Wirtualna Polska Holding SA has published its Q4 and full-year 2025 results. The Group’s cash revenue increased by 42% year on year to PLN 2.19 billion. Adjusted EBITDA rose by 23%, to PLN 574 million. 2025 was the year of full consolidation of the Invia Group, the largest acquisition in the company’s history, as well as a period of further intensive investment in the media segment.
The travel segment was the main source of the Group’s growth in 2025. In Q4 alone, travel revenues increased by 148% year on year, up to PLN 288 million, reflecting the first full-period contribution of the Invia Group. On a pro forma basis, travel revenues increased 10% year on year, while the segment’s EBITDA grew by 24%. This performance was driven primarily by international travel in Poland and across the entire CEE region. The Company recorded continued growth in demand for foreign trips and optimized marketing costs through synergies within the Invia Group.
The consolidation of the Invia Group, which was finalized in April 2025, significantly increased the scale of the Group’s travel operations. 2025 was the first full year, in which the Invia Group contributed to Wirtualna Polska’s results.
"Behind us lies the first few quarters of operation of the enlarged Group, which now generates 60% of its revenues from travel and sells services worth €3 million annually in this category. New scale, new commitments. (...) Central and Eastern Europe continues to lag behind Western Europe in the frequency and scale of usage of travel services – 45% of Poles travel every year, compared with 67% of Germans. Most sales in the CEE region still take place offline, which means the digitization of this market offers us a substantial structural opportunity", writes Jacek Świderski, CEO of Wirtualna Polska Holding S.A., in his annual letter to shareholders.
In the Advertising and Subscriptions segment, Wirtualna Polska implemented its 2025 plan to invest in its media products: quality journalism, video production, AI‑based content recommendation algorithms, and AI‑supported advertising tools (WP Booster, WP ADS). The company also continued to develop the WPartner platform, which enables monetization of the ad space that belongs to external publishers. On the other hand, subscription services recorded steady growth, with clearly positive trends throughout the year.
"Running a complex media and travel group is a series of turns. You drive through some of them gracefully, others with the sound of screeching tyres. (...) It is the path of investing in people and products that we have consciously chosen. We know what we are doing. Let me be clear: the rhythm of quarterly results announcements will never stop us from investing in the future of our company," writes CEO Jacek Świderski in his letter.
Wirtualna Polska continues to invest in the development of its own technologies and shares selected solutions with other market participants, strengthening the advertising, media and e-commerce ecosystem in the country.
