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Written by Mad Onion
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Cyfrowy Polsat SA, the largest pay digital satellite platform in Poland, today announced financial results for the second quarter of 2008 presented financial data are presented in accordance with International Financial Reporting Standards ("IFRS").
Highlights second quarter 2008 (compared to second quarter 2007): The number of subscribers increased by almost 726 thousand. (Ie 47%) to 2.29 million, average revenue per subscriber Family Package rose by 5% to 39.3 zł, consolidated revenue increased by 60% to 277 mln zł, EBITDA rose by 75% to 104 mln zł. EBITDA margin increased to 37.5% from 34.5% in the corresponding period of 2007 EBITDA margin excluding DTH subscriber acquisition costs amounted to 55% compared to 52% in the corresponding period of 2007, net profit rose by nearly 68% zł 80 million, and net profit margin reached 29%, compared to 28% in the second quarter of 2007 - It was another quarter in which significantly improved our operating and financial results - says Dominik Libicki, President of Cyfrowy Polsat. - We have confirmed our leading position in the market to give 74% of all connections of satellite television subscribers in the first six months of 2008. Nearly 50-percent increase in subscriber base, the 60-percent increase in revenue, EBITDA margin of 37.5% and net profit increased by 68% the result clearly indicates the dynamic development of our platform. Achieved operating and financial results once again confirmed the validity of our chosen strategy, which allows us to increase the regular .- adds.
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