FY19 Report Shows Insight into Ringier Axel Springer Poland

Releasing last year’s financial report, Ringier Axel Springer Poland (RASP) shows net profit was up from PLN 6.02 million (approximately USD 1.6 million) to PLN 28.4 million (approximately USD 7.7 million) and its sales revenue was down 6.5%. 

Here are the highlights from that report: 

• Press and advertisement sales revenue decreased by 4.5%
• Share in the company's total revenues up from 45% to 49.1%
• 1,400 hired
• Outsourced services expenses decreased year-over-year from PLN 258.03 million (approximately USD 70 million) to PLN 253.41 million (approximately USD 68.9 million)
• Staff costs decreased from PLN 159.75 million (approximately USD 43.4 million) to PLN 159.39 million (approximately USD 43.3 million)
• Operating profit increased from PLN 14.26 million (approximately USD 3.8 million) to PLN 23 million (approximately USD 6 million)
• Gross profit increased from PLN 16.38 million (approximately USD 4.4 million) to PLN 25.12 million (approximately USD 6.8 million)
• Net profit increased from PLN 6.02 million (approximately USD 1.6 million) to PLN 28.4 million (approximately USD 7.7 million)

Other news includes a number of strategic acquisitions. RASP bought Gratka.pl from Polska Press Grupa for PLN 66.1 million (approximately USD 17.9 million). RASP also bought a 79% stake in MZN Property. Later on, buying more shares in MZN Property and placing its own men in a number of leadership positions in the real estate marketplace.