Neo Advertising today announced that it has established a subsidiary in Warsaw, Poland. This is their first development in the CEE region, though we expect not their last. Neo themselves havce suggested that there will be a “second development by the end of second quarter of 2008”.
Neo have again entered a country through the establishment of a majority-owned subsidiary – basically Neo Advertising Poland operates as an independent subsidiary reporting directly to Neo Group Switzerland.
A local management team has been appointed and we are told that the company is, within weeks, set to announce significant roll outs in the retail and the transportation sectors!
Christian Vaglio-Giors, CEO Neo Group told us “As a media owner Neo must develop its offer in the fast developing economies, where FMCG and CE brands can post double digit growth rates. In this perspective Poland is a fantastic market with a large consumer base and strong GDP growth.”
Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. In 2007, GDP grew an estimated 6.5%, based on rising private consumption, a jump in corporate investment, and EU funds inflows. GDP per capita is still much below the EU average, but is similar to that of the three Baltic States. Since 2004, EU membership and access to EU structural funds have provided a major boost to the economy. Unemployment is falling rapidly, though at roughly 11% in December 2007. Poland population reaches 38.5 million inhabitants.
About Neo Advertising
Neo Advertising is a European leading provider and operator of Digital Out Of Home networks. Neo Advertising operates 15’000 public displays, partners with tier-1 institutions such as French retail chain Carrefour, German retail chain Edeka as well as most prestigious real estate owners. Neo Advertising operates in Belgium, Canada, Germany, Portugal, Spain, Switzerland and in the Netherlands.