Record number of acquisitions, EBITDA 30% higher, Wirtualna Polska's Q3 2022 results

Wirtualna Polska Holding S.A.'s adjusted EBITDA in Q3 2022 was nearly PLN 96 million. That’s 30% above the result posted in the corresponding period of the year before. After an increase of more than 20%, the company's revenue amounted to PLN 271 million and net profit was nearly PLN 51 million. In Q3, Wirtualna Polska finalized several significant investments and acquisitions, which contributed, among other things, to a significant increase in the number of subscribers of its services.

The financial results of Wirtualna Polska Holding S.A. have been growing above the market average since the beginning of 2022 in each of the company's business areas. Whether in the area of the media, travel or financial services, as well as car sales, Wirtualna Polska is recording marked sales increases. Combined sales revenues in the online and TV segments after the first 3 quarters of 2022 were PLN 750.6 million, and adjusted EBITDA was PLN 261.2 million, an increase of 23%. In Q3, EBITDA increased by 30% to PLN 95.8 million. In turn, net profit for Q3 2022 is PLN 50.7 million.

"The third quarter of this year, although a holiday one, was a busy period of strengthening the competitive position of our travel and media businesses. In the area of travel, we have completed the acquisition of Nocowanie.pl's competitors in the Central and Eastern European region for PLN 400 million, expanding our offer to 100,000 tourist properties. In the area of media, we have invested PLN 110 million in Patronite and Audioteka, thanks to which, together with the users of Pilot WP and OpenFM, we already have 600,000 subscribers to quality content in Poland," says Jacek Świderski, CEO of Wirtualna Polska Holding S.A.

Profit and loss account highlights

In Q3 2022, the number of advertisers using the WP Ads tool doubled. The tool is now active for more than 400 Wirtualna Polska clients. WP Ads allows advertisers to independently manage advertising campaigns on the space of WP and other publishers in the WPartner network. WP Ads offers settlement for actual sales made by the client in retargeting campaigns, while in the CPC model it offers mailing and prospecting display campaigns. WP Ads also offers display campaigns in the CPC and vCPM model and native advertising in the CPC model. After registering and funding the account at ads.wp.pl, you can upload materials and set broadcasting parameters.

Over the past three months, Wirtualna Polska Holding has made a total of six significant acquisitions and investments. Earlier, in August, the company purchased a 40% stake in Patronite, Poland’s largest website connecting creators with patrons. At the beginning of September, the company acquired the Szallas Group, the operator of the largest national travel websites enabling accommodation bookings in Hungary, the Czech Republic, Romania, Poland and Croatia, for EUR 83 million. Then, WP purchased a 100% stake in Benchmark.pl, one of the leading Polish websites on computers, new technologies, video games and electronic equipment. Also in September, Wirtualna Polska became the majority shareholder of Audioteka S.A., one of the most recognizable and largest audiobook websites operating in Poland, Germany, the Czech Republic, Lithuania and other countries. WP now holds an approx. 60% stake in the company. The deal was worth PLN 95 million. In October, for nearly PLN 33 million, Wirtualna Polska purchased an approximately 44.5% stake in Selsey, one of the leading online stores in Poland selling home and garden products. In November, WP bought Mediapop, the owner of several online portals that reach more than 12 million Poles. The transaction amount is at least PLN 28 million. In total, over the course of the last three months, Wirtualna Polska Holding has spent over PLN 580 million on acquisitions.

Wirtualna Polska is a technological holding group involved in media, advertising and e-commerce business. In October 2022, the company’s websites and services were used by 22.3 million Poles. Since 2015, Wirtualna Polska Holding S.A. has been listed on the Warsaw Stock Exchange.