Slides
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10 April 2025 Financial results Q4’24/ FY2024
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2 MIROSŁAW BŁASZCZYK PRESIDENT OF THE MANAGEMENT BOARD MACIEJ STEC VICE-PRESIDENT FOR STRATEGY KATARZYNA OSTAP-TOMANN CFO, MEMBER OF THE MANAGEMENT BOARD FOR ESG Speakers
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Agenda 1. Key events in 2024 2. Operating results 3. Financial results 4. Summary of 2024 and objectives for 2025
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Key events in 2024 Mirosław Błaszczyk President of the Management Board, Cyfrowy Polsat
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Connectivity ● Consistent implementation of our strategy is reflected in growing ARPU per B2C customer by +4.8% and per B2B customer by +3.4% and falling churn to only 7% ● We are steadily expanding the 5G Plus network – already 26 million people, that is 70% of Poland's population, are within range of our network ● We renewed the frequency reservation in the 2.6 GHz TDD band and acquired a reservation in the 3.6 GHz band ● We acquired a block in the 700 MHz band in an auction for PLN 363 m ● We increased the reach of our fixed internet access service to nearly 11 million households based on our own network and wholesale access
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Media ● Very good viewership results of our TV channels with a 22% market share ● Polsat-Interia Group was the leader among internet publishers in Poland in 2024 ● We have strengthened our programming offer in the key segment of sports rights with broadcasting rights of exceptional sports events: − Formula 1 Grand Prix − UEFA Europa League and UEFA Conference League − German Bundesliga and 2. Bundesliga − French Ligue 1 McDonald’s − Polish national team matches in handball for both women and men
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Green energy and hydrogen ● We have launched 2 wind farms in Człuchów and Przyrów, boosting our installed capacity in wind power to 150 MW ● We are dynamically building the Drzeżewo wind farm with a capacity of 139 MW – 32 turbines have already been installed ● We have launched new H2 refueling stations – NESO now operates in Warsaw, Rybnik, Gdańsk, Gdynia, Lublin, and Wrocław ● We have launched a 2.5 MW PEM electrolyser in Konin and started the production of green hydrogen ● We secured contracts for the delivery of 55 hydrogen- powered NesoBus buses to Polish cities
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● We have achieved very good financial results in 2024: − Revenue growth of 4.7% to PLN 14.3 bn − Adjusted EBITDA growth of 9.6% to PLN 3.3 bn ● We effectively manage cash flows within our broad portfolio of strategic investments ● In Q1’25, we sold a 10% stake in Asseco Poland and used the proceeds for partial early repayment of our loan in the amount of PLN 681 m Finance
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Operating results
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Media segment: TV and online Maciej Stec Vice-President for Strategy, Cyfrowy Polsat
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Warner Bros.Discovery 22.0% 23.8% 18.9% 26.8% 8.5% 22.7% 21.8% 16.1% 27.8% 11.6% TV Polsat Group TVP Group Other CabSat Other DTT Q4'23 Q4'24 15.2% 14.1% 6.8% POLSAT TVP 11 1) 1) 7.5% 7.7% 4.7% 4.6% Polsat TVN TVP1 TVP2 1,468 1,509 Q4'23 Q4'24 415 423 Q4'23 Q4'24 +2.8% +1.8% 28.3% 28.0% (mPLN)(mPLN) Viewership and position in the advertising market in Q4’24 Audience shares Dynamics of audience share results Market expenditures on TV advertising and sponsorship Revenue from TV advertising and sponsorship of TV Polsat Group2) Source: NAM, All 16‐59, all day, SHR%, including Live+2 as well as TV audience out of home (OOH – out of home viewing), internal analyses; ad market: Publicis Groupe, spot advertising and sponsorship; TV Polsat Group: internal data Note: (1) Excluding partnership channels (2) Revenue from TV advertising and sponsorship of TV Polsat Group’s channels Warner Bros.Discovery Group Thematic channelsMain channels Group share
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Warner Bros.Discovery 22.0% 23.5% 19.9% 26.3% 8.3% 22.0% 23.0% 17.3% 27.9% 9.8% TV Polsat Group TVP Group Other CabSat Other DTT 2023 2024 14.9% 15.4% 7.2% POLSAT TVP 12 1) 1) 7.1% 7.6% 5.2% 4.8% Polsat TVN TVP1 TVP2 4,684 4,960 2023 2024 1,332 1,388 2023 2024 +5.9% +4.2% 28.4% 28.0% (mPLN)(mPLN) Viewership and position in the advertising market in 2024 Audience shares Dynamics of audience share results Market expenditures on TV advertising and sponsorship Revenue from TV advertising and sponsorship of TV Polsat Group2) Source: NAM, All 16‐59, all day, SHR%, including Live+2 as well as TV audience out of home (OOH – out of home viewing), internal analyses; ad market: Publicis Groupe, spot advertising and sponsorship; TV Polsat Group: internal data Note: (1) Excluding partnership channels (2) Revenue from TV advertising and sponsorship of TV Polsat Group’s channels Warner Bros.Discovery Group Thematic channelsMain channels Group share
