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Seznam Increases Revenue and Profit, Earning CZK 1.36 Billion. Last Year Was Highly Successful, Reports CEO Zima

Translated by Milo Dvorak

10. 6. 2024

Business Newsletter #41

Good morning,

Today's newsletter is highly business-oriented, containing a number of commonly used expressions found across various if not all industries.

Published by on 6 June 2024.

newsletter 41
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In addition to growing financial indicators, the Czech company is also significantly expanding its presence, for example, in the field of artificial intelligence.

No slowdown in sight. Last year,, the largest Czech internet company, increased its pre-tax profit by 6.06% to CZK 1.362 billion. The company, founded by Ivo Lukačovič, also showed a more modest yet still growing trend in revenue, which rose by 0.18% to CZK 5.939 billion.

“We entered 2023 expecting to see a cooling domestic online market and ongoing economic recession. However, prudent investment planning and a more positive economic development allowed us to surpass the 2022 revenue,” stated Pavel Zima, a member of Seznam’s board. “This means we can consider last year to be very successful as well,” he added.

Success is reflected not only in rising numbers but also in the continuously expanding company's portfolio. Last March, Seznam opened its second data centre, Nagoja, in Benátky nad Jizerou. The homepage saw the addition of content from local governments, and fact-checking to clarify manipulative comments was introduced in discussions.

The number of navigations in the app – currently setting up a paid version – also grew by 22% year-on-year. The portal introduced a price map tracking the evolution of completed apartment prices in the Czech Republic. Long-term experience with machine learning has also led Seznam to establish a team developing its own generative language model, already slowly appearing in search functions, expected to be implemented in other Seznam services this and next year.

Recently, the company also introduced a subscription service that exempts users from targeted ads or location data collection. “The majority of Seznam’s revenue comes from advertising. If we have a stable user identity associated with their consent to process personal data, we can deliver targeted advertising to them. That being said, we fully respect users who do not want this type of targeted advertising on our services,” stated Jiří Udatný, Director of Seznam’s Identity and User Profile Division.

According to Chairman of the Board Ondřej Křišica, the company is also preparing for changes in the advertising market due to the end of third-party cookies support in Google Chrome. “We are focusing on working with user identity so that we can offer users the best possible experience even after the end of third-party cookies,” said Křišica.

“We have also launched a new programme that significantly helps distribute our solutions, such as Seznam login, towards publishers, advertisers, and e-shop platforms operating in the Czech online market,” he added. In the area of user data management, a new service, Seznam Activity, has been introduced to show users their browsing history. is owned by Ivo Lukačovič, who founded it in May 1996. The company operates the eponymous search engine, the news server Seznam Zprávy, Seznam Television, the service, and the platforms Sbazar, Sreality and Sauto. It also offers comparison shopping at Zboží.cz, weather forecasts at Počasí.cz, the Seznam browser, and the video portal.

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