Cyfrowy Polsat turns in solid quarter

Polish pay and free TV operator Cyfrowy Polsat reported a solid first quarter, with revenues up 4.6% to PLN2.389 billion (€566 million) and EBITDA up by 7.4% to PLN929 million.

The group had 16.216 million revenue-generating units at the end of the period, down 1.9% year-on-year.

Pay TV contract subscribers were up 4.9% to 4.786 million, while broadband customers were up 7.2% to 1.766 million. Multiroom TV customers were up 7.7% to 1.031 million. Mobile contract revenue were also up, by 3.8% to 6.785 million.

Cyfrowy Polsat’s pre-paid TV base was also up by 34.9% to 48,224. However, the group saw a sharp decline on pre-pay mobile customers over the year, by 24.3% to 2.646 million. Pre-pay internet customers were also down.

Polsast said that a decrease in revenue from voice services was partially compensated by higher pay TV, internet and data services revenue, with higher revenue from equipment sales also contributing to its top line.

Advertising revenues were up, outperforming a flat Polish ad market with a 1.9% rise to PLN234 million.

Costs were also, up partly as a result of higher content costs and costs associated with the production of the flagship Polsat channel.

Note: An earlier version of this article incorrectly stated that Cyfrowy Polsat had 1.786 million contract pay TV customers and 1.788 million broadband customers.