1. Revenue Growth: €108.4 million (+8.4%)
2. EBITDA: €34.0 million (+18.5%)
3. Net Profit Tripled
The Group’s total revenue for 2023 reached €108.4 million, compared to €100 million in 2022, marking an 8.4% increase. This growth was driven by a 13.2% rise in advertising revenue, along with continued sales of programming and fictional productions both domestically and internationally.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023 amounted to €34 million, up from €28.7 million in the previous year, reflecting an 18.5% increase.
As a result, consolidated operating profit (EBIT) saw a significant 113.9% rise, reaching €8.2 million from €3.8 million in 2022, and net profits almost tripled from €1.2 million to €3.9 million (+209%).
In 2023, the Group further strengthened its capital structure, with consolidated equity increasing by 6.8% to €60.5 million from €56.6 million as of December 31, 2022.
Additionally, the Group’s net debt dropped significantly by 92.7%, standing at €2.2 million compared to €30.5 million in 2022.
Alter Ego Media CEO, Mr. Yiannis Vrentzos, stated:
“Alter Ego Media demonstrated strong growth in both sectors of its operations: Broadcasting (TV and Radio) and Content Creation & Publishing (Print & Digital). In 2023, we significantly improved our operational profitability, reaffirming our investment strategy aimed at maintaining our leadership in the Media & Entertainment industry. A core pillar of the Group’s strategy is its transformation into a Media Tech Group, specializing in content creation, distribution, and management through cutting-edge technological solutions. The Group’s performance in the first half of 2024 makes us optimistic that 2024 will be another record-breaking year for Alter Ego Media.”
