
traffic training platform Liikluslab Baltic OÜ. Excluding these transactions,
the revenue for the 1(st) quarter increased by EUR 0.1 million (+1%). The
continued growth of digital subscription revenue and revenue from ticket sales
platforms contributed positively to revenue generation. At the same time, the
general weakness of the business environment in the Baltic States had a negative
impact, which was reflected in a -13% decrease in advertising revenue for the
1(st) quarter (excluding the Lrytas UAB transaction, advertising revenue
decreased by -4%).
The digital revenue for the 1(st) quarter remained at the same level as last
year. If to exclude the digital revenue of Lrytas UAB from the comparison base,
the year-over-year growth was +7%. At the same time, the digital subscription
revenue of the Group's media companies and the number of people with digital
subscriptions increased year-over-year in all three countries. In a year, the
Group received nearly 13 thousand new digital subscriptions (+6%) and reached
237 000 subscriptions at the end of the 1(st) quarter of 2026. Thus, the Group's
digital revenue is increasingly based on digital subscription revenue, and it
makes up an increasingly larger recurring revenue base without the need for
additional sales activity (and costs). We have enhanced the quality and volume
of the content offered by the Group's media companies to be the leader in the
digital subscription field in all Baltic States.
In the 1(st) quarter, Ekspress Grupp's profit before interest, taxes,
depreciation and amortisation (EBITDA) totalled EUR 0.9 million, increasing by
EUR 0.6 million year-over-year (+255%). Excluding the transactions that took
place in December 2025, (sale of the Lithuanian news portal Lrytas UAB and
acquisition of the traffic training platform Liikluslab Baltic OÜ), the EBITDA
increased by EUR 0.2 million (+59%) in the 1(st) quarter. EBITDA growth was
supported by continued growth in digital subscription revenue and revenue from
ticket sales platforms. However, due to the weak economic environment in the
Baltic States, media companies' advertising sales were under pressure, which in
turn had a negative impact on EBITDA.
The consolidated net loss for the 1(st) quarter of 2026 totalled EUR 0.9 million
which is EUR 0.7 million lower than last year. However, excluding the
transactions that took place in December 2025, the net loss for the 1(st)
quarter was EUR 0.2 million lower.
In April 2026, A/S Delfi, the Latvian subsidiary of AS Ekspress Grupp, signed an
agreement to acquire 100% of the shares of the training company SIA Baltijas
Datoru Akad?mija from the technology company SIA Tet. SIA Baltijas Datoru
Akad?mija (BDA) is a leading professional training provider and one of the
largest training centres in Latvia and the Baltic States. Founded in 1994, BDA
provides training in the IT field, project management, cyber security and data
analysis, and personal development, as well as internationally recognised
certifications. The instructors are experienced practitioners who focus on
skills that can be applied immediately at work. The main purpose of the
transaction is to support the growth of the digital business line by
diversifying sources of income and expanding into the training sector in Latvia.
This is in line with Ekspress Grupp's long-term strategy to grow revenue from
digital products and services, including subscriptions.
In April 2026, the Estonian Competition Authority approved the transaction of AS
Ekspress Grupp and AS AVH Grupp, which was concluded on 9 July 2025, pursuant to
which Ekspress Grupp would acquire the 50% ownership interest in AS Õhtuleht
Kirjastus from AVH Grupp. As a result of the transaction, Ekspress Grupp became
the sole owner of Õhtuleht Kirjastus. Õhtuleht Kirjastus is one of the largest
media companies in Estonia, which publishes the daily newspaper Õhtuleht with
the largest circulation in Estonia and several popular magazines. The company
also manages online publications, including the portals ohtuleht.ee and
toidutare.ee. The acquisition of Õhtuleht Kirjastus gives Ekspress Grupp
additional opportunities to invest in high-quality journalism and is in line
with the Group's long-term strategy.
The Group's liquidity continues to be strong. The Management Board considers it
important to maintain liquidity reserves both for potential new acquisitions and
for situations related to a further economic slowdown. As of 31 March 2026, the
Group's available cash totalled EUR 11.7 million (31 March 2025: EUR 8.4
million).
Q1 RESULTS
REVENUE
In the 1(st) quarter of 2026, the consolidated revenue totalled EUR 16.8 million
(Q1 2025: EUR 17.0 million). The revenue for the 1(st) quarter decreased by 1%
year-over-year. The Q1 revenue comparison base is affected by transactions that
took place in December 2025 - the sales of the Lithuanian news portal Lrytas UAB
and the acquisition of the traffic training platform Liikluslab Baltic OÜ.
