1923 Investments plc registers 40% growth in revenue

Apple Premium Reseller business in Poland was the main contributor behind the €282 million in consolidated revenue registered in 2023 by 1923 Investments plc, a subsidiary of Hili Ventures.

In its financial statements for the year ending December 2023, 1923 Investments plc registered a strong performance across its key markets, especially in Poland following the acquisition of Cortland acquisition, and a 10% increase in organic revenue due to strong retail performance at iSpot.

The consolidated revenue of €281.8 million meant an increase by over 40% when compared to €197.5 million registered for the previous year.

1923 Investments is the holding company behind iSpot, Poland’s largest Apple Premium Reseller business. Following the acquisition of its largest competitor Cortland in March last year, iSpot now has a network of 48 Apple Premium Resellers and service points across major Polish cities. In 2023, the Apple business contributed to more than 90% of total group revenue.

“2023 was an eventful year in which we streamlined our business, expanded our most successful operation, and sharpened our focus, leading us to achieve an unprecedented €282 million in revenue,” says chairman David Bonett.

EBITDA reached €17.9 million and 1923 Investments closed the year with profit before tax from continuing operations of €7.3 million, compared to €4.3 million in 2022.

1923 Investments is the holding company behind iSpot, Poland’s largest Apple Premium Reseller business.