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April 26, 2023 / 13:14
In 2026, the Agora Group aims to be in TOP3 of the largest Polish media companies. Its promotion to the forefront of the market is to be ensured by the Group's systematic development in line with the strategic directions set by the company's Management Board, which presented them on Wednesday, 26 April 2023. These directions include: the development of media businesses and their reach among Polish audiences; the diversity of business projects and their autonomy; a new management operating model applied to make even better use of the team's high competences; and, in terms of results – increasing shareholder value, raising the financial efficiency of the entire organisation and achieving an EBITDA result of more than PLN 200 million*.
– The beginning of the Agora Group's journey in the new direction has already been marked by two events of recent weeks: the approval of the EGM to spin off companies from Agora S.A. and the acquisition of Eurozet, the largest media investment in Agora's history. This transaction positions us as the fourth media group in Poland, after the largest TV stations, and it is from this position that we set our directions for the future – says Bartosz Hojka, President of the Management Board of Agora. – We are focusing on our core strengths – on quality content, on strong and independent media. We have 34 years of experience in this area and numerous successes. Agora's team are people who have built the media market in Poland and its various segments. They created the standards of this market, pushed it in innovative directions and elevated it to new heights. Together, from the position of Poland's fourth largest media group, we want to be on the podium in the next four years, not only to reach tens of millions of people with important, attractive content, but also to provide customers with the most effective advertising offer. We will implement this plan in a new structure that will allow us to operate more flexibly and financially efficiently.
The Management Board of Agora has set the strategic directions of the Agora Group for 2023-2026, building on the strengths of the organisation. These are first and foremost the high quality of content and services offered, an attractive audience and a very broad media reach, as well as the advantages related to the development of digital and subscription solutions to date.
The development directions of the Agora Group for 2023-2026 focus on the following areas:
Portfolio and reach
Providing reliable, independent information and opinion, quality entertainment and cultural offer has been Agora's strength for more than 30 years. At the same time, the Group's team continues to ensure that its media and brands are the first choice for advertising clients in Poland by reaching the most attractive target groups, facilitated by a flexible commercial offer of many complementary media with exceptional reach. According to the Group's analysis, its digital media and radio stations reach 11 million Poles every day, plus the reach of its OOH media is 5 million people every day. This makes the Agora Group the fourth largest media group in Poland, after the leading TV groups, reaching 30 million audiences per month.
The Agora Group's aspiration is to further increase reach and stimulate development of its current portfolio of media, as well as to become one of the TOP3 largest Polish media companies within the next four years. This will be based in particular on the Group's strong brands: such as Gazeta Wyborcza and Wyborcza.pl, Gazeta.pl, Radio TOK FM, Radio ZET, Helios and AMS.
With a view to increasing shareholder value, the Management Board of Agora wants to focus on restoring the Group's profitability to the EBITDA level allowing for dynamic development of the organization and return to the implementation of the dividend policy. The EBITDA level is planned to reach a minimum of PLN 200 million in 2026*.
Diversity and autonomy
In addition, in the coming years, Agora's management intends to focus on maintaining and strengthening the operational autonomy of the individual businesses. To this end, it will ensure the diversity of the projects they undertake, as well as greater openness to cooperation with other entities, including investors and external partners, in order to pursue unique development ideas and increase the value and popularity of the Agora Group's brands.
New operating model
At the same time, to meet the challenge of effectively operating such growing businesses, the Management Board of Agora is planning to unify management principles within the Agora Group. It is planned to create a uniform matrix management structure within the Group for such strategic areas of the Group's operations as back-office departments – HR, finance or technology. This is to ensure that the key competencies of the Agora Group's team are effectively utilised and that the entire organisation benefits from the developed solutions.
In addition, the Management Board of Agora will concentrate on realising revenue synergies by unifying the management structure and standardising processes within the Agora Group. It also assumes that the benefits of cooperation between the Group's entities will be retained, guided by clear, well-established rules, as well as maintaining a flexible work model which meets the needs of individual businesses.
While thinking about the implementation of the assumed plans, the Management Board of the company is at the same time focused on the development of the entire Agora Group conducted in a sustainable, socially responsible manner. To this end, the Agora Group ESG Strategy for 2023-2027 is being developed, the details of which will be presented in the coming weeks. The strategy will take into account the organisation's objectives regarding climate and environment (E), people and society (S), as well as governance and business practices (G). Among other things, the Group will set out its plan of successive reduction of the carbon footprint, further support for democracy and freedom of expression, as well as creation of an attractive workplace that is open to diversity.
The Management Board of Agora has also identified aspirations for the Group's business segments – these are outlined in the presentation on Agora Group's strategic directions for 2023-2026.