Polish Portal Operator Morizon-Gratka Grew Revenues by 9% in 2023

The Polish online classifieds operator Morizon-Gratka Group grew revenue by 9.1% in 2023 while operating profits grew 7.6%.

According to figures published in a report on the local business publication WirtualMedia, the company achieved an EBITDA margin of 20.4% in 2023, a slight improvement on the 19.6% margin reported in 2022. There was a reduction in external service costs which led to a decreased growth rate in the company's operating expenses (PLN 44.54 million in 2023).

The company's co-founder and former leader Jaroslaw Swiecicki recently stepped aside to a board position to leave day-to-day leadership to Lukasz Szymak.

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. In the rest of Europe, Ringier bought out Axel Springer in 2023 but the joint venture remains intact in the Polish market.

The group operates the Morizon real estate vertical, the new build portal Noweinwestycje.pl and the Gratka.pl horizontal classifieds site. The group's main competitor in residential real estate is Otodom.pl which is run by OLX group.