In Q2 2025 Polsat Plus Group demonstrated growing financial and operating performance. The Group’s revenues increased to PLN 3.6 billion, while the number of multi-play customers grew to more than 3 million. Polsat TV’s spring program schedule enjoyed high viewership. Polsat-Interia Group maintained its leading position among online publishers. The Group generated 314 GWh of green energy from its own RES and it acquired project financing in the amount of up to PLN 953 million for its Drzeżewo wind farm.
Major events:
- In Q2 2025 Polsat Plus Group’s revenue increased by 3.9% YoY to the level of nearly PLN 3.6 bn, while adjusted1) EBITDA amounted PLN 824 mn.
- According to the new definition of a multi-play customer (any customer who has at least 2 services from any of the Group’s companies, including two services of the same kind), the Group has over 3 million multi-play customers.
- Consistent pursuit of the multi-play strategy is reflected in the growing ARPU of contract customers, where the ARPU of B2C customers increased by 4.3% YoY in Q2, while the ARPU of B2B customers increased by 4% YoY, coupled with low churn level, which decreased to 7.1%.
- Plus and Polsat Box have introduced new, easy and flexible rules of bundling of services (mobile voice subscription, fiber-optic Internet access, LTE/5G mobile Internet access, TV Polsat Box, streaming services): 2 selected services in the M (medium) variant are offered for a total of PLN 80 monthly; each additional service costs only PLN 30 monthly; any two video streaming services (Disney+, Sky Showtime, HBO Max, Polsat Box Go Sport or Polsat Box Go Premium) cost PLN 30 a month; while adding further two streaming services also costs PLN 30 a month. Upgrading the bundle from M to L also costs PLN 30 monthly.
- Thanks to the success of the spring program schedule and the high interest in sports coverage, TV Polsat Group’s channels noted very good results while increasing the audience share in Q2 2025 to 22.5%. Popular sports events covered by Polsat include UEFA Europa League, UEFA Conference League, tennis (including Wimbledon and the ATP series) and volleyball on Polsat Sport channels, as well as the French Ligue 1 McDonald’s, Spanish LALIGA EA SPORTS, German Bundesliga and Formula 1 racing, which are shown by Eleven Sports channels.
- In Q2 2025 Polsat-Interia Group had an average of 21 million users accessing its services monthly and it was the no. 1 among Internet publishers in Poland.
- Netia enriched its offer of cyber-security solutions for the B2B sector by adding the Managed EDR (Endpoint Detection and Response) service. While relying on, among other, behavioral analysis, the service safeguards endpoint devices (computers, servers, etc.) against all types of cyberattacks.
- Several dozen new TV stations were added to Polsat Box Go’s offer of TV channels, including 18 TVP Polish TV channels (TVP1, TVP2 as well as 16 regional versions of TVP3 channel), 19 Internet channels featuring Polsat TV’s most popular productions (7 theme channels and 12 channels devoted to individual titles), as well as TVN.
- Polsat Plus Group’s own RES installations generated 314 GWh of green energy in Q2 and 592 GWh in the first half of the year – up by 41% year-on-year in both cases.
- Polsat Plus Group acquired project financing for Drzeżewo wind farm in the amount of up to PLN 953 mn. The farm’s construction is nearing completion with all 63 wind turbines having been installed. Trial technical start-up of the installation is taking place – electricity is generated on a trial basis by 51 wind turbines.
“It has been a very good quarter for our Group. We have been consistently implementing the assumptions of our Strategy 2023+ across all areas. We have simplified our multi-play offer, we are successively consolidating customer value while the revenues have increased,” says Andrzej Abramczuk, President of the Management Board of Cyfrowy Polsat, Polkomtel and Netia, Polsat Plus Group. “Thanks to a very good TV program schedule of Polsat TV, as well as thanks to successful investments in sports broadcasting rights, our audience shares and advertising revenues continue to increase. We remain the no.1 among Internet publishers We are in the process of completing the construction of our biggest wind farm in Drzeżewo with the power of 139 MW, while project financing that we have acquired recently for this wind farm demonstrates positive assessment of our long-term strategy by financial institutions,” adds Andrzej Abramczuk.
Polsat Plus Group’s financial results – revenue growth
In Q2 2025 Polsat Plus Group posted very good financial results. The Group’s revenues increased by 3.9% YoY, reaching nearly PLN 3.6 bn, while adjusted EBITDA[1] remained stable at PLN 824 mn. Free cash flows for the past 12 months, adjusted to account for the CAPEX in the green energy segment, remain at a high level of over PLN 1 billion.
