Digital Network (DIG) Q1 2025 earnings summary

Executive summary

• Consolidated sales revenue for Q1 2025 reached PLN 15.4 million, up 25% year-over-year, with 97% from digital out-of-home (DOOH) advertising.

• Operating profit rose 74% to PLN 5.5 million, EBITDA increased 42% to PLN 8.6 million, and net profit grew 52% to PLN 5.0 million compared to Q1 2024.

• The group maintains a leading position in Poland's DOOH market, operating 20,000 digital screens nationwide.

Financial highlights

• Gross margin on sales improved to 51% (up 4 p.p.), operating margin to 36% (up 10 p.p.), EBITDA margin to 56% (up 7 p.p.), and net margin to 33% (up 6 p.p.) year-over-year.

• Cash flow from operations was PLN 9.1 million, with net cash increasing to PLN 20.0 million at quarter-end.

• Total assets stood at PLN 90.8 million, equity at PLN 55.0 million, and total liabilities at PLN 35.8 million as of March 31, 2025.

Outlook and guidance

• Management expects continued growth in DOOH, supported by favorable macroeconomic trends, digital transformation, and increasing advertising budgets.

• The Polish advertising market is forecast to grow by 10% in 2025, with DOOH as the fastest-growing segment.

• No official financial guidance for 2025 has been published.