26 million people within the coverage footprint of Plus’s 5G network, Polsat-Interia Group is the leader among Internet publishers, new wind farms and start of green hydrogen production
2024 was a very good year for Polsat Plus Group, both in terms of operating as well as financial results. Revenues increased to the level of PLN 14.3 bn, adjusted EBITDA increased to PLN 3.3 bn while net profit grew to the level of PLN 777 mn. The Group is in the process of finalizing the assumptions for its Strategy 2023+ and is completing the development of a new pillar of its business operations – green energy and hydrogen, where the target capital expenditures are expected to be by PLN 1.1 bn lower than originally assumed.
The Group has increased the coverage of Plus’s 5G network which now reaches 26 million people. Plus’s and Netia’s fixed-line Internet access service reaches 11 million households. The offer of sports TV channels has seen reinforced substantially. Polsat-Interia Group was the leader among on-line publishers. The Group generated over 1 TWh of energy from own RES sources and it has developed the full hydrogen economy value chain.
Major events:
- In 2024 Polsat Plus Group’s revenue increased by 4.7% yoy and reached ca. PLN 14.3 bn, adjusted[1] EBITDA increased by 9.6% to the level of PLN 3.3 bn while net profit increased by nearly 150%, reaching PLN 777 mn
- The consistent pursuit of multi-play strategy is reflected in the growing ARPU of contract customers – the ARPU generated by B2C customers increased by 5.2% in Q4 while in the case of B2B clients, the growth was 4.6% yoy. Meanwhile churn decreased to as little as 7%.
- The coverage of Plus’s 5G network increased and now extends over an area inhabited by 26 million inhabitants of Poland, with 5G Ultra service, which offers data transfer rates of up to 1 GB, reaching nearly 17 million of the country’s inhabitants. With a view to continue the development of its 5G network, the Group extended its spectrum reservation for 2.6 GHz TDD frequency band and acquired spectrum reservation in the 3.6 GHz band while also acquiring spectrum block in the 700 MHz band.
- The coverage of the Group’s high-speed home Internet access service, offered by Plus and Netia based on their own networks as well as while using wholesale access, has increased to nearly 11 million households.
- Polsat-Interia Group was the no. 1 among Internet publishers (last year it achieved the biggest coverage in terms of the number of users five times during the year, i.e. the biggest number of times among Internet publishers) and it was also the leader in the mobile category.
- Polsat Plus Group enriched the offer of its sports channels by acquiring new attractive broadcasting rights. Telewizja Polsat acquired exclusive rights to showing the UEFA Europa League and the UEFA Conference League football matches, played in the new format, on the territory of Poland over the next 3 years. ELEVEN SPORTS TV acquired the rights to showing the matches of the French Ligue 1 McDonald’s in the years 2024 – 2029, all Formula 1 Grand Prix races in the years 2025 – 2028 (exclusive rights) as well as the rights to the German Bundesliga and Bundesliga 2 matches starting from the 2025/26 season through to the end of 2028/29 season (exclusive), while also obtaining a non-exclusive license to the 2024/25 spring round matches.
- The Group put into operation 2 new wind farms, in Czluchow and Przyrow, thus increasing the installed power generated from wind to 150 MW.
- Polsat Plus Group’s own RES (Renewable Energy Sources) generated 1016 GWh of green energy during the year (314 GWh from wind, 86 GWh from solar power and 616 GWh from biomass burning), which meant increase by 53% yoy.
- The Group has built the full hydrogen economy value chain – production of green hydrogen started in Konin, further publicly available NESO hydrogen refueling stations were put into operation while PAK-PCE Polski Autobus Wodorowy (Polish hydrogen bus manufacturing company) delivered 35 NesoBuses to the market and won the tender for delivery of further 55 hydrogen buses to various cities.
- In Q1 2025 the Polsat Plus Group sold 10% of shares of Asseco Poland and used the thus obtained funds to partially prepay the term loan in the amount of PLN 681 mn.
“I am very satisfied with operating results across all our business segments which, when combined with the cost discipline, translated to strong financial performance. We are nearing the accomplishment of the goals of our Strategy 2023+ and completion of the new pillar of our business, namely the green energy and hydrogen business which is already performing very well” says Mirosław Błaszczyk, President of the Management Board of Cyfrowy Polsat and Polkomtel, Polsat Plus Group. “We continue the roll-out of our 5G network, which now extends over a territory of inhabited by 26 million people, we concentrate on the production of attractive content, we have significantly strengthened the offer of our sports TV channels,” adds Mr. Mirosław Błaszczyk.
Financial results of Polsat Plus Group – growth of revenue and EBITDA
2024 was a very good year for Polsat Plus Group in terms of its financial results. The Group’s revenue increased by 4.7% yoy, reaching PLN 14.3 bn, adjusted EBITDA grew by 9.6% to PLN 3.3 bn, while net profit increased by nearly 150%, reaching PLN 777 mn.
“In 2024 we saw strong growth of key financial indicators – the Group’s revenue increased by 4.7% and reached PLN 14.3 bn, while adjusted EBITDA grew by 9.6% and reached PLN 3.3 bn. The newest addition to our operations, i.e. green energy segment, generated as much as PLN 282 mn of EBITDA and in 2025 it is expected to generate as much as ca. PLN 500 mn according to the assumptions of our Strategy 2023+,” says Katarzyna Ostap-Tomann, the Management Board Member responsible for Finance and ESG in Cyfrowy Polsat, the Vice-President of the Management Board for Finance at Polkomtel, Polsat Plus Group. We effectively managed our capital investments and we have CAPEX under control. In the TMT area CAPEX was at a low level of 6%, while majority of the capital projects in the green energy segment have been completed, with the target capital expenditures being by PLN 1.1 bn lower than originally planned,” adds Ms. Ostap-Tomann.