Excluding these transactions, the revenue for the 1(st) quarter increased by
1%. The continued growth of digital subscription revenue and revenue from ticket
sales platforms contributed positively to revenue generation. At the same time,
the general weakness of the business environment in the Baltic States had a
negative impact, which was reflected in a -13% decrease in advertising revenue
for the 1(st )quarter (excluding the Lrytas UAB transaction, advertising revenue
decreased by -4%). The share of the Group's digital revenue in total revenue was
86% at the end of the 1(st) quarter of 2026 (at the end of Q1 2025: 84% of total
revenue). Digital revenue for the 1(st) quarter of 2026 remained at the level of
the same period last year (excluding Lrytas UAB, digital revenues grew by 7%).
EXPENSES
In the 1(st) quarter of 2026, the cost of goods sold, marketing, and general and
administrative costs, excluding depreciation and amortisation totalled EUR 16.2
million (Q1 2025: EUR 16.9 million). Operating expenses decreased by EUR 0.7
million (-4%) as compared to the same period last year. The comparison base of
operating expenses is affected by transactions completed in December 2025 - the
sale of the Lithuanian news portal Lrytas UAB and the acquisition of the traffic
training platform Liikluslab Baltic OÜ. Excluding these transactions, operating
expenses in Q1 are at the same level as last year.
PROFITABILITY
In the 1(st) quarter of 2026, the consolidated EBITDA totalled EUR 0.9 million
(Q1 2025: EUR 0.2 million). EBITDA increased by EUR 0.6 million (+255%) as
compared to last year and the EBITDA margin was 5% (Q1 2025: 1%). Excluding the
transactions that took place in December 2025, (sale of the Lithuanian news
portal Lrytas UAB and acquisition of the traffic training platform Liikluslab
Baltic OÜ), the EBITDA increased by EUR 0.2 million (+59%) in the 1(st) quarter.
EBITDA growth was supported by continued growth in digital subscription revenue
and revenue from ticket sales platforms. However, due to the weak economic
environment in the Baltic States, media companies' advertising sales were under
pressure, which in turn had a negative impact on EBITDA.
The consolidated net loss for the 1(st) quarter of 2026 totalled EUR -0.9
million (Q1 2025: EUR -1.6 million), which is EUR 0.7 million (+43%) lower than
in last year. However, excluding the transactions that took place in December
2025 (the sales of the Lithuanian news portal Lrytas UAB and the acquisition of
the traffic training platform Liikluslab Baltic OÜ), the net loss for the 1(st)
quarter was EUR 0.2 million lower (+14%).
CASH POSITION
At the end of the reporting period, the Group had available cash in the amount
of EUR 11.7 million and equity in the amount of EUR 56.7 million (49% of total
assets). The comparable data as of 31 March 2025 were EUR 8.4 million and EUR
56.8 million (50% of total assets), respectively. As of 31 March 2026, the
Group's net debt was EUR 14.4 million (31 March 2025: EUR 20.0 million).
In the 1(st) quarter of 2026, the Group's cash flows from operating activities
totalled EUR -0.1 million (Q1 2025: EUR +0.7 million), which was negatively
affected by ticket sales platforms in both Estonia and Latvia (cash for tickets
collected on behalf of event organisers for the events and paid out to the
organisers).
In the 1(st) quarter of 2026, the Group's cash flows from investing activities
totalled EUR +1.9 million (Q1 2025: EUR -0.7 million), of which EUR +2.5 million
is net change in short-term deposits and EUR -0.7 million was related to
development and acquisition of property, plant and equipment and intangible
assets, of which the largest investments were in the development of Delfi
platform and Delfi TV.
In the 1(st) quarter of 2026, the Group's cash flows from financing activities
totalled EUR -1.6 million (Q1 2025: EUR -0.5 million). Financing activities
include a net change in borrowings in the amount of EUR -0.9 million (Q1 2025:
EUR +0.2 million) and lease liabilities in the amount of EUR -0.7 million (Q1
2025: EUR -0.6 million) due to the normal reduction of the remaining lease term.
