Media giant Agora's net loss for the whole of 2012 amounted to zł.8.1 million, compared to a net profit of zł.43.8 million in 2011. Revenue for the 12 months was at zł.1.23 billion.

In the fourth quarter of 2012, Poland's largest media company had a net profit of zł.0.6 million, compared to a zł.9.7 million profit in Q4 of 2011. Revenue in Q4 amounted to zł.309.6 million, down by 7.8 percent year-on-year. Analysts surveyed by Parkiet had expected Agora's results to be worse. Their consensus forecast saw revenue at zł.307.16 and a net loss of zł.5.12 million.

Agora saw its annual revenue fall 20.8 percent in the publishing segment, 9.8 percent in advertising, and 8.4 percent on cinema ticket sales. Copy sales of its flagship daily Gazeta Wyborcza fell by 17.2 percent y/y.

For 2013, Agora plans to expand its digital and web presence, especially through pay service Piano Media (which gives access to its subscribers to exclusive content). Agora might also purchase other portals and services, including WP.pl, which its owner, Telekomunikacja Polska, plans to sell for around zł.500 million.

Poland A.M.