The Management Board of Cyfrowy Polsat S.A. (the "Company", "Cyfrowy Polsat") hereby informs that during the work on the standalone financial statements and the consolidated financial statements of Cyfrowy Polsat S.A. Capital Group (the "Group") for the year 2025, one-off events have been identified that will materially impact the financial results of the Group and the Company for the fourth quarter of 2025.
One-off events impacting consolidated results
1. In accordance with International Accounting Standards (IAS 2), an impairment loss of photovoltaic panel inventories in the "B2C and B2B Services" segment was recognized in the consolidated financial statements for Q4 2025 in the amount of PLN 83.6 million.
The impairment loss will negatively impact the consolidated EBITDA and net result of the Group for Q4 2025. The impairment loss results from a significant deterioration of market conditions in the photovoltaic panel market in Poland and is non-cash in nature.
2. As a result of mandatory annual impairment tests prepared in accordance with IAS 36, the following will be recognized in the consolidated financial statements:
a. impairment of goodwill in the "B2C and B2B services" segment in the amount of PLN 2,000.0 million;
b. impairment of goodwill in the "Media: television and online" segment in the amount of PLN 716.9 million.
The recognition of goodwill impairment results from changes in assumptions applied in impairment tests as compared to previous years, particularly due to changes in current and forecast macroeconomic and market conditions.
The above impairment losses will negatively impact the consolidated net result for Q4 2025 in the total amount of PLN 2,716.9 million. The impairment losses are non-cash and do not affect the consolidated EBITDA of the Group or the current operations of the Company and the Group.
One-off events impacting standalone results
In parallel, in accordance with IAS 36, an impairment loss of the value of shares held in the subsidiary Polkomtel Sp. z o.o. in the amount of PLN 635.5 million will be recognized in the Company’s standalone financial statements.
The impairment will negatively impact the standalone net result of the Company for Q4 2025. It is non-cash in nature and does not affect the standalone EBITDA result or the current operating activity of the Company.
The Management Board of the Company notes that the financial statements are subject to audit by a statutory auditor and therefore the amounts presented in this report are not final and may be subject to change. Final results will be presented in the Company’s standalone report and the Group’s consolidated report for 2025, to be published on 29 April 2026.