SEGMENT OVERVIEW
Key financial indicators for segments
(EUR thousand) Sales
Q1 2026 Q1 2025 Change % 12 months 2025
Media segment 16 775 16 983 -1% 80 107
advertising revenue 7 394 8 489 -13% 39 099
subscriptions (incl. single-copy
sales) 5 432 5 196 5% 20 982
ticket sales platforms 1 193 1 000 19% 4 496
outdoor screens 905 929 -3% 4 860
sale of other goods and services 1 851 1 369 35% 10 670
Corporate functions 205 196 5% 818
Inter-segment eliminations (179) (176) (698)
TOTAL GROUP 16 802 17 003 -1% 80 227
incl. revenue from all digital
channels 14 412 14 360 0% 68 648
% of revenue from all digital
channels 86% 84% 86%
(EUR thousand) EBITDA
Q1 2026 Q1 2025 change % 12 months 2025
Media segment 1 312 626 109% 12 431
Corporate functions (444) (383) -16% (1 674)
Inter-segment eliminations 0 2 6
TOTAL GROUP 867 244 255% 10 763
EBITDA margin Q1 2026 Q1 2025 12 months 2025
Media segment 8% 4% 16%
TOTAL GROUP 5% 1% 13%
Consolidated statement of financial position (unaudited)
(EUR thousand) 31.03.2026 31.12.2025
--------------------------------------------------------------
ASSETS
--------------------------------------------------------------
Current assets
--------------------------------------------------------------
Cash and cash equivalents 11 659 11 479
--------------------------------------------------------------
Short-term deposits 0 2 490
--------------------------------------------------------------
Trade and other receivables 18 267 16 940
--------------------------------------------------------------
Corporate income tax prepayment 196 171
--------------------------------------------------------------
Inventories 259 261
--------------------------------------------------------------
Total current assets 30 381 31 341
--------------------------------------------------------------
Non-current assets
--------------------------------------------------------------
Other receivables and investments 1 524 1 666
--------------------------------------------------------------
Deferred tax asset 84 84
--------------------------------------------------------------
Investments in joint ventures 1 097 1 112
--------------------------------------------------------------
Investments in associates 187 160
--------------------------------------------------------------
Property, plant and equipment 10 726 10 991
--------------------------------------------------------------
Intangible assets 71 874 72 190
--------------------------------------------------------------
Total non-current assets 85 492 86 203
--------------------------------------------------------------
TOTAL ASSETS 115 873 117 544
--------------------------------------------------------------
LIABILITIES
--------------------------------------------------------------
Current liabilities
--------------------------------------------------------------
Borrowings 5 373 9 962
--------------------------------------------------------------
Trade and other payables 33 141 32 817
--------------------------------------------------------------
Corporate income tax payable 9 57
--------------------------------------------------------------
Total current liabilities 38 524 42 836
--------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------
Long-term borrowings 20 650 17 094
--------------------------------------------------------------
Total non-current liabilities 20 650 17 094
--------------------------------------------------------------
TOTAL LIABILITIES 59 174 59 930
--------------------------------------------------------------
EQUITY
--------------------------------------------------------------
Share capital 18 576 18 576
--------------------------------------------------------------
Share premium 14 295 14 295
--------------------------------------------------------------
Treasury shares (5) (5)
--------------------------------------------------------------
Reserves 2 494 2 494
--------------------------------------------------------------
Retained earnings 21 339 22 254
--------------------------------------------------------------
TOTAL EQUITY 56 699 57 614
--------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 115 873 117 544
--------------------------------------------------------------
Consolidated statement of comprehensive income (unaudited)
12 months
(EUR thousand) Q1 2026 Q1 2025 2025
-------------------------------------------------------------------------------
Sales revenue 16 802 17 003 80 227
-------------------------------------------------------------------------------
Cost of sales (14 287) (14 848) (63 390)
-------------------------------------------------------------------------------
Gross profit 2 515 2 155 16 837
-------------------------------------------------------------------------------
Other income 378 171 2 240
-------------------------------------------------------------------------------
Marketing expenses (872) (908) (4 019)
-------------------------------------------------------------------------------
Administrative expenses (2 844) (2 770) (10 986)
-------------------------------------------------------------------------------
Other expenses (104) (48) (99)
-------------------------------------------------------------------------------
Impairment of goodwill 0 0 (1 792)
-------------------------------------------------------------------------------
Operating profit /(loss) (927) (1 400) 2 181
-------------------------------------------------------------------------------
Interest income 12 28 89
-------------------------------------------------------------------------------
Interest expenses (309) (411) (1 425)
-------------------------------------------------------------------------------
Other finance income/ (costs) 300 (17) (2 672)
-------------------------------------------------------------------------------
Net finance cost 3 (400) (4 008)
-------------------------------------------------------------------------------
Profit (loss) on shares of joint ventures (15) 44 240
-------------------------------------------------------------------------------
Profit (loss) on shares of associates 27 161 309
-------------------------------------------------------------------------------
Profit (loss) from the sale of associate 0 0 2 043
-------------------------------------------------------------------------------
Profit /(loss) before income tax (911) (1 595) 765
-------------------------------------------------------------------------------