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13 1,982 3,598 2,753 936 762 1,813 3,078 2,479 710 642 Polsat-Interia Group Wirtualna Polska Group RAS Polska Group Agora Group Polska Press Group Q4'23 Q4'24 20.8 21.1 21.2 18.9 17.0 20.8 20.3 20.7 16.6 15.4 Polsat-Interia Group Wirtualna Polska Group RAS Polska Group Agora Group Polska Press Group Q4'23 Q4'24 We are effectively building our position in the online market Average monthly number of users Average monthly number of page views (millions of RU) Source: Mediapanel, number of users – real users (RU) indicator, number of page views indicator Note: (1) Mediapanel, based on average monthly results, achieved the highest reach (RU), five times in 2024, the most among internet publishers in Poland (2) Mediapanel, based on average monthly results, in 2024, Polsat-Interia Group in first position in 9 out of 12 months, including December 2024 ● Polsat-Interia Group #1 on the internet market in 2024 among publishers in Poland1) ● In 2024, Polsat-Interia Group remains the leader in the mobile category2) ● We have a very strong position in the online market: − 20.8 m users − 1.8 bn page views (millons of page views)
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We focus on producing attractive content and strengthening the offer of our sports channel 14 Attractive original content translates into very good viewership results of our channels Super strong sports offer for the coming years
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B2C and B2B services segment Maciej Stec Vice-President for Strategy, Cyfrowy Polsat
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16 7.6% 7.2% 7.0% Q4'23 Q3'24 Q4'24 Churn +2.4% Over 2.5 million customers use our multiplay offering ● High and stable base of multiplay customers despite challenging market conditions ● Increase in the multiplay customer base by 60k YoY due to the successful upselling of products and services ● Already 44% of our customers use our multiplay offering ● Our multiplay customers use 7.7m RGUs, +261k YoY ● Low churn – mainly due to our multiplay strategy Number of multiplay customers (thous. customers) 2,456 2,494 2,516 42% 43% 44% 25% 30% 35% 40% 45% 50% 55% 60% 65% 0 500 1000 1500 2000 2500 3000 Q4'23 Q3'24 Q4'24 # of multiplay customers saturation of customer base with multiplay (%)
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17 13.21m13.08m 13.13m +1.0% We provide over 13m contract services ● Very good sales of mobile telephony services, +191k YoY ● Increase in mobile and fixed internet services provided by 95k YoY ● Pressure on the pay TV service base partially mitigated by the growing number of TV services provided in IPTV and OTT technologies Number of RGUs in the B2C contract segment 6.2m 6.4m 6.4m 4.8m 4.7m 4.7m 2.0m 2.1m 2.1m Q4'23 Q3'24 Q4'24 Mobile telephony Pay TV Internet 6.2m 6.4m 6.4m 4.8m 4.7m 4.7m 2.0m 2.1m 2.1m
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18 73.6 77.2 77.4 2.26 2.28 2.30 2 2 2 2 2 2 2 3 3 10 20 30 40 50 60 70 Q4'23 Q3'24 Q4'24 ARPU per B2C customer RGU/customer +5.2% (PLN) ARPU growth in B2C thanks to the consistent implementation of our multiplay strategy and popularization of 5G tariffs ● 5.2% YoY rise in ARPU is driven by strong sales of mobile voice and internet services to both new and existing customers ● Effective upselling of products as part of our multiplay strategy continues to be reflected in the high level of RGU saturation per customer ratio
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19 Q4'23 Q3'24 Q4'24 Mobile telephony Internet Pay TV 2.65m 2.47m2.57m ARPU1) (PLN) 17.4 17.8 17.3 Q4'23 Q3'24 Q4'24 -0.6% Prepaid RGU1 Note: (1) excl. low-margin Polsat Box Go Start package High base and stable ARPU of prepaid services ● We maintain a high base of prepaid services at the level of 2.5 million despite strong market competition ● High, stable ARPU at the level of PLN 17.3
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1,463 1,514 1,530 Q4'23 Q3'24 Q4'24 20 68.8k 68.3k 68.2k Q4'23 Q3'24 Q4'24 +4.6% ARPU High base and growing ARPU of B2B customers Number of B2B customers ● We provide services to 68 thousand B2B customers, successfully maintaining the scale of this base ● ARPU per