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The Warsaw Voice » Business » April 16, 2008
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MediaWorks to Enter NewConnect
April 16, 2008   
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Warsaw-based outdoor advertising company MediaWorks SA will be the first ad company to enter the Warsaw Stock exchange's alternative market, NewConnect. The company is planning a pre-IPO private placement, followed by a debut on NewConnect in the first half of this year. The issue will be worth over zl.10 million, according to estimates, and will be aimed at institutional investors.

The funds will be used for further development and acquisitions of companies operating in the outdoor advertising segment.

The MediaWorks group owns two outdoor ad companies, Watch Out Door and Flaming Advertising Polska. Watch Out Door administers a network of billboards located at Poland's biggest and most attractive golf courses. This strategy enables the company to reach clients with above-average earnings who are interested in upper-shelf products.

Flaming Advertising Polska is an outdoor advertising broker that carries out campaigns ordered by media houses in Poland. The company has just signed a contract to handle a media budget of zl.7.9 million net from European Union funds over 2008-2010. The company at present generates 80 percent of the group's revenue, with 20 percent provided by Watch Out Door.

MediaWorks' strategy and the attractiveness of this market segment are confirmed by the group's financial performance. Last year, the company recorded a revenue of zl.6.6 million, with zl.2.1 million gross profit. This year, according to conservative estimates by the company's managers, revenue will reach zl.25 million, a growth of 278 percent, and gross profit will be zl.5 million, an increase of 150 percent.
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