Cyfrowy Polsat SA (LTS:0MNQ)

Q3 2024 Cyfrowy Polsat SA Earnings Call Transcript

Nov 21, 2024 / 03:00PM GMT

Release Date Price: zł25.1

Transcript

Key Points

Positve

Cyfrowy Polsat SA (FRA:CP9) reported a 12.7% increase in adjusted EBITDA, driven by strong operating performance and cost control.
The company expanded its 5G Plus network to over 3,800 transmitters, covering over 25 million people in Poland.
Cyfrowy Polsat SA secured exclusive broadcasting rights to the Formula 1 Grand Prix races from 2025 to 2028, enhancing its sports content offering.
The company achieved significant milestones in its green energy strategy, including the start of test production of green hydrogen and the installation of a 2.5-megawatt electrolyzer.
The green energy segment generated PLN82 million of EBITDA in Q3 2024, with expectations to contribute PLN500 million to PLN600 million annually by 2026.

Negative

The media segment faced challenges due to competitors holding broadcasting rights to major sporting events, impacting TV advertising growth.
Despite a 3% increase in advertising revenue, Cyfrowy Polsat SA's market share in TV advertising and sponsorship was slightly below the market growth rate.
The pay TV base is under pressure from a declining number of satellite TV services and the phasing out of the low-margin IPLA product.
The company's net debt-to-EBITDA ratio increased slightly to 3.4, indicating a need for careful financial management.
The B2C and B2B services segment's EBITDA was negatively impacted by a write-off of photovoltaic panel stock.

Agata Wiktorow;sobczuk

Cyfrowy Polsat SA - Head of Investor Relations

Ladies and gentlemen, good afternoon, and welcome to the earnings call of Polsat Plus Group for the third quarter of 2024. Could I have the next slide, please?

Today's presentation will be delivered to you by Mr. MirosÅaw BÅaszczyk, CEO of Cyfrowy Polsat; Mr. Maciej Stec, Vice President responsible for strategy; and Ms. Katarzyna Ostap-Tomann, CFO and Management Board Member responsible for ESG.

As usual, after the presentation, we will hold a Q&A session. I encourage you to post your questions in the chat section in advance. Thank you.

Mr. BÅaszczyk, the floor is yours.

Miroslaw Blaszczyk

Cyfrowy Polsat SA - President of the Management Board

Good afternoon, ladies and gentlemen, and welcome. The agenda of today's meeting is as follows. I will open the presentation with the key events of the third quarter of 2024. After that, Maciej will present the operating results of our business segments, and Kasia will present our financial results.

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