AS Ekspress Grupp: Consolidated unaudited interim report for Q3 and 9 months of 2025 The revenue of Ekspress Grupp continued to grow in the 3rd quarter and the first nine months of the year, driven by the Group's investments in the fields of conference business, ticket sales and digital outdoor screens. The digital subscriptions of media companies also grew strongly. The revenue of AS Ekspress Grupp for the 3rd quarter of 2025 increased by EUR 1.1 million (+6%) year-over-year, totalling EUR 17.9 million. The revenue for the first nine months of 2025 increased by EUR 3.6 million (+7%) year-...
AS Ekspress Grupp: 2025. aasta III kvartali ja 9 kuu konsolideeritud auditeerimata vahearuanne Ekspress Grupi müügitulu jätkas nii III kvartalis kui ka 9 kuu kokkuvõttes kasvu, mida vedasid grupi investeeringud konverentsiäri, piletimüügi ja digitaalsete väliekraanide valdkonnas. Tugeva kasvu tegid ka meediaettevõtete digitaalsed tellimused. Ekspress Grupi 2025. aasta III kvartali müügitulu kasvas aastases võrdluses 1,1 miljoni euro võrra (+6%), ulatudes 17,9 miljoni euroni. 2025. aasta 9 kuu müügitulu kasvas eelmise aastaga võrdluses 3,6 miljoni euro võrra (+7%) 56,3 miljoni euroni. Suu...
HEADLINES: • Bank Pekao: 3Q25 very solid; 20%+ ROE delivery; key catalyst will be M&A decisions NEUTRAL • Komercni Banka: 3Q25 beat driven purely by positive LLPs balance, still no breakthrough in NII performance NEUTRAL • ING BSK: posts solid 3Q25 results NEUTRAL • mBank: 3Q25 bottom line misses estimates, but purely on higher tax and FX mortgage saga provisions NEUTRAL • Kruk: 3Q25 results a mixed bag – recoveries strong, revenues down, no breakthrough in Spain NEUTRAL • Jeronimo Martins: beat...
HEADLINES: • Raiffeisen Bank International: material upside locked up in Russia (stays BUY) • Theon International: secures EUR 300m long-term supply agreement with a NATO country POSITIVE • Motor Oil Hellas: to receive an extra EUR 39m from its investment in Ellaktor POSITIVE • EME Macro/Strategy: macro all-in-one (13-19 October) • Magyar Telekom: 3Q25E preview – 13% yoy EBITDA growth expected (due on 12 November) • Wirtualna Polska: 3Q25E preview – soft quarter, with 1% yoy pro-forma adjusted E...
Ekspress Grupp’s subsidiary Delfi Latvia facing contractual dispute regarding advertising sales AS Ekspress Grupp informs that its Latvian subsidiary AS Delfi has received notice that SIA Ekis & Co-Positioning and Consulting has filed an insolvency application against Delfi in relation to a contractual dispute over advertising services in news portal LA.lv. Ekspress Grupp wishes to clarify that this is a standard commercial dispute regarding contested invoices that should be resolved through normal legal channels, not through insolvency proceedings. Delfi Latvia has legitimate concerns a...
Ekspress Grupi Läti tütarettevõte Delfi on seotud lepingulise vaidlusega AS Ekspress Grupp teatab, et grupi Läti tütarettevõte AS Delfi on saanud teate, et SIA Ekis & Co-Positioning and Consulting on esitanud Delfi vastu maksejõuetusmenetluse avalduse seoses lepingulise vaidlusega reklaamiteenuste üle uudisteportaalis LA.lv. Ekspress Grupp soovib selgitada, et tegemist on tavapärase ärivaidlusega, mis puudutab vaidlustatud arveid ja mis tuleks lahendada tavaliste õiguskanalite kaudu, mitte maksejõuetusmenetluse teel. Läti Delfil on põhjendatud kahtlused ja Delfi on taotlenud arveldamisek...
Digital subscription results of AS Ekspress Grupp in the third quarter of 2025 The number of digital subscriptions of AS Ekspress Grupp increased by 10% in the Baltic States year-over-year (3rd quarter: 0%, 9 months: 3%) and totalled 244 500 at the end of September. The number of digital subscriptions of AS Delfi Meedia that publishes the news portal Delfi, newspapers Eesti Päevaleht, Maaleht, Eesti Ekspress and several popular magazines increased by 8% year-over-year (3rd quarter: 1%, 9 months: 6%) and totalled 121 118.The number of digital subscriptions of AS Õhtuleht Kirjastus, 50% of w...
ASi Ekspress Grupp 2025. aasta 3. kvartali digitellimuste tulemused ASi Ekspress Grupp digitaalsete tellimuste hulk kasvas võrreldes eelmise aasta sama perioodiga Balti riikides kokku 10% (III kvartalis 0%, 9 kuuga 3%) ja ulatus septembri lõpus 244 500-ni. Eestis uudisteportaali Delfi, Eesti Päevalehte, Maalehte, Eesti Ekspressi ja mitmeid populaarseid ajakirju kirjastava ASi Delfi Meedia digitellimuste hulk kasvas võrreldes eelmise aasta sama perioodiga 8% (III kvartalis 1%, 9 kuuga 6%), ulatudes 121 118-ni.50%-liselt Ekspress Grupile kuuluva ASi Õhtuleht Kirjastus digitellimuste hulk k...
