Q1 2026 Cyfrowy Polsat SA Earnings Call Transcript
Key Points
- Cyfrowy Polsat SA (FRA:CP9) reported a strong start to 2026 with revenue growth of 3% to over PLN3.6 billion, driven by the green energy segment.
- The company's multiplay strategy continues to show success, with a customer base exceeding 3 million and a 5.8% year-on-year increase in ARPU.
- The green energy segment saw an 18% increase in energy production year-on-year, contributing significantly to revenue and EBITDA growth.
- The Media segment secured exclusive broadcasting rights to UEFA Europa League and UEFA Conference League until 2031, enhancing its sports content offerings.
- Free cash flow for the last 12 months increased by nearly 63% to almost PLN1.2 billion, indicating strong cash generation capabilities.
- The Media segment's ad and sponsorship revenue growth was below market growth, partly due to a high base from the previous year and competition from events like the Winter Olympics.
- Churn in the B2C segment increased to 7.9%, at the upper end of the target range, due to contract consolidations and expirations.
- The prepaid segment faced downward pressure from strong competition and a natural migration towards contract offers, affecting mobile service numbers.
- Despite strong cash flow from operations, free cash flow after interest was slightly negative due to high interest rates and significant one-off payments.
- The real estate segment experienced lower revenue and EBITDA year-on-year, attributed to a high base from the previous year's strong performance.
Good afternoon, ladies and gentlemen. It is my pleasure to welcome you to the conference call of Polsat Plus Group for the first quarter of 2026.
Let's move to the next slide, please. Today's presentation will be delivered to you by Mr. Piotr Zak, President of the Management Board; Mr. Maciej Stec, Vice President; Ms. Katarzyna Ostap-Tomann, CFO; Mr. Bartlomiej Drywa, Management Board member; and Mr. Janusz Pliszka, Management Board member at Telewizja Polsat.
Let's move to the next slide, please. Here, you have the agenda of today's meeting. Bartek will start off by presenting the key highlights of the first quarter of 2026. After that, Maciej, Janusz and Bartek will discuss the operating results of our business segments. Kacha will then discuss the financial results of the past quarter, and we will sum up and answer all your questions in the Q&A session.
Before we move on, I would like to remind you that today, you can post in the Q&A panel. I would like to remind you that we do
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