Agora’s ‘Gazeta Wyborcza’ newspaper copy sales slightly fell in October, with average daily copy sales dropping by only 0.4%, compared with the same month in the previous year, but rate of fall decelerated from 2.0% y/y in the previous month. However, all of the other national newspapers reported much weaker copy sales in October, with ‘SuperExpress’ tabloid down 9.9%, ‘Rzeczpospolita’ broadsheet down by 7.7% and ‘Fakt’ tabloid down by 9.6%. ‘Dziennik’ copy sales were only 202 135 copies, lower by 3.4% compared with the previous month.
Our view: In October, the month marked with the launch of political campaigning ahead of local elections, ‘Gazeta’ copy sales came weaker by only 2.7% compared with the previous month, slightly better than its main rival ‘Dziennik’, whose copy sales decreased by 3.4%, and much better than the rest of the peers. Hence the data has been announced during trading hours yesterday, we would expect only slightly positive impact of the news today. We reiterate our Buy rating for the stock.