Polsat Plus Group is Poland’s largest media and telecommunications group and the leader in the Polish entertainment and telecommunications markets. We are the leading pay TV provider and one of the leading telecommunications operators in the country. We are also Poland’s largest content producer and hold a leading position among TV broadcasters in terms of both viewership and advertising market shares. We offer a complete package of multimedia services designed for the entire family and a wide array of wholesale services to other telecommunications and television operators, and broadcasters. In 2023, we have expanded our business activities into the production and distribution of clean energy.
Our operating activities include four business segments: the B2C and B2B services segment, the media segment: television and online, the real estate segment and the green energy segment.
Within the B2C and B2B services segment, we offer:
pay TV services offered under the ‘Polsat Box’ brand by Cyfrowy Polsat – the largest pay TV provider in Poland – and our subsidiary Netia. We offer our customers access to over 160 TV channels broadcast in satellite, terrestrial and Internet (IPTV, OTT) technologies as well as modern OTT services, Multiroom and online video services through our streaming service ‘Polsat Box Go’;
telecommunication voice services as well as various added services (VAS). We provide mobile voice services mainly under the ‘Plus’ brand through Polkomtel – one of Poland’s leading telecommunications operators - and fixed-line telephony services under the ‘Netia’ brand. We also offer business customers a range of advanced solutions, including cloud solutions, designed to streamline processes and increase efficiency;
mobile broadband Internet, offered under the ‘Plus’ brand in the state-of-the-art 5G, LTE Advanced and LTE technologies. Over 26 million residents of Poland are within the coverage of our Plus 5G network;
fixed-line broadband Internet with a footprint of nearly 11 million homes passed, offered under the ‘Netia’ and ‘Plus’ brands, based on our nationwide access infrastructure as well as wholesale access to networks of other operators;
wholesale services to other operators, including, among others, network interconnection, IP and voice traffic transit, lease of lines, and national and international roaming services.
Within the media segment: television and online, we offer:
broadcasting and television production through Telewizja Polsat Group, the leading commercial TV broadcaster on the Polish market, offering 47 own popular TV channels, including our main channel POLSAT, one of the leading FTA channels in Poland;
Internet media through the leading horizontal portal, Interia.pl, as well as an extensive portfolio of thematic portals.
In the green energy segment, activities focus on production and sale of energy from renewable sources such as wind, solar and biomass. Installed renewable energy generation capacity amounted to 485 MW as at the end of 2025, corresponding to an electricity production potential of up to approximately 1.7 TWh per year. The value chain based on green hydrogen includes its production, storage, transportation, distribution and sales, as well as the construction of hydrogen refuelling stations, production and sales of hydrogen-powered buses.
Activities in the real estate segment consist of the implementation of construction projects as well as the sale, rental and management of real estate. The Group’s flagship project is the Port Praski investment located in the strict centre of Warsaw.
Key data
| (million PLN) | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Selected financial data | |||||
| Revenue | 12,444.0 | 12,915.3 | 13,626.3 | 14,265.9 | 14,323.6 |
| EBITDA | 7,699.63 | 3,471.2 | 3,231.2 | 3,437.6 | 3,016.5 |
| EBITDA Margin | 61.9%3 | 26.9% | 23.7% | 24.1% | 21.1% |
| Profit from operating activities | 5,796.43 | 1,642.2 | 1,311.6 | 1,766.2 | -1,416.64 |
| Net profit | 4,414.5 | 901.1 | 311.6 | 777.3 | -2,602.64 |
| Capital expenditures1 | 1,158.8 | 1,114.4 | 1,601.9 | 1,784.2 | 1,613.1 |
| Average number of employees2 | 7,498 | 7,648 | 8,020 | 8,219 | 8,269 |
| Stock data | |||||
| Market capitalization e/y (million PLN) | 22,205.0 | 11,262.4 | 7,885.6 | 9,043.2 | 7,802.5 |
| Basic earnings per share (PLN) | 6.95 | 1.62 | 0.57 | 1.41 | -4.73 |
| Year-end price (PLN) | 34.72 | 17.61 | 12.33 | 14.14 | 12.20 |
[1] Capital expenditures represent payments for our investments in property, plant and equipment and intangible assets. It does not include expenditure on purchase of reception equipment leased to our customers, which are reflected in the cash flow from operating activities, or payments for telecommunication concessions.
