Change in the operations of the joint venture of AS Ekspress Grupp
27 Enero 2023 - 01:45AM
GlobeNewswire Inc.
Change in the operations of the joint venture of AS Ekspress Grupp
The Supervisory Board of AS Express Post, 50% of
which is owned by AS Ekspress Grupp made a decision to close down
the home delivery business line of Express Post during 2023. The
company is going to continue to provide the call centre service and
the management service for the subscriber bases of periodicals that
make up ca 7% of the company’s current business. The change will
neither impact the volume and frequency of publishing the paper
periodicals of Ekspress Grupp nor the home delivery conditions for
its subscribers.
AS Express Post, a joint venture established in
1997, is engaged in home delivery of periodicals as well as
advertising and business letters in the largest cities in Estonia
and in their vicinity. Additionally, Express Post offers a call
centre service and a management service for the subscriber bases of
periodicals. According to the unaudited data, the revenue of
Express Post totalled EUR 5.2 million (2021: EUR 5.2 million) and
the loss totalled EUR 1.2 million in 2022 (2021: loss of EUR 0.6
million). Ekspress Grupp has a 50% ownership interest in Express
Post.
As a result of the closure of the business line,
AS Express Post will make redundant approximately 450 employees.
The estimated additional one-off expenditure related to the closure
of the business line will total EUR 1.0–1.2 million, of which the
share of Ekspress Grupp will be EUR 0.5–0.6 million.
As at 31 December 2022, the value of the
investment recognised in the Group’s balance sheet is EUR 0
(31.12.2021: EUR 0). The additional one-off expenditure related to
the closure of the business line in the amount of EUR 0.5–0.6
million will be reflected in the Group’s results for the 1st
quarter of 2023.
Mari-Liis Rüütsalu Chairman of the Management Board +372 512
2591 mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading Baltic media
group whose key activities include web media content production as
well as publishing of newspapers, magazines and books. The Group
also operates an electronic ticket sales platform and ticket
offices, and provides an outdoor screen service in Estonia and
Latvia. Ekspress Grupp launched its operations in 1989 and it
employs almost 1400 people.
Ekspress Grupp As (LSE:0JPX)
Gráfica de Acción Histórica
De Mar 2023 a Abr 2023
Ekspress Grupp As (LSE:0JPX)
Gráfica de Acción Histórica
De Abr 2022 a Abr 2023
