TALLINN — Estonia’s largest news publication company Ekspress Group reported Friday that it lost 189 million krooni (€12.1 million) loss in 2009.

Despite the headlines that came with the crisis, sales were only 983.5 million krooni (€62.8 million) compared to 1.2 billion krooni (€80.2 million) in 2008. Depressed ad sales put a large dent in revenue, like most [private_supervisor]Estonian media.

The company’s loss in the fourth quarter was 109 million krooni (€6.9 million). Ad sales and subscription revenue totaled 267 million krooni (€17.1 million), down by 21 percent compared to the previous year.

The sales revenue of online media, including the Delfi sites, Eesti Päevaleht, Maaleht, Eesti Ekspress, and SL Õhtuleht fell by 27.2 percent to 118.3 million krooni (€7.6 million).

Delfi writedown hurt revenue

The group also had to take a major loan to buy Delfi news portal in 2007.  Gunnar Kobin, CEO of Ekspress Group said that the company’s loss was mainly affected by the crimp on Delfi ad revenue, interest payments on the Delfi purchase loan and the loss-making sale of Ekspress Hotline. However Kobin said that the company’s long-term finances are healthy.

“But if you see the pre-tax, pre-interest payment results, then it should be positive,” Kobin told Baltic Reports. “In 2010 we plan to hype up the company a bit more and we hope that the fall of the revenue will stop and starts to rise.”

Kobin said that Delfi’s strongest market position is in Lithuania, where it has more ad sales than in Latvia and Estonia.[/private_supervisor] [private_subscription 1 month]Estonian media.

The company’s loss in the fourth quarter was 109 million krooni (€6.9 million). Ad sales and subscription revenue totaled 267 million krooni (€17.1 million), down by 21 percent compared to the previous year.

The sales revenue of online media, including the Delfi sites, Eesti Päevaleht, Maaleht, Eesti Ekspress, and SL Õhtuleht fell by 27.2 percent to 118.3 million krooni (€7.6 million).

Delfi writedown hurt revenue

The group also had to take a major loan to buy Delfi news portal in 2007. Gunnar Kobin, CEO of Ekspress Group said that the company’s loss was mainly affected by the crimp on Delfi ad revenue, interest payments on the Delfi purchase loan and the loss-making sale of Ekspress Hotline. However Kobin said that the company’s long-term finances are healthy.

“But if you see the pre-tax, pre-interest payment results, then it should be positive,” Kobin told Baltic Reports. “In 2010 we plan to hype up the company a bit more and we hope that the fall of the revenue will stop and starts to rise.”

Kobin said that Delfi’s strongest market position is in Lithuania, where it has more ad sales than in Latvia and Estonia.[/private_subscription 1 month] [private_subscription 4 months]Estonian media.

The company’s loss in the fourth quarter was 109 million krooni (€6.9 million). Ad sales and subscription revenue totaled 267 million krooni (€17.1 million), down by 21 percent compared to the previous year.

The sales revenue of online media, including the Delfi sites, Eesti Päevaleht, Maaleht, Eesti Ekspress, and SL Õhtuleht fell by 27.2 percent to 118.3 million krooni (€7.6 million).

Delfi writedown hurt revenue

The group also had to take a major loan to buy Delfi news portal in 2007. Gunnar Kobin, CEO of Ekspress Group said that the company’s loss was mainly affected by the crimp on Delfi ad revenue, interest payments on the Delfi purchase loan and the loss-making sale of Ekspress Hotline. However Kobin said that the company’s long-term finances are healthy.

“But if you see the pre-tax, pre-interest payment results, then it should be positive,” Kobin told Baltic Reports. “In 2010 we plan to hype up the company a bit more and we hope that the fall of the revenue will stop and starts to rise.”

Kobin said that Delfi’s strongest market position is in Lithuania, where it has more ad sales than in Latvia and Estonia.[/private_subscription 4 months] [private_subscription 1 year]Estonian media.

The company’s loss in the fourth quarter was 109 million krooni (€6.9 million). Ad sales and subscription revenue totaled 267 million krooni (€17.1 million), down by 21 percent compared to the previous year.

The sales revenue of online media, including the Delfi sites, Eesti Päevaleht, Maaleht, Eesti Ekspress, and SL Õhtuleht fell by 27.2 percent to 118.3 million krooni (€7.6 million).

Delfi writedown hurt revenue

The group also had to take a major loan to buy Delfi news portal in 2007. Gunnar Kobin, CEO of Ekspress Group said that the company’s loss was mainly affected by the crimp on Delfi ad revenue, interest payments on the Delfi purchase loan and the loss-making sale of Ekspress Hotline. However Kobin said that the company’s long-term finances are healthy.

“But if you see the pre-tax, pre-interest payment results, then it should be positive,” Kobin told Baltic Reports. “In 2010 we plan to hype up the company a bit more and we hope that the fall of the revenue will stop and starts to rise.”

Kobin said that Delfi’s strongest market position is in Lithuania, where it has more ad sales than in Latvia and Estonia.[/private_subscription 1 year]

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