12 December 2024 · Corporate Update

Year-end review: Board confirms strong portfolio performance across all jurisdictions

Kashmir Limited’s Board of Directors has concluded its year-end strategic review at the company’s Larnaca headquarters, confirming strong operational and financial performance across all group companies and operating jurisdictions. The comprehensive review, conducted over two days of Board meetings in Cyprus, evaluated each subsidiary’s performance against strategic objectives established in the 2024 operational investment framework.

Altenberg continued to strengthen its position as one of Poland’s leading independent publishers, with total catalogue sales surpassing 700,000 copies. The publisher’s creator economy model has proven highly resilient, with new title releases consistently performing above market averages and the expanded author roster contributing to diversified revenue streams. The successful integration of ALT.PL as the group’s dedicated distribution platform has further enhanced margins and operational efficiency.

The media services division, launched earlier in 2024, exceeded initial projections, generating meaningful revenue from branded content production and advertising services. The Lisbon hospitality portfolio maintained occupancy rates above 95%, benefiting from Lisbon’s continued strength as a premium European tourism destination and the high quality of the professionally managed properties operated by Na Luz de Portugal.

The Board also reviewed progress on the group’s European expansion initiatives, noting that preliminary market research in Germany has identified promising opportunities for replicating the Altenberg publishing model in the German-language market. The Board authorised continued investment in market development activities during 2025.

“2024 has been our strongest year to date, with group companies delivering exceptional results across publishing, media services, and hospitality,” the Board stated. “The breadth and quality of our portfolio, combined with active management from our Cyprus headquarters, positions Kashmir well for continued growth as we enter 2025.”