Half Year 2024 Cyfrowy Polsat SA Earnings Call Transcript
Key Points
- Cyfrowy Polsat SA (WAR:CPS) reported a 2.9% growth in retail revenue, driven by increases in ARPU across B2C, B2B, and Prepaid segments.
- The company expanded its Fixed Broadband Internet Access services coverage by almost 50%, reaching over 10 million households.
- Cyfrowy Polsat SA secured exclusive broadcasting rights for UEFA Europa League and UEFA Conference League, enhancing its media content offerings.
- The Green Energy segment saw significant progress with the commissioning of the Przyrow wind farm, increasing wind generation capacity to 150 megawatts.
- The company achieved a stable viewership share of 22% in the commercial group, maintaining a strong position in the TV advertising market with a 28% share.
- The company faces inflationary pressures on technical costs, content production, and wages, which could impact future profitability.
- Net debt-to-EBITDA ratio, excluding project financing, was 3.3 times, with expectations of an increase due to higher CapEx in the Green Energy segment.
- The Media segment experienced higher content and marketing costs, which pressured EBITDA despite stable viewership.
- Interest payments remain high, continuing to exert pressure on free cash flow generation.
- The B2C and B2B Services segment faced revenue pressure from MTR cuts and lower equipment sales, despite maintaining high margins.
Good afternoon, and welcome to the earnings call of Polsat Plus Group for the second quarter of 2024. Can I have the next slide, please? Today's presentation will be delivered to you by Mr. Miroslaw Blaszczyk, CEO of Cyfrowy Polsat; Mr. Maciej Stec, Vice President responsible for Strategy; Ms. Katarzyna Ostap-Tomann, CFO and Management Board member responsible for ESG; and Mr. Piotr Zak, President of the Management Board at Telewizja Polsat. (Operator Instructions)
Thank you. Mr. Blaszczyk, the floor is yours.
Good afternoon, ladies and gentlemen. Welcome to our results conference call for the second quarter of 2024. Today's presentation is divided into four sections. I will present the key highlights of the past quarter, after, Maciej will show you the operating results in our business segments, and Kacha will discuss our financial results. I will end the presentation with a quick summary, and we will move on to the Q&A section.
Next slide, please. Let's start with the
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