“We noted very good financial results which are in line with our expectations. The Group’s revenues grew by nearly 4%, reaching PLN 3.6 billion, while adjusted EBITDA was stable at PLN 824 million. The green energy segment generated PLN 66 million of EBITDA in Q2 and PLN 123 million in the first half of the year,” says Katarzyna Ostap-Tomann, the Management Board Member responsible for Finance and ESG at Cyfrowy Polsat, the Vice-President of the Management Board responsible for Finance at Polkomtel, Polsat Plus Group. “In spite of the high interest costs, the Group demonstrates high cash generating capacity. CAPEX is under control and recentlywe have acquired project financing in the total amount of up to PLN 953 million for our wind farm in Drzeżewo, whose construction is nearing successful completion” adds Ms. Katarzyna Ostap-Tomann.
Polsat Plus Group’s priorities for the second half of the year continue to be effective project management, strict cost control and maximization of the revenues from sale of green energy.
Segment of B2C and B2B services – further ARPU growth from contract customer base
Polsat Plus Group provides a total of over 20 million telecommunications and TV services (RGUs). In Q2 the Group posted very good sales results in the mobile telephony segment – growth by 209 thousand YoY. The number of Internet access services increased, in turn, by 159 thousand YoY.
More than 3 million customers, or 53% of all customers (growth by 1.7% or 49 thousand YoY), use multi-play offers while obtaining tangible financial benefits from bundling of the services provided by the Group’s companies. The average revenue per user for B2C contract customers increased by 4.3% YoY in Q1 and reached PLN 78.4, while churn ratio in the B2C segment decreased to 7.1%.
“We have been consistently implementing our multi-play strategy. We have introduced new, extremely simple and flexible rules of bundling of our services so as to focus even more on ARPU growth,” says Maciej Stec, the Vice President of the Management Board for Strategy at Polsat Plus Group. “In Q2 the number of multi-play customers increased by 1.7%, reaching more than 3 million. These customers account for as much as 53% of our customer base. We systematically build the ARPU of our contract customers – in the case of B2C customers it increased by 4.3% and reached PLN 78.4, while in the case of B2B customers it grew by 4% reaching more than PLN 1.5 thousand. We maintain a low churn level of 7.1%, which invariably demonstrates the high loyalty of our customers and the effectiveness of our multi-play strategy,” adds Maciej Stec
As regards the prepaid services segment, the Group has a big base of around 2.4 million customers generating high ARPU at the level of PLN 17.7. In the B2B segment we continue to maintain the scale of our operations while invariably serving 68 thousand clients, with the average revenue per user from this base increasing by 4% YoY in Q2 to the level of more than PLN 1.5 thousand monthly.
Media segment: TV and online – Polsat and Interia are no. 1
Polsat TV Group had very good viewership results and held strong position on the advertising market. The total audience share held by Polsat TV channels increased to 22.5% (7.3% for the main Polsat channel and 15.2% for theme channels) in Q2 and to 22.3% overall (7.4% for the main Polsat channel and 14.9% for theme channels) in the first half of the year. Polsat TV Group’s revenues from TV advertising and sponsoring increased by 3.3% and reached PLN 373 mn in Q2 2025, while in the first half of the year they increased by 3.7%, reaching PLN 693 mn. These results assured market shares in the TV advertising area of 28.2% and 28.4% respectively.
In Q2 2025 Polsat-Interia Group continued to be the leader among Polish publishers. It also remained the no. 1 in the mobile category. Each month Polsat-Interia Group’s web pages were accessed by 21 million users monthly on average, generating nearly 2 billion page views.
Green energy segment – growth of clean energy production by 41%
In the green energy segment Polsat Plus Group noted dynamic growth of energy production as a result of expansion of the wind power production capacity. In Q2 2025 the Group generated 314 GWh of green energy (111 GWh of wind power, 29 GWh of solar power and 175 GWh from biomass burning) – 41% more year-on-year. In the first half of the year the amount of the green energy that was generated was 592 GWh (216 GWh of wind power, 44 GWh of solar power and 332 GWh from biomass burning) – also 41% more on a year-on-year basis. The Group achieved high EBITDA from this segment – PLN 66 mn in Q2 and PLN 123 mn in H1 2025.
“Production of green energy from our RES increased by more than 40% in Q2 and H1. Soon our installed wind power capacity will be doubled as our newest and biggest farm in Drzeżewo, with power capacity of 139 MW, will be added. Construction works are nearing the end. All 63 wind turbines have been installed and 51 of them already generate electricity on a trial basis,” says Maciej Stec, the Vice President of the Management Board for Strategy at Polsat Plus Group. “The segment is providing tangible contribution to the Group’s financial performance – in the first half of the year it generated PLN 123 million of EBITDA. The new wind farm, whose full commercial launch is planned in Q4, will strengthen our EBITDA in subsequent reporting periods,” adds Maciej Stec.