Income tax expense (4) (4) 266
-------------------------------------------------------------------------------
Net profit /(loss) for the reporting period (915) (1 599) 1 031
-------------------------------------------------------------------------------
Other comprehensive income (expense) for the
year 0 0 0
-------------------------------------------------------------------------------
Total comprehensive income /(loss) (915) (1 599) 1 031
---------------------------------------------------------------------
Earnings per share (euro)
-------------------------------------------------------------------------------
Basic earnings per share (0.0296) (0.0517) 0.0333
-------------------------------------------------------------------------------
Diluted earnings per share (0.0296) (0.0517) 0.0333
-------------------------------------------------------------------------------
Consolidated cash flow statement (unaudited)
(EUR thousand) Q1 2026 Q1 2025 12 months 2025
-------------------------------------------------------------------------------
Cash flows from operating activities
-------------------------------------------------------------------------------
Operating profit /(loss) for the reporting year (927) (1 400) 2 181
-------------------------------------------------------------------------------
Adjustments for (non-cash):
-------------------------------------------------------------------------------
Depreciation and amortisation 1 794 1 643 6 790
-------------------------------------------------------------------------------
Loss on goodwill impairment 0 0 1 792
-------------------------------------------------------------------------------
(Gain)/loss on sale and write-down of property,
plant and equipment (50) 16 (25)
-------------------------------------------------------------------------------
Cash flows from operating activities:
-------------------------------------------------------------------------------
Trade and other receivables (864) (727) (3 052)
-------------------------------------------------------------------------------
Inventories 2 (9) 146
-------------------------------------------------------------------------------
Trade and other payables 318 1 473 6 696
-------------------------------------------------------------------------------
Income tax paid (77) (27) (52)
-------------------------------------------------------------------------------
Interest paid (316) (303) (1 549)
-------------------------------------------------------------------------------
Net cash generated from operating activities (120) 664 12 927
-------------------------------------------------------------------------------
Cash flows from investing activities
-------------------------------------------------------------------------------
Acquisition of subsidiaries (net of cash
acquired) 0 0 (4 751)
-------------------------------------------------------------------------------
Receipts from sales of interest in subsidiaries
(net of cash disposed of) 0 0 843
-------------------------------------------------------------------------------
Receipts of other investments 0 0 79
-------------------------------------------------------------------------------
Receipts from sales of interest in equity-
accounted investees 0 0 4 200
-------------------------------------------------------------------------------
Interest received 12 28 92
-------------------------------------------------------------------------------
Purchase of property, plant and equipment and
intangible assets (717) (988) (3 906)
-------------------------------------------------------------------------------
Proceeds from sale of property, plant and
equipment and intangible assets 126 1 44
-------------------------------------------------------------------------------
Loans granted (3) 0 (42)
-------------------------------------------------------------------------------
Loan repayments received 0 0 74
-------------------------------------------------------------------------------
Dividends received from associates and joint
ventures 0 0 456
-------------------------------------------------------------------------------
Net change in deposits 2 490 0 (2 490)
-------------------------------------------------------------------------------
Net cash used in investing activities 1 908 (731) (5 400)
-------------------------------------------------------------------------------
Cash flows from financing activities
-------------------------------------------------------------------------------
Dividends paid 0 0 (1 857)
-------------------------------------------------------------------------------
Payment of lease liabilities (719) (623) (2 607)
-------------------------------------------------------------------------------
Change in overdraft 0 887 0
-------------------------------------------------------------------------------
Proceeds from borrowings 0 0 9 320
-------------------------------------------------------------------------------
Repayments of bank loans (889) (726) (4 875)
-------------------------------------------------------------------------------
Redemption of notes 0 0 (5 000)
-------------------------------------------------------------------------------
Net cash used in financing activities (1 608) (463) (5 019)
-------------------------------------------------------------------------------
NET (DECREASE)/INCREASE IN CASH AND CASH
EQUIVALENTS 180 (530) 2 508
-------------------------------------------------------------------------------
Cash and cash equivalents at the beginning of
the period 11 479 8 971 8 971
-------------------------------------------------------------------------------
Cash and cash equivalents at the end of the
period 11 659 8 441 11 479
-------------------------------------------------------------------------------
Additional information
Rain Sarapuu
CFO of the Group
[email protected] (mailto:[email protected])
AS Ekspress Grupp is the leading Baltic media group whose key activities include
web media content production, and publishing of newspapers, magazines and books.
The Group also operates an electronic ticket sales platform and ticket sales
offices in Latvia and Estonia, offers digital outdoor screen service in Estonia
and Latvia. In addition, the Group companies organize conferences, trainings and
events mainly in Estonia and Lithuania but also in Latvia. Ekspress Grupp
launched its operations in 1989 and employs about 1000 people.