Year’s results up again.
The Group K2 Internet S.A. improved its results for 2011 for all items of the profit and loss account, with the Group’s net profits exceeding PLN 5 million for the first time.
In the period of 12 months ending 31 December 2011, the Group K2 Internet S.A. generated revenue from the sale of products and services of PLN 62,780,000, an increase of 12.5% compared with the same period in 2010. EBIDTA in that period was PLN 7,408,000, which is an increase of 21% compared with the same period in 2010. EBIT and net profits were PLN 5,967,000 and PLN 5,057,000 respectively, which constitutes an increase by 20.3% and 18.4% respectively compared with 2010. The balance sheet total as at 31 December 2011 was PLN 36,914,000. The balance of the short-term receivables, loans, cash and current liabilities dropped from PLN 12,012,000 in 2010 to PLN 9,120,000 at the end of 2011.
The year 2011 saw many changes. The subsidiary K2 Search quickly built a stable portfolio of customers, acquired a strong team of specialists and accomplished positive financial results. In mid-year some changes were made to the ownership structure of the company MDPL (the owner and the operator of the website Audioteka.pl). This will allow an external investor to enter that part of the business of the K2 Group in the first half-year of 2012. Finally, at the end of the year, the Group took over the remaining 50% of the shares in the company Brainshop U-boot, thus becoming its sole owner. The next year saw a change to the agency's brand (Good), its management and its positioning.
”Our ambition is to become the undisputed leader in terms of creativity and innovativeness on the marketing and advertising services market. The year 2011 drew us closer to achieving this goal. It brought the K2 Group 18 awards and 10 honourable mentions in Polish and foreign competitions, including a special prize: the Golden Eagle for the “Artistic Director of the Year” for Wojtek Łebski. That year was also special for us in terms of foreign awards for the realization of the multi-media application “Experience the Music” for MTV Live HD, produced under a contract for the group Viacom International Media Networks in Poland.” – says Janusz Żebrowski. – “It is with particular satisfaction that we would like to mention the results of the GRAND CHECK research, commissioned by the monthly magazine PRESS, which shows that K2 is the leader among interactive agencies. With more than 300 employees and a versatile range of skills, we have everything we need to effectively compete for customers' budgets, not only in the “digital” sphere. At the same time, we would like to develop new initiatives, which will allow us to commercialize our know-how and to repeat the market success of Audioteka.” – adds Żebrowski.