Cyfrowy Polsat hit by declining voice revenues

Polish pay TV provider Cyfrowy Polsat posted reduced second-quarter revenues of PLN2.443 billion (€559 million), down from PLN2.469 billion for the same period last year. Net profit declined from PLN305 million to PLN231 million.

The company had 12.881 million revenue-generating units at the end of June, up from 12.744 million at the end of the first quarter. Pay TV customers numbered 4.632 million, including 973,000 multiroom customers.

Broadband customers numbered 1.689 million, while mobile subscribers numbered 1.667 million.

The company attributed the decline in revenues to a decrease in voice revenues, partially offset by higher pay TV and broadband revenue, as well as stronger advertising revenue and revenue from sales of equipment.

Costs increased due to higher depreciation costs, including those related to the acquisition of Midas Group.