Half Year 2026 Cyfrowy Polsat SA Earnings Call Transcript
Key Points
- B2C ARPU growth accelerated to 6.5% year-on-year, driven by successful multiplay strategy and higher customer value.
- Strong free cash flow generation of nearly PLN1 billion on a rolling 12-month basis, up 33% from end of 2025.
- Renewable energy segment reached target shape with ~500 MW installed capacity, and H1 EBITDA increased by 34% year-on-year.
- Extended exclusive rights to UEFA Europa League and Conference League through 2031, strengthening long-term media offering.
- Improved TV advertising market share to 28.8% in Q2, despite a market decline of 6.2%.
- TV advertising and sponsorship revenues declined by 4.1% year-on-year due to market weakness and base effects.
- Combined audience share of all channels declined from 22.5% to 21.4% in Q2, impacted by competitor sports events.
- Green energy production in Q2 fell 11% year-on-year due to weather and market conditions, though H1 was up 3%.
- Net debt to EBITDA ratio increased to 3.63x, mainly due to spectrum reservation payments exceeding PLN800 million.
- Prepaid segment remains under competitive pressure, with service base flat at 2.2 million despite new offers.
Thank you for joining Polsat Plus Group's results conference call for the second quarter of 2026.
Let's turn to the next slide, please. Let me start by briefly introducing today's speakers. With us today are Maciej Stec; Anna Miller-Pytlak, who is the group's new CFO as of August; Bartlomiej Drywa; and Janusz Pliszka.
Let's turn to the next slide. Today's agenda is straightforward. Bartek will start with the key highlights from the second quarter. Then Maciej, Janusz, and Bartek will walk you through the operating performance of our main business segments. After that, Anna will discuss the group's financial results for the quarter.
Once the presentation is over, we will move to the Q&A session. (Event Instructions)
And with that, I will hand over to Bartek for the key highlights. Bartek, over to you.
Thank you, Agata. Ladies and gentlemen, let me now move you to
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