Q3 2024 was very good for Polsat Plus Group, both in financial and operational terms. Revenues grew by 3.6% YoY, adjusted EBITDA was up by 14.4% YoY, while net profit increased by more than 144% YoY. In Q3 2024 Polsat Plus Group increased the coverage of its 5G network to a territory inhabited by 25 million people, while the coverage of the 5G Ultra network, offering data speeds of up to 1 Gbps,, extends over an area inhabited by 16 million people. Fixed-line Internet access offered by Plus and Netia reaches more than 10 million households and 23 million people. The offer of Polsat Sport/Polsat Sport Premium and Eleven Sports channels has been enriched by adding Bundesliga and Ligue 1 McDonald’s football matches as well as Formula 1 racing, among others. Polsat-Interia Group was the leader in the mobile category. Since the beginning of the year the Group produced 772 GWh of electricity while using the production capacity of its Renewable Energy Sources (RES). Trial production of green hydrogen started in Konin.
Major events:
- Polsat Plus Group’s revenues increased by 3.6% YoY in Q3 and reached ca. 3.6 bn PLN, adjusted[1] EBITDA increased by 14.4%, reaching 886 mn PLN, while the net profit grew by over 144%, to 250 mn PLN. Compared to last year, the number of mobile voice services increased by 165 thousand while the number of Internet access services increased by ca. 80 thousand. The number of customers using multi-play services increased by ca. 50 thousand YoY. Similarly, we saw increase of the ARPU of contract customers – by 5% YoY in the case of B2C customers and by 4% YoY in the case of B2B segment.
- Already as many as 25 million inhabitants of Poland live within the coverage area of Plus’s 5G network. 5G Ultra network reaches more than 16 million of the country’s inhabitants. The successfully completed commercial tests of 5G network, using C frequency band, resulted in maximum technological data rates of more than 2Gbps having been reached.
- Thanks to the new wholesale Internet access contracts, the coverage of Plus’s and Netia’s fixed-line Internet access service increased by nearly 50% and now reaches more than 10 million houses and flats, or nearly 23 million inhabitants of Poland.
- Plus has introduced a new data speed option to its offer of fiber-optic access – up to 2Gbps. Users can bundle this service together with Polsat Box TV and All In Streaming package at attractive prices.
- This year Polsat-Interia Group is the unquestioned leader among Internet publishers in the mobile category. In October it was the leader for the seventh time this year. With the reach of 19.74 mn RU it surpassed RAS Polska Group, Onet.pl (19.64 mn RU) Wirtualna Polska Group (17.95 mn RU). Moreover, Polsat Interia Group generated the highest average monthly reach for the period from January to October (19.07 mn RU).
- ELEVEN SPORTS TV acquired the rights to broadcasting in Poland of the matches of the French Ligue 1 McDonald’s for the years 2024 – 2029, Formula 1 Grand Prix races in the years 2025 – 2028 (exclusive broadcasting rights) as well as of football matches of Bundesliga and 2. Bundesliga from the 2025/26 seasons till the end of 2028/29 season (exclusive rights), along with an unexclusive license for broadcasting the matches in the 2024/25 spring round.Since the beginning of the year, the RSE of Polsat Plus Group generated 722 GWh of green energy (198 GWh from wind power, 77 GWh from solar power, 447 GWh from biomass burning), that is by 49% more YoY
- Since the beginning of the year, the RSE of Polsat Plus Group generated 722 GWh of green energy (198 GWh from wind power, 77 GWh from solar power, 447 GWh from biomass burning), that is by 49% more YoY.
- An electrolyzer with the power of 2.5 MW was launched in Konin plant and trial production of green hydrogen has started.
- Further, after Warsaw and Rybnik, generally-accessible NESO hydrogen refueling stations were launched in Gdansk and Gdynia. The stations can serve buses, cars and vans.
- Polsat Plus Group won further tenders for the delivery of NesoBus hydrogen buses– 5 for Konin and 8 for the Upper Silesia and Zagłębie urban area.
- Polsat Plus Group received a grant in the amount of ca. 64 mn PLN from the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the construction of, among others, 5 generally-accessible hydrogen refueling stations located by the TEN-T network roads.
“In Q3 we have been developing across all segments of our operations. Plus’s 5G network now reaches 25 million people, 5G Ultra network is available to 16 million people while our fixed-line Internet access service is available to nearly 23 million people. We have an attractive offer of TV programs, which includes interesting autumn scheduling offer with a rich proposal of best sports coverage. Formula 1 racing and Bundesliga German football league come back to Eleven Sports. We produce increasing volumes of green energy from renewable sources and we have launched trial production of green hydrogen in Konin,” says Mirosław Błaszczyk, President of the Management Board of Cyfrowy Polsat and Polkomtel, Polsat Plus Group.