[2] The average employment of permanent workers not engaged in production in Cyfrowy Polsat Group, excluding workers who did not perform work in the reporting period due to long-term absences.
[3] Including one-off gain on disposal of Polkomtel Infrastruktura in the amount of PLN 3,680.6 million.
[4] Mainly as a result of the recognition of one-off, of one-off, non-cash impairment losses of goodwill resulting from the annual impairment tests of assets conducted in accordance with IAS 36. These impairments included an impairment of goodwill in the B2C and B2B services segment in the amount of PLN 2,000.0m and in the media segment in the amount of PLN 716.9m. The above impairment losses do not affect operating results, EBITDA, or cash flows.
KPI
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| B2C AND B2B SERVICES SEGMENT | |||||
| Contract services for B2C customers | |||||
| Total number of B2C RGUs (EOP) [thous.], incl. | 13,465 | 13,285 | 13,083 | 13,209 | 13,522 |
| Pay TV | 5,264 | 5,049 | 4,843 | 4,683 | 4,546 |
| Mobile telephony | 6,195 | 6,238 | 6,246 | 6,437 | 6,617 |
| Internet | 2,006 | 1,998 | 1,994 | 2,089 | 2,358 |
| Number of B2C customers (EOP) [thous.] | 6,047 | 5,934 | 5,795 | 5,737 | 5,634 |
| ARPU per B2C customer [PLN] | 68.2 | 70.8 | 72.6 | 76.1 | 79.5 |
| Churn in B2C subsegment | 6.9% | 7.0% | 7.6% | 7.0% | 7.7% |
| RGU saturation per one B2C customer | 2.23 | 2.24 | 2.26 | 2.30 | 2.40 |
| Prepaid services | |||||
| Total number of RGUs (EOP) [thous.], incl.: | 2,666 | 2,691 | 2,646 | 2,468 | 2,276 |
| Pay TV | 90 | 82 | 98 | 86 | 126 |
| Mobile telecommunications services | 2,576 | 2,609 | 2,548 | 2,382 | 2,150 |
| ARPU per prepaid RGU [PLN] | 16.2 | 17.5 | 17.6 | 17.6 | 17.8 |
| Contract services for B2B customers | |||||
| Total number of B2B customers (EOP) [thous.] | 68.9 | 69.1 | 68.8 | 68.2 | 67.4 |
| ARPU per B2B customer [PLN] | 1,390 | 1,406 | 1,454 | 1,504 | 1,542 |
| MEDIA SEGMENT: TELEVISION AND ONLINE | |||||
| TV channels | |||||
| Audience share1 | 24.6% | 22.5% | 22.0% | 22.0% | 22.5% |
| Advertising market share2 | 28.0% | 28.6% | 28.4% | 28.0% | 28.0% |
| Online – internet portals3 | |||||
| Average number of users [millions] | 20.2 | 20.9 | 20.9 | 20.4 | 20.7 |
| Average number of page views [millions] | 1.931 | 2.045 | 1,941 | 1,838 | 1,915 |
| GREEN ENERGY SEGMENT | |||||
| Total electricity generation [GWh], of which: | - | - | 665.0 | 1,016.4 | 1,153.8 |
| Biomass | - | - | 565.0 | 616.3 | 547.3 |
| Photovoltaics | - | - | 72.3 | 86.4 | 73.9 |
| Wind farms onshore | - | - | 27.7 | 313.7 | 532.6 |
[1] NAM, All 16‐59 (2020 All 16‐49), all day, SHR%; excluding partnership channels, include both live broadcasting and broadcasting during 2 consecutive days (i.e. Time Shifted Viewing); starting from September 2021 incl. the TV audience out of home (OOH – out of home viewing); internal analysis
[2] Our estimates based on Starcom/Publicis Group data
[3] Data from Gemius/PBI and Mediapanel surveys. Data for the periods after the acquisition of Interia Group for Polsat-Interia Group; number of users – real users (RU) indicator