The Management Board of Cyfrowy Polsat S.A. (the "Company") hereby informs that on 21 May 2025 it adopted a resolution on the submission to the Supervisory Board of the Company for assessment of a motion concerning the distribution of the Company’s net profit for the fiscal year 2024. The Management Board recommends to allocate the Company's net profit for the fiscal year 2024 in the amount of PLN 405,839,754.30 (four hundred and five million eight hundred and thirty nine thousand seven hundred and fifty four zlotys and thirty grosze) in full to the reserve capital.
In adopting the above mentioned decision, the Management Board took into account the level of the Company’s net debt to EBITDA LTM ratio (excluding project financing), which for the last reported period exceeded the level of 3.5x allowing for dividend payout. The elevated level of the net debt to EBITDA LTM ratio is due to continued high interest rates throughout 2024 and, consequently, high debt service costs and inflationary pressure. In parallel, as part of its Strategy 2023+ the Company is consistently pursuing strategic investments in the area of renewable energy sources, aimed at continuing the development of the Company's capital group over the long term in accordance with the overarching strategic objective of sustainably growing the Company's value for its shareholders.
Legal basis | Article 17 Section 1 of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. |