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's activity report 2022

Activity Overview

Duo Media Networks is the largest television and radio company in the Baltic States, operating 17 television channels in 31 countries and in seven languages. In addition, the company owns 9 radio stations in Estonia.

While the main channel Kanal 2 is primarily aimed at the 18-59 age group, the sister channels offer programs for everyone from toddlers to the elderly. The selection includes the more masculine television channel Duo 5 and the channel Duo 4, which represents softer and more feminine values.

The channels for comedy, crime and thriller series are Duo 6 and Duo 3, the movie channels are Filmzone and Filmzone+, and the television channels specifically aimed at children have been created according to age preferences - Smartzone, Kidzone TV, Kidzone Mini and OSN Kidzone TV in the Middle East region.

The best moments and stars of domestic television history are brought to the viewers by Eesti Kanal.

The diverse selection of television channels also includes channels for Russian-speaking viewers. In addition to the Russian main channel Kanal 7, the selection also includes the movie channel Kino 7, the entertainment channel with the best series and Hollywood movies Kanal 7+ and the fun and educational television channel for Russian-speaking children, Semejka.

In the reporting year, the platform for free viewing of television programs was completely renewed in cooperation with Postimees Group, which was renamed DuoPlay.

In addition, Duo Media Networks expanded into Hungary in the last financial year with a new service, launched in cooperation with the largest market operator

Kidzone-branded VOD service.

In addition to television channels, the media group also includes Elmar, the most popular commercial radio station in Estonia, and Kuku, Estonia's oldest and most unique news and information radio. The younger listener is entertained and provided with the latest music hits by MyHits radio, Raadio Duo aimed at women, and Narodnoe Radio and dance DFM for Russian-speaking listeners. The newest radio stations are Duo Gold, which plays gold-standard music from 1955 to 1975, Duo Greatest Hits, which broadcasts the best pop-rock hits from the 70s to the present, and Elmari Tantsuõhtu, which offers only Estonian dance music, broadcast from May on digital radio platforms (DAB+) in Harju County, Tartu County, Pärnu County,

Lääne-Viru County and Järva County.

This financial year, the audio listening environment Pleier was fully completed and the Pleier app was launched, which allows you to listen to several radio stations live and also listen to broadcasts of Duo Media radio stations.

The main focuses for the next financial year will be growing the business in Latvia and Lithuania, both by strengthening existing services and introducing new ones to the market. In Estonia, the main goal is to further develop digital radio DAB+ and to secure and increase market position in certain segments of the television market. Research and analysis will also continue on possible expansion into new markets.

Overview of the financial year 2022/2023 Duo Media Networks OÜ's sales revenue amounted to 23,163,762 euros, growing by 13% over the year. The growth mainly came from television advertising sales, which grew by approximately 25% over the year. 86% of sales revenue came from sales to Estonia and 11% to other Baltic countries. In addition

sales revenue in Latvia was growing rapidly, increasing by 71% to 1.5 million euros over the year.

The basis for the growth in sales revenue is increased investments in quality broadcast programming and well-planned marketing activities, as a result of which the cost of the company's sold production has also increased by 11%. The increase in costs is due to both license and own production costs and personnel costs.

Duo Media Networks significantly improved its financial results in 2022/2023. The company's profit before interest, taxes and depreciation increased approximately 10 times to 1.1 million euros. Continuing to increase efficiency and improve financial results will also be a focus for the next financial year.

Main financial ratios: 2022/2023 2021/2022

Sales revenue 23,163,762 20,510,043

Profit before interest, taxes and depreciation 1,137,671 117,155

Net profit -104,613 -981,855

Short-term liabilities coverage ratio 1.1 1.1

Formulas used in calculating ratios:

Short-term liabilities coverage ratio (times) = current assets/short-term liabilities