Morizon Gratka Grows Revenue 12.5% in 2022 as Profits Decrease 6%

The Polish online classifieds operator Morizon Gratka grew revenue by 12.5% in 2022 while operating profits decreased by 5.9% compared to 2021.

According to local publication Wirtualnemedia, the portal operator saw revenues totalling PLN 47.53 million ($11.9 million) with a net profit of PLN 4.9 million ($1.23 million) in 2022.

Morizon Gratka operates the Polish real estate challenger portal Morizon as well as the horizontal site Gratka with its parent company also operating several other online classifieds sites in the Polish market.

The company has a slightly complicated corporate backstory. Morizon Gratka is a subsidiary of MZN Property which in turn is a subsidiary of Ringier Axel Springer - a joint venture between the German publisher Axel Springer and the Swiss Media company Ringier.

The joint venture only operates in Poland following a deal in February that saw Ringier buy out Axel Springer in the rest of its Central European markets.

Morizon Gratka's main competitor is OLX Poland the operator of market-leading vertical Otodom. OLX Poland is owned by the Amsterdam-based conglomerate, Prosus. For the year ended 31st of March 2023, OLX Poland generated  PLN 1142 million in revenue and PLN 276 million in operating revenue.