Poland's Morizon Group is listed on the Polish stock exchange and has just released its Q4 and FY 2014 results. The company delivered a 431% year on year revenue growth and a 22% operating profit margin.
The Morizon Group consists of portals domy.pl and oferty.net, the number 2 and number 3 portals in the Polish market.
The revenue of Morizon Group, owner of Polish real estate search engines Morizon.pl and Nportal.pl and several other real estate classified sites, continues to grow rapidly and pulled Morizon Group in the black, both in Q4 of FY2014, and the financial year as a whole.
In Q4 of FY2014 Morizon’s revenue amounted to 3.8 million Polish zloty ($1 million U.S.), which was 486 percent more than in the same period of FY2013. Thanks to the higher revenue, Morizon Group recorded an operating profit of 1.3 million Polish zloty ($355,116 U.S.) in Q4 of FY2014. In the similar period last year Morizon Group reported a loss of 71,614 Polish zloty ($19,562 U.S.).
In FY2014 the revenue of Morizon Group increased 487 percent from 3.1 million Polish zloty in FY2013 to 15.1 million Polish zloty ($4.1 million U.S.). Thanks to this increase Morizon could report an operating profit of 3.5 million Polish zloty ($0,9 million U.S.) in FY2014. In FY2013 it reported a loss of 336,652 Polish zloty ($91,953 U.S.).
Morizon ascribed the healthy increase in revenue and profit to the acquisition of Melog.com in December 2013. The transaction was completed in Jan. 2014 and Melog’s numbers were included in the financial performance of Morizon Group for the first time on Febr. 1, 2014.
In Q4 of FY2014 Morizon Group focused on SEO of the new Morizon.pl site (launched in Q3 of FY2014). The company also started developing new versions of mobile apps for Morizon.pl and Domy.pl, and finished its estate agent management training program, co-funded by the E.U.
Morizon Group consists of Morizon SA (owner of Morizon.pl), its subsidiaries Media Real Estate SA (owner of Nportal.pl; merged with Morizon SA since Dec. 31 2013), Virtal Sp. z o.o. (providing Internet marketing services, primarily to Morizon.pl and Nportal.pl) and Melog.com (since Jan. 2014).