Financial results of Polsat Plus Group – growth of revenue and EBITDA
In Q3 the revenues of Polsat Plus Group increased by 3.6% YoY and reached ca. 3.6 bn PLN, adjusted EBITDA increased by 14.4%, to 886 mn PLN, while the net profit increased by over 144%, reaching 250 mn PLN.
“It has been a very good quarter in financial terms – the Group’s revenues and adjusted EBITDA increased by 3.6% and 14.4% year-on-year, respectively. The Group’s performance is supported in increasing degree by the green energy segment – in Q3 alone the segment generated 82 mn PLN of EBITDA,” says Katarzyna Ostap-Tomann, a Management Board Member of Cyfrowy Polsat responsible for finance and the Vice-President responsible for finance at Polkomtel, Polsat Plus Group. “Very good operational results, including growing ARPU of contract B2C and B2B customers, have translated to growth of the retail revenue by 3.6%. Net debt to EBITDA ratio is under control, at 3.4x.”
Segment of B2C and B2B services – growth of ARPU generated by contract customers
Polsat Plus Group provides a total of over 20 million telecommunication and TV (DTH) services, while 2.5 million of our customers use our multi-play offer and achieve tangible financial benefits by bundling the Group’s services. The average revenue per B2C contract customer increased in Q3 2024 by 5% YoY and reached 77.2 PLN, while the churn ratio in the B2C base decreased from 7.5% to 7.2%.
“In Q3 2024 the number of multi-play customers increased by nearly 50 thousand year-on-year. 2.5 million people, or 43% of all our customers, use multi-play services,” says Maciej Stec, the Vice-President of the Management Board responsible of Polsat Plus Group’s strategy. “As a result of very good sales of the telephony and Internet access services, the average revenue per unit (ARPU) generated by B2C contract customers increased by 5% YoY. ARPU of our business clients increased by 4% while ARPU generated by prepaid customers remained at a high, stable level. All the same time we can boast low churn ratio of 7.2%” adds MaciejStec.
Polsat Plus Group has over 68 thousand B2B customers. Thanks to the successively expanded offer of advanced ICT services, including cloud solutions, data center and cybersecurity services, the average revenue per B2C customer increased by 4% in Q3 2024 and reached more than 1.5 thousand PLN per month.
Media segment: TV and online –Polsat-Interia Group is the leader in the mobile category
Polsat TV Group has maintained high and stable audience results and advertising market position which is aligned with its strategy. The total audience share held by Polsat TV channels was 21.7% in Q3 2024 (6.7% for the main Polsat channel and 15% for theme channels) and respectively 21.8% over the period of 9 months (7% by the main Polsat channel and 14.8% by the theme channels). Revenue of the Polsat TV Group from TV advertising and sponsoring increased by 3%, to 297 mn PLN in Q3 2024 and by 5.2%, to 965 mn PLN, over the period of 9 months, thus assuring for Polsat TV advertising market shares of 27.6% and 28% respectively. The autumn program schedule enjoys high interest, which will be reflected positively in the fourth quarter’s results.
Polsat Plus Group has been gaining stronger foothold in the online segment. Polsat-Interia Group’s Internet services were visited by 19.4 million users monthly on the average, with the users generating 1.8 billion page views. This year Polsat-Interia Group continues as the leader in the mobile category – it was no. 1 during 7 out of 10 months of the year, including in October. Moreover, in October it ranked no. 2 in the overall ranking of horizontal portals, only slightly behind the no.1 player.
Green energy segment – dynamic growth of energy production
In Q3 2024 Polsat Plus Group generated 301 GWh of green energy (81 GWh from wind power, 32 GWh from solar power and 188 GWh from biomass burning), i.e. by 57% more year-on-year. The overall green energy production during the 9 months of the year was 722 GWh (198 GWh generated from wind, 77 GWh from solar power, 447 GWh from biomass burning) - by 49% more year-on-year.
“In Q3 2024 we generated over 300 GWh of green energy – by 57% more than last year. The factors which contributed to such dynamic growth include launch for further wind power farms in Człuchów and Przyrów, providing total power of 123 MW. In Q3 alone the green energy segment generated 82 mn PLN of EBITDA and 200 mn PLN during the 9 months of the year,” says Maciej Stec, the Vice-President of the Management Board responsible of Polsat Plus Group’s strategy. “We are systematically launching more production capacity in the RES area. Construction of our biggest wind farm in Drzeżewo, offering 139 MW of power, proceeds as scheduled. In Konin we have launched trial production of green hydrogen and hence we already have the full hydrogen economy value chain in place,” adds Maciej Stec.
After Warsaw and Rybnik, further NESO hydrogen refueling stations were opened in Gdansk and Gdynia. And soon stations in Wroclaw and Lublin will be opened. Another 5 stations will be constructed along the TEN-T trans-European network roads. The hydrogen bus factory in Świdnik manufactured NesoBuses for Rybnik (20) and Gdansk (10) while an order from Chełm (26 buses), Konin (5 buses) and the Upper Silesia and Zagłębie urban area (8 buses) is in the process of fulfilment.
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