In the first quarter of 2026, Wirtualna Polska Holding S.A. generated PLN 551.5 million in cash revenues, marking an increase of 50% year-on-year. Adjusted EBITDA amounted to PLN 98.3 million, rising by nearly 15% from the previous year. The performance of the travel segment was significantly affected by the conflict in the Middle East, which led to a decline in bookings. In the media segment, the company is heavily investing in new products and formats.
The travel segment generated revenues of PLN 320.6 million and adjusted EBITDA of PLN 42.4 million in Q1 2026. In the first two months, sales of travel packages grew strongly; however, March saw a clear decline in demand for trips to Turkey and Egypt, driven by the conflict in the Middle East. Since mid-April, the Group has observed a marked recovery in sales. The advertising and subscription segment recorded a 5% year-on-year increase in cash revenues, representing the strongest growth rate in nearly two years. The segment’s adjusted EBITDA amounted to PLN 45.7 million, down 14% year-on-year. This reflects ongoing investments in this area.
"We believe in the future of the media business and are seeing the results of our investments to date, which is why we continue to expand our investment program. Over the past two years, we have allocated approximately PLN 50 million to technological innovation and AI, and in the last year alone, expenditure on key strategic areas increased by PLN 14.7 million compared to 2024. We are investing in new AI-supported advertising products, improved content personalization, and high-quality journalism. An important portion of these expenditures is directed towards video: today we offer nearly 20 formats, we have launched 5 new programs in the first quarter alone, and we have opened a new production studio," says Jacek Świderski, CEO of Wirtualna Polska Holding S.A.
