- Morizon S.A. (WA:MZN) is the No 1 independent Polish publisher of web services and search engines in the area of real estate with >1m offers. According to PBI/Gemius, the company’s portals, which are also available in a mobile version, have >10m monthly page impressions. Only those competitors have a higher ranking, who are controlled by large internet or media groups.
- After the acquisition of FinPack Sp. z.o.o in April 2016, Morizon has become the first one-stop-shop in Poland, where clients can place and search for real estate offers, check their credit score and get the best possible mortgage loan. The company has well-diversified revenue streams, which reduce its dependence on search engines. Its most important revenue sources are fees for classified ads, which it receives from real estate agents, developers and private individuals on a monthly basis, as well as remuneration for online (display) advertising campaigns. In addition, Morizon distributes own SaaS-based software products for real estate agents, developers and financial consultants and provides credit intermediary services.
- According to ZenithOptimedia, online advertising in Poland, which IAB estimates at PLN >3bn, will grow at 12% y-o-y in 2016. PwC/IAB forecast that by 2018E online will become the dominant advertising channel in Poland. The mobile segment, where Morizon has a strong presence, is expected to be the main growth driver. The general prospects for the Polish real estate sector remain solid due to strong economic growth, increasing incomes and record-low interest rates. Moreover, in Poland there is currently a deficit of at least 400k apartments.
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