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---
description: The October 2 report separates the group’s outstanding gift-card obligation from a smaller parent-company revenue adjustment attributed to fewer card campaigns.
title: MODIVO reports fewer gift-card promotions and PLN130.4 million in unused value
image: https://giftcard.news/images/social/v1/modivo-reports-fewer-gift-card-promotions-pln130-4-million-unused-value-00ef45751dec374a67ae94378d6616f1.jpg
---

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# MODIVO reports fewer gift-card promotions and PLN130.4 million in unused value

The October 2 report separates the group’s outstanding gift-card obligation from a smaller parent-company revenue adjustment attributed to fewer card campaigns.

By [Oliver Reed](https://giftcard.news/author/oliver-reed/) October 2, 2026 3 min read [ Google News ](https://google.com/preferences/source?q=giftcard.news&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) 

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![Cover of the MODIVO Group half-year report for February to July 2026](https://giftcard.news/images/variants/v1/modivo-reports-fewer-gift-card-promotions-pln130-4-million-unused-value-cover-w299.webp) 

 The October 2 report discloses both unused gift-card liabilities and promotional issuance adjustments. Photo: MODIVO Group 

[MODIVO Group](https://giftcard.news/organization/modivo-group/) reported PLN130.4 million in liabilities for sold or issued gift cards that remained unused at July 31, while its parent company said fewer gift-card promotions had reduced a separate revenue adjustment. The figures appear in the half-year report published on October 2\. [\[S01\]](#article-source-1) [\[S02\]](#article-source-2)

The consolidated unused-card balance fell by PLN46.1 million from January 31\. It covers both purchased and issued cards, so it is not a measure of how much customers spent buying gifts. Nor does the net movement establish gross card redemptions during the six-month period.

## Promotional cards change the timing of revenue

The report explains how a free virtual gift card issued with a goods purchase and MODIVO Club participation creates a further customer entitlement. The group assigns part of the purchase price to that entitlement, adjusted for the likelihood of redemption, and records an obligation alongside a reduction in revenue from the original goods sale. [\[S01\]](#article-source-1)

For the group as a whole, the first-half revenue adjustment associated with gift cards was PLN105.5 million. MODIVO describes this as issued card value after allowing for cards it does not expect to be redeemed.

In the separate accounts of parent company [MODIVO S.A.](https://giftcard.news/organization/modivo-s-a/), the corresponding adjustment was PLN44.7 million, down from PLN131.2 million a year earlier. Management attributes that decline primarily to fewer promotional campaigns involving gift-card issuance. Those parent-company amounts have a different reporting scope from the PLN105.5 million consolidated figure and should not be added together.

The disclosure therefore identifies a change in promotional activity, rather than demonstrating a fall of the same amount in paid gift-card demand. It does not provide a complete reconciliation of card sales, promotional issuance, redemptions and unredeemed-value recognition.

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## In this article

### Organizations

* [MODIVO Group](https://giftcard.news/organization/modivo-group/)
* [MODIVO S.A.](https://giftcard.news/organization/modivo-s-a/)
* [MODIVO.EU](https://giftcard.news/organization/modivo-eu/)

### Sources and documents

* [\[S01\] Half-year report, gift-card notes and group business context](https://modivoplatform.com/en/download/pobierz/interim-condensed-consolidated-report-of-the-modivo-group-for-01-02-2026-31-07-2026?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — MODIVO Group
* [\[S02\] Dated official report archive](https://modivoplatform.com/en/reports?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — MODIVO Group
* [\[S03\] Earlier preliminary results announcement](https://modivoplatform.com/en/current-report-no-44-2026?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — MODIVO Group

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![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) 

About the author

## [Oliver Reed](https://giftcard.news/author/oliver-reed/)

Journalist — Industry Deals & Research

Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.

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