Alter Ego Media Group: 2024 was a year of impressive financial growth

Alter Ego Media Group: 2024 was a year of impressive financial growth

• Turnover increased to €124.4 million (up 14.8% yoy)
• EBITDA rose significantly to €46.7 million (up 37.4% yoy)
• Earnings before interest and taxes (EBIT) soared to €17.1 million (up 108.9% yoy) and net profits to €10.9 million (up 180.0% yoy)
• Net cash as of 31.12.2024 at €5.4 million
• A dividend distribution of €0.10 per share before withholding tax (in accordance with the tax legislation), and the introduction of a three-year SCRIP dividend program up to a total amount of €30 million, will be proposed at the Annual General Meeting.

The financial results for the year ended on 31.12.2024 of Alter Ego Media, the country’s major media group, demonstrate strong growth across all financial indicators.

The year 2024 marked as a major milestone for the Alter Ego Media Group, recording impressive growth, both at operations and financials, across all active segments (see below). The Group’s performance was also the springboard for the Company’s listing on the Regulated Market of the Athens Stock Exchange, concluded successfully in early 2025.

Consolidated turnover for 2024 rose to €124.4 million from €108.4 million in 2023, an increase of 14.8%. The increase was driven by both a 15.5% rise in publishing turnover, to €38.4 million from €33.3 million in 2023, and an increase of 14.4% in turnover in the broadcasting and content creation segment, to €85.9 million from €75.1 million in 2023.

The Group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 37.4%, to €46.7 million compared to €34.0 million in 2023.

The Group’s earnings before interest and taxes (EBIT) increased by 108.9%, to €17.1 million from €8.2 million in 2023.

The Group’s net profits marked a significant increase by 180.0%, to €10.9 million from €3.9 million in 2023.

At balance sheet level, the Group’s capital structure and liquidity were further strengthened in 2024. As of 31/12/2024, consolidated equity amounted to €71.3 million, while net cash reserves (minus borrowing, excluding lease liabilities) stood at €5.4 million.
The Board of Directors will propose the distribution of a dividend amounting to €5,699,600 before withholding tax (in accordance with tax legislation), equating to €0.10 per share, for approval at the next Annual General Meeting.

Finally, the Board, evaluating the recent listing of the Company on the Athens Stock Exchange, the significant interest demonstrated with the oversubscription of the public offering that preceded, which at the company’s views was perceived as a vote of confidence from investors in the Company’s prospects, will propose to the Annual General Meeting the introduction of an optional dividend reinvestment plan, which will provide shareholders with the right to optionally reinvest their dividends in shares of the Company for a period of three years, up to an amount of €30,0 million. Based on the proposed plan for 2025, the maximum amount that shareholders of Alter Ego Media will be entitled to reinvest in shares amounts to €5,699,600.

The CEO of Alter Ego Media, Mr. Giannis Vrentzos, noted:
“2024 was a landmark year for Alter Ego Media Group. We initiated the strategic goal of transformation into a Media Tech Group specializing in the creation, distribution and management of content using cutting-edge technological solutions, and we launched the listing of our shares on the Athens Stock Exchange, which came to a successful conclusion in early 2025. The Group maintained a noteworthy rate of growth across all operating segments as well as achieving historically high financial results, consolidating further our strong position in the Greek Media & Entertainment market. During 2025, we will focus on implementing our investment plan, securing further growth for the Group in the Media sector, expanding into new activities, and creating long-term value for Company’s shareholders. Our ambition is to achieve all the aforementioned while adhering to our core principles of reliability, quality, innovation, business excellence, and sustainability. We are optimistic that 2025 will be another year of growth for Alter Ego Media.”

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About Alter Ego Media

Alter Ego Media is a major media Group in Greece. A large-scale group with over 1,000 staff members, it is also one of the largest content producer in the country.

The Group’s portfolio includes MEGA Channel, Greece’s most-viewed TV station, and the iconic and historic news media TO VIMA, TA NEA and OIKOΝΟMIKOS TAKHYDROMOS. The IN.GR portal, significantly contributed to the spread of Internet use in Greece, is another cornerstone of Alter Ego Media. The Group’s portfolio also includes the radio station MY RADIO, the production company ALTER EGO STUDIOS, and the content creation company MORE MEDIA.

Committed to responsible journalism and pluralism and with passion for high quality entertainment, Alter Ego Media is investing in new technologies and is evolving into a competitive Media Tech Group.