Efficient management of the capital expenditures, strict cost control, maximization of revenue from sale of green energy as well as focus on reducing the Group’s debt, following completion of the strategic investments in the RES segment, remain the priorities for the Group. In Q1 the Group completed partial pre-term repayment of the loan in the amount of PLN 681 bn while using the funds from the sale of a 10% stake in Asseco Poland for this purpose.
B2C and B2B services segment – growth of ARPU from contract customers
Polsat Plus Group provides a total of over 20 million telecommunications and TV services (RGUs) and more than 2.5 million customers use the Group’s multi-play services while obtaining tangible financial benefits from service bundling. Average revenue per B2C contract customer grew by 5.2% yoy in Q4, reaching PLN 77.4, while the churn ratio for B2C clients decreased from 7.6% down to 7% yoy.
“Q4 2024 was very good for us in terms of operating results. The number of mobile services provided by us increased by more than 190 thousand yoy, Internet access services grew by 95 thousand, and the number customers using multi-play services increased by 60 thousand. All in all, our multi-play offers are used by more than 2.5 million people, or 44% of all our customers,” says Maciej Stec, Vice-President of the Management Board responsible for Polsat Plus Group Strategy. “As a result of high sales of services, both to new and existing customers of the Group, the revenue from contract B2C customers increased by 5.2% yoy, while in the case of business clients the growth was 4.6%. We have managed to reduce churn substantially – down to a low level of 7%,” adds Mr. Stec.
Polsat Plus Group had a base of more than 68 thousand B2B clients with the average revenue per unit for this group of clients seeing growth by 4.6% in Q4 2024 to the level of more than PLN 1.5 thousand monthly.
Media segment: TV and online – Polsat-Interia Group as the no. 1 among Internet publishers
Telewizja Polsat Group maintained high audience results, in line with its strategy, and high position on the advertising market. The overall audience share of Telewizja Polsat channels was 22.7% in Q4 2024 (7.5% in the case of Polsat main channel and 15.2% for the theme channels) as well as 22% in the whole year (7.1% in the case of Polsat main channel and 14.9% for the theme channels). The revenue of Telewizja Polsat Group from TV advertising and sponsoring grew by 1.8% and reached PLN 423 mn in Q4, with the figures for the entire 12 months being respectively 4.2% and PLN 1.4 bn, which gave Telewizja Polsat a 28% share in the TV advertising market in both periods.
Polsat Plus Group has been effectively consolidating its position in the online segment. In 2024 it was no. 1 among Internet publishers in Poland. It held the no. 1 spot in this category in terms of the number of users five times during the year, i.e. more frequently than any other Internet publisher. The Group was also the leader in the mobile category – as many as nine times it was the no. 1 in this category. The webpages of Polsat-Interia Group were accessed by 20.8 million users monthly on average during Q4 2024, with the users generating more than 1.8 billion page views.
Green energy segment – dynamic growth of energy production and PLN 282 million of EBITDA
Thanks to the dynamic investments, which are now approaching completion, Polsat Plus Group has become the leading producer of green energy. In Q4 2024 Polsat Plus Group generated 295 GWh of green energy (116 GWh from wind power, 9 GWh from solar power and 169 GWh from biomass burning) – 64% more year-on-year. The total figure for 2024 was 1016 GWh of green energy (314 GWh from the wind, 86 GWh of solar power, 616 GWh from biomass burning) – 53% more year-on-year.
“We are glad that over such a short time we have been able to accomplish the goals of our Strategy 2023+ in the green energy segment. We are the leading producer of green energy, we have developed the complete green hydrogen value chain. What is important, we have achieved our goals with capital expenditures lower by PLN 1.1 bn than originally planned, says Maciej Stec, Vice-President of the Management Board for Strategy, Polsat Plus Group. “Last year we put into operation further wind farms generating 123 MW of power and thanks to this the production of energy from our RES continued to grow dynamically – by 53% yoy, and reached more than 1 TWh. The construction of our biggest wind farm in Drzezewo, offering 139 MW of power, is progressing fast. Still this year the farm will double the amount of the installed power generated from wind. The segment has already now been seeing very good financial performance. Last year it generated PLN 282 mn of EBITDA,” adds Mr. Stec.
Production of green hydrogen was launched in Konin with the use of a 2.5 MW electrolyzer. After Warsaw and Rybnik further publicly accessible NESO hydrogen refueling stations were put into operation in Gdansk, Gdynia, Lublin and Wroclaw. The hydrogen bus factory in Swidnik manufactured NesoBuses for Rybnik (20 units), Gdansk (10 units) and Konin (5 units), with further 55, intended for various cities, being on order or in production as of now.
Effective pursuit of our Strategy 2023+
Polsat Plus Group has been consistently pursuing its long-term multi-play strategy and has been effectively monetizing its investments in green energy. The telecommunications and content segments have been developing organically while generating strong, recurring cash flow streams. In just 5 years the Group will be able to achieve over 1700 GWh of production capacity of clean, green energy by investing PLN 3.9 bn, or PLN 1.1 bn less than originally assumed. This segment of our operations will be generating ca. PLN 500 mn of EBITDA already in 2026 – in line with the goal assumed in our Strategy 2023+. In just 3 years the Group was also able to develop a complete, operational green hydrogen value chain which the Group will be testing, optimizing and scaling depending on market needs.
