Financial data

Baltijas Mediju Alianse (BMA) is a privately held company. The BMA Baltic office is located in Riga, 12-3 Gertrudes Street, LV-1010, Latvia. The company is registered with the number 40003924920. Affiliated companies have their offices in Vilnius and Tallinn.


Baltijas Mediju Alianse is the international media group whose operations are conducted in three Baltic States (Latvia, Lithuania, Estonia), and include broadcasting of television channels mobile media (internet and public transport), and content production for television and other media. The BMA media holding comprises 11 business units in the three Baltic States and is among the largest Baltic media holdings. BMA is the leading Baltic media company as to the number of media for national minorities and reach to these target audience.

The main sources of income for the Group lay in three business areas: revenues from advertising on television and in press, profits from subscriptions to BMA TV channels distributed in commercial networks of digital and cable operators, and profits from publishing activities. The economic year of BMA coincides with the calendar year (January 1 – December 31).


Financial data for Year 2016

Financial data for Year 2015

Financial data for Year 2014

Business Review for 2013

Annual report of BMA is provides in a consolidated form.

The group turnover in 2013 amounted to EUR 20.6 million, which is 2% less than a year earlier (given dynamic exchange rates). The main reasons for this turnover were associated with a relative stagnation in the Baltic TV advertising market, strong price competition among media market players, and unprofessional and prejudiced activities of the Radio and Television Commission of Lithuania (LRTK) to partly restrict the content of the PBK channel in Lithuania.

According to the official data of the Latvian Advertising Association (LRA), the Latvian advertising market increased by +3.6% during 2013, including TV advertisement by +1.6%, and press advertising by +2.1%. Dynamics of TV revenues of BMA corresponded to market dynamics (+1.5%), and profits from press advertising repeatedly outran the market (+35%). In Lithuania, the television advertising market in 2013 showed negative dynamics (-1.2%) against the previous year, and BMA profits were down to -5.8%. In 2013, all TV advertising budget amounts in Estonia increased by 5.2% (dynamics of this BMA income segment equalled -2%) as compared to 2012, and advertisements in the Estonian press decreased by 4.2% (while ВМА rose by +3%).

The subscription database of network operators that distribute BMA TV channels remained stable with the tendency towards increase (+11.9% across the Baltics). At the same time, BMA earnings from channel distribution in 2013 increased by 12.5% compared with 2012, including by means of raising subscription prices.

Reasons that had their impact on ВМА turnover also partly explain the net economic loss. Moreover, the growth of operating expenses was due to the increased purchases of TV content and the rising scale of expenditures on satellite delivery of TV signal because of the introduction of our new channels. BMA reserves persistently strong liquidity ratio on all levels, and the working capital level was all-time low in 2013, which, on the one hand was caused by some deceleration in activity, and on the other hand – by significant improvement in credit policy and cashflow controllability.

Asset growth in 2013 amounted to +5.6%, with an especially significant gain in the segment of fixed assets (+15.5%). In 2013, considerable attention was paid to investments for upgrading the equipment and technology of the broadcasting studio in Riga. It had to do with launching of new channels (REN TV Lietuva), changing the broadcasting concept and technology for some of the existing channels, usual upgrading of technical aids, as well as with researching the alternatives for delivering TV audio/video content. These investments should ensure future increase of our audience, market share and profit level. It is also a strategic direction of BMA investment in 2014 and in the mid-run. Furthermore, BMA is constantly exploring projects and opportunities to invest in areas related to television broadcasting, as well as looking for partnership and co-operation opportunities in these areas on the Baltic and global markets.

Financial data for 2013.

Financial data for 2012.

Financial data for 2011.