Changes in the Supervisory Boards of AS Ekspress Grupp’s subsidiaries Due to the in the Management Board of AS Ekspress Grupp, alterations to the Supervisory Boards of significant subsidiaries will take place at the beginning of October 2025. Rain Sarapuu, a member of the Management Board of Ekspress Grupp, will become a new member of AS Delfi Meedia Supervisory Board. The Supervisory Board of Delfi Meedia will continue in a composition of four members: Hans Luik (the Chairman), Mari-Liis Rüütsalu, Karl Anton and Rain Sarapuu. Rain Sarapuu will also become a new member of the Supervisory...
Muudatused AS Ekspress Grupp tütarettevõtete nõukogudes ASi Ekspress Grupp juhatuse tõttu toimuvad 2025. aasta oktoobri alguses muudatused grupi oluliste tütarettevõtete nõukogudes. ASi Delfi Meedia nõukogu uueks liikmeks saab Ekspress Grupi juhatuse liige Rain Sarapuu. Nõukogu jätkab tegevust neljaliikmelises koosseisus: Hans Luik (esimees), Mari-Liis Rüütsalu, Karl Anton ja Rain Sarapuu. Läti tütarettevõtte A/S Delfi ja Leedu tütarettevõtte UAB Delfi uueks nõukogu liikmeks saab samuti Rain Sarapuu. A/S Delfi nõukogu hakkab tegutsema järgmises koosseisus: Mari-Liis Rüütsalu (esimees), ...
EME Equity Market – September 2025 Romanian BET led in September, while Türkiye and Hungary lagged. The MSCI EM Europe Index added 0.7% mom in EUR terms and 1.1% in USD terms. The Romanian BET was the top performer, adding 3.6% in EUR terms; followed by the Czech PX (+3.2% mom) and the Polish WIG20 (+1.1% mom) (all in EUR terms); while there was a muted performance from the Greek ASE (+0.6% mom in EUR terms). The Turkish ISE30 and the Hungarian BUX were the worst performing indices in September(...
HEADLINES: • GTC: launches a landmark bond refinancing with a 6.5% EUR 455m 2030 tranche POSITIVE • Zabka: key takeaways from the Investor Day POSITIVE • PCF Group: 2Q25 earnings call takeaways • CCC: final 2Q25 EBITDA 3% below the prelims, on an earlier recognition of costs NEUTRAL • Benefit Systems: end-3Q25 card base at 2.38m, Türkiye accelerated in September NEUTRAL • Wizz Air: September capacity growth slower than the summer, but better load factor NEUTRAL • OTE/DIGI Communications: sale o...
Comment on information published on the Latvian media portal AS Ekspress Grupp clarifies in connection with the article published today in the Latvian portal nra.lv that the Group's Latvian subsidiary AS Delfi indeed had a plan to reduce share capital, but this decision was cancelled on September 19, 2025. This was part of regular group financial structure planning related to the sale of the stake in SIA Altero. The share capital reduction was cancelled and will not take place, as the group decided to use an alternative financial solution. These decisions have no impact on the company's da...
Kommentaar Läti meediaportaalis ilmunud infole AS Ekspress Grupp selgitab seoses täna Läti portaalis nra.lv ilmunud artikliga, et grupi Läti tütarettevõttel AS Delfi oli tõepoolest plaanis aktsiakapitali vähendada, kuid see otsus tühistati 19. septembril 2025. Tegemist oli tavapärase kontserni finantsstruktuuri planeerimisega, mis on seotud SIA Altero osaluse müügiga. Kapitali vähendamine tühistati ja kapitali vähendamist ei toimu, sest kontsern otsustas kasutada alternatiivset finantslahendust. Otsused ei oma mõju ettevõtte igapäevategevusele või finantsseisule. Kapitali vähendamise plaa...
HEADLINES: • Romanian Oil & Gas: still beyond the horizon (OMV Petrom downgraded to HOLD, Romgaz stays HOLD) • EME Macro/Strategy: Türkiye – twin deficits ameliorate, challenges persist • Huuuge Games: 2Q25 in line with expectations, USD 120m share buyback announced POSITIVE • Noval Property: 1H25 – FFO seems en route to exceed FY guidance POSITIVE • Auto Partner: 2Q25 earnings call takeaways – to test new small warehouse in Germany NEUTRAL • Bank Handlowy: to pay extra dividend in October POSIT...
In place of delays and cost overruns, the news on Neptun so far has been reassuring: first well spudded, platform under construction, and the start date unchanged. Nonetheless, we still have a two-year wait for completion. In the meantime, gas prices have been trending lower and oil prices are under pressure. Further deregulation in 2026E should free up the prices paid for gas, following power prices this year. We see the return of Russian gas as an outlier, which would crash gas prices. Romgaz ...
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