Q1 2025 Cyfrowy Polsat SA Earnings Call Transcript
Key Points
- Revenue increased by nearly 4% to PLN3.5 billion, and adjusted EBITDA rose by almost 5% to PLN809 million.
- ARPU per B2C customer increased by 4.2% to PLN77.7, and ARPU per business customer grew by 1.2% to over PLN1,500.
- Record low churn rate of 6.8% in the first quarter, indicating high customer satisfaction.
- Media segment achieved a 22.1% market share and grew advertising revenue by 4.1%.
- Green energy segment's EBITDA increased by nearly 16% to PLN57 million, with significant progress in wind farm projects.
- Net profit for the quarter was significantly impacted by non-cash settlement related to the sale of Asseco shares.
- Weighted average cost of interest on loans and bonds was high at 8.2%, affecting financial performance.
- Pay TV base is under pressure, though mitigated by growth in IPTV and OTT technologies.
- CapEx to revenue ratio for B2C and B2B services segment was temporarily high at 10%, due to IT and network projects.
- Net debt to EBITDA ratio slightly increased from 3.59 to 3.62, reflecting ongoing investments in green energy.
Good afternoon, ladies and gentlemen, and a warm welcome to the results call of Cyfrowy Polsat Group for the first quarter of 2025.
Could I please have the next slide. Today's presentation will be made by Mr. Miroslaw Blaszczyk, the CEO of Cyfrowy Polsat; Mr. Maciej Stec, the Vice President of Cyfrowy Polsat responsible for Strategy; and Ms. Katarzyna Ostap-Tomann, CFO and Management Board member responsible for ESG. (Operator Instructions)
Thank you. Mr. Blaszczyk, the floor is yours.
Good morning. Welcome to polls at first quarter 2025 earning conference. Today's presentation will follow our standard agenda. I will start by highlighting the key events of the past few months. Then Mai will discuss the operational results of our business segments, and Kasha will present the financial results.
I will conclude the presentation with a brief summary, and then we will move on to the Q&A session.
Let's move on to the key highlights of the past quarter.
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