The Cyfrowy Polsat Group can again boast very strong financial performance for Q4 2012 and throughout. In the past quarter, the profits of both the Group and its two business q , p p segments increased, thanks to realisation of synergies, an effective cost policy and moderate growth of the platform.
“It was another successful year for our Company. This past year, we pursued both organic growth and strategic acquisitions, while progressing a number of projects that helped us consistently implement the Group's growth strategy. All these actions, including the extension of our operation in the online services sector, strengthened the position of Cyfrowy Polsat as the leading provider of multimedia entertainment in Poland. In 2012, we achieved the expected synergies between Cyfrowy Polsat and Telewizja Polsat platform twice as fast as we had thought we would,” said Dominik Libicki, President of the Management Board, Cyfrowy Polsat S.A.
In Q4 2012, the Group recorded a 4% increase in revenue that was fuelled chiefly by moderate development of the retail business segment. Effective management of its cost base contributed to a 4% reduction in costs (net of depreciation and amortisation). As a consequence, the Group's EBITDA increased by 25% up to PLN 247m and its EBITDA margin increased by 5.5 ppt up to 32.9%. Net profit in Q4 2012 increased by 59% to PLN 122m, which was positively affected by the lower cost of debt service (thanks to earlier repayment of a portion of a loan in the amount of 200m) and valuation of EURdenominated Senior Notes.
“Last year, the macroeconomic and market conditions were not favourable to our business activity, which is why we are now very satisfied with our results, including an EBITDA in excess of PLN 1bn and the improved profitability of both business segments. Our strong financial performance and high cash flow allows the Company not only to regularly repay loans, but also prepay them, which puts us in a comfortable position for further expansion,” commented Tomasz Szeląg, Member of the Management Board in charge of Finance at Cyfrowy Polsat S.A.
