Outperforming targets and expectations, Mediaworks Hungary Zrt reported annual sales of over HUF 16 billion. A leading publishing group in Hungary, Mediaworks has almost 650 employees, and owns over 60 media brands, including 8 regional newspapers, Nemzeti Sport, Népszabadság, Világgazdaság, several women’s and gastro magazines, and digital media products.
“Last year the management of the company group was restructured, more emphasis was given to product development and a cost management program was introduced. Revenues increased by 5 percent, and net earnings increased by 10 percent in 2015 compared to budgeted targets. Results indicate that consistently profitable operation of the company group is indeed possible despite challenging market conditions”, said Chief Executive Officer of Mediaworks Rónai Balázs.
Thanks to a large and modern printing facility of ideal geographical location (next to M0 bypass highway), Mediaworks has the largest printing capacity in Hungary which significantly contributes to the successful operation of the publishing group. Besides all print publications of Mediaworks, most national newspapers and commercial publications are printed there. The in-house, regional distribution network is also a great asset for the company.
“In response to readers’ needs and new trends, we refreshed and redesigned many of our products in 2015. It seems that changes were welcomed by advertisers, because advertising revenues of the company group outperformed targets and 2014 levels, despite that the print segment contracted by 7 percent”, added Mediaworks CEO Rónai Balázs.
The regional business segment performed outstandingly well, revenues exceeded targets by 11 percent, and were 5 percent higher compared to 2014. Political and economic newspapers and magazines performed as expected. In the area of sports, Mediaworks has remained the undisputed leader in both print and online, including social media. The online operation underwent significant modifications last year to increase its contribution to the company’s overall profitability. The segment outperformed targets by 9 percent in 2015.
In 2016 the management of the company group focuses on product development, organizational changes and acquisition possibilities.
Outperforming targets and expectations, Mediaworks Hungary Zrt reported annual sales of over HUF 16 billion.