Core Insights - OÜ HHL Rühm has increased its stake in AS Ekspress Grupp to 73.57% following a recent transaction, acquiring 7,963,307 shares from Hans Luik [1][2] Company Overview - AS Ekspress Grupp is a leading Baltic media group involved in web media content production, publishing newspapers, magazines, and books, as well as operating an electronic ticket sales platform in Latvia and Estonia [2] - The company also provides digital outdoor screen services in Estonia and Latvia and organizes conferences, training, and events primarily in Estonia and Lithuania, with operations commencing in 1989 and employing around 1,000 people [2]

HHL Rühm Osaühing (a company registered in Estonia with registry code 10743222, „HHL Rühm“ or “Offeror”) announces its intention to make a voluntary takeover bid to all shareholders of Aktsiaselts Ekspress Grupp („Ekspress Grupp“) to acquire all shares of Ekspress Grupp not held by the Offeror (“Bid”). The Offeror wishes to increase its shareholding in Ekspress Grupp to 90%. Following successful Bid the Offeror intends to apply for takeover of the remaining shares according to § 1821 of the Estonian Securit ...

Core Insights - Ekspress Grupp's revenue continued to grow in Q3 2025 and the first nine months, driven by investments in conference business, ticket sales, and digital outdoor screens [1][9] - Digital subscriptions for media companies within the Group saw strong growth, contributing significantly to overall revenue [2][11] Revenue Performance - Q3 2025 revenue increased by EUR 1.1 million (+6%) year-over-year, totaling EUR 17.9 million [1][7] - Revenue for the first nine months of 2025 rose by EUR 3.6 million (+7%) year-over-year, reaching EUR 56.3 million [1][8] - Key growth contributors included the Estonian Training and Conference Centre and UAB Kenton Baltic, along with Delfi Lithuania's AI project [1][9] Digital Revenue - Digital revenue for the first nine months increased by 5% year-over-year, with a total of 245 thousand digital subscriptions by the end of Q3 2025, reflecting a 10% increase in new subscriptions [2][11] - Digital revenue accounted for 85% of total revenue at the end of Q3 2025, slightly down from 86% in the previous year [11][20] Ticket Sales and Outdoor Screens - Revenue from ticket sales platforms grew by 6% in Q3 2025, while outdoor screen revenue increased by 1% [3][20] - The number of outdoor screens expanded to 159, with notable growth in the Latvian market [3] Profitability Metrics - EBITDA for Q3 2025 was EUR 2.4 million, a 21% increase year-over-year, with an EBITDA margin of 13% [4][13] - EBITDA for the first nine months remained stable at EUR 5.5 million, with a margin of 10% [4][13] Net Profit - Consolidated net profit for Q3 2025 was EUR 2.4 million, up from EUR 0.3 million in Q3 2024 [5][14] - The first nine months of 2025 saw a net profit of EUR 1.9 million, significantly higher than EUR 0.1 million in the same period last year [5][14] Cash Position and Liquidity - As of September 30, 2025, the Group had available cash of EUR 9.0 million, up from EUR 5.4 million a year earlier [6][15] - The Group's liquidity remains strong, with a focus on maintaining reserves for potential acquisitions and economic uncertainties [6] Expenses Overview - Operating expenses for Q3 2025 totaled EUR 15.5 million, a 2% increase year-over-year, driven by costs associated with newly acquired businesses [12][20] - For the first nine months, operating expenses rose by 7% to EUR 51.1 million [12][20] Segment Performance - The media segment's revenue for Q3 2025 was EUR 17.8 million, a 6% increase from the previous year, while the first nine months saw a 7% increase to EUR 56.2 million [20][23] - Advertising revenue faced a decline of 2% in Q3 and 5% in the first nine months, indicating pressure on media companies' advertising sales [20][24]

Core Points - AS Ekspress Grupp's Latvian subsidiary AS Delfi is facing an insolvency application filed by SIA Ekis & Co-Positioning and Consulting over a contractual dispute related to advertising services [1] - The dispute is characterized as a standard commercial issue regarding contested invoices, which should be resolved through legal channels rather than insolvency proceedings [2] - The claim amount in question is 200,000 euros, and the dispute does not affect Delfi Latvia's daily operations or its financial position [3] Company Overview - AS Delfi is a significant component of the Baltic region's largest media group, with a revenue of 5.5 million euros and a profit of 594,281 euros in 2024 [4] - The company meets all contractual obligations, including those related to state-funded media projects [4] - AS Ekspress Grupp, established in 1989, is the leading Baltic media group, involved in web media content production, publishing, electronic ticket sales, and organizing events, employing around 1,000 people [4]

Core Insights - Ekspress Grupp's revenue continued to grow in Q2 2025, driven by investments in conference business, ticket sales, and digital outdoor screens, despite facing pressure on advertising sales due to a weak economic environment in the Baltic States [1][2]. Revenue Performance - The revenue for Q2 2025 increased by EUR 1.8 million (+9%) year-over-year, totaling EUR 21.4 million, while the revenue for the first half of 2025 increased by EUR 2.6 million (+7%) to EUR 38.4 million [2][8]. - Key contributors to growth included the Estonian Training and Convention Centre and UAB Kenton Baltic, along with Delfi Lithuania's AI project and growth in digital subscriptions and ticket sales [2][9]. Digital Revenue Insights - Digital revenue for the first six months of 2025 increased by 2% year-over-year, but the share of digital revenue in total revenue decreased from 87% to 83% due to the acquisition of the training business [3][11]. - The Group added over 22,000 new digital subscriptions (+10%) in the Baltic States, reaching a total of 245,000 subscriptions by the end of Q2 2025 [3]. Ticket Sales and Outdoor Screens - Revenue from ticket sales platforms increased by 13% year-over-year, while the outdoor screen business grew by 3%, supported by an expansion to 156 screens [4]. Profitability Metrics - EBITDA for Q2 2025 totaled EUR 2.8 million, a decrease of EUR 0.2 million (-7%) year-over-year, with a margin of 13% [5][13]. - The net profit for Q2 2025 was EUR 1.1 million, an increase of EUR 0.1 million (+6%), but the Group incurred a net loss of EUR -0.5 million for the first half of the year, which is EUR 0.3 million higher than the previous year [5][14]. Cash Position and Dividends - As of June 30, 2025, the Group had available cash of EUR 7.2 million, an increase from EUR 5.5 million a year earlier, and paid a dividend of EUR 0.06 per share totaling EUR 1.86 million [6][19]. Segment Overview - The media segment's revenue for Q2 2025 was EUR 21.4 million, with advertising revenue declining by 8% year-over-year [20]. - The share of revenue from digital channels was 83% in Q2 2025, down from 90% in Q2 2024, reflecting the impact of new business acquisitions [21].

Group 1 - AS Ekspress Grupp and AS SEB Pank signed a loan contract to refinance EUR 5 million bonds from LHV pension funds, with a new loan deadline of 2 July 2030 [1] - The refinancing will reduce Ekspress Grupp's annual interest expenses by approximately EUR 150 thousand, while annual loan service will increase by around EUR 340 thousand [1] - The refinancing will lower the average interest rate of Ekspress Grupp's financial liabilities, allowing the company to decrease overall indebtedness and prepare for potential acquisitions and economic challenges [2] Group 2 - AS Ekspress Grupp is the leading Baltic media group, involved in web media content production, publishing newspapers, magazines, and books [2] - The Group operates an electronic ticket sales platform and ticket sales offices in Latvia and Estonia, and provides digital outdoor screen services in both countries [2] - Established in 1989, Ekspress Grupp employs about 1,000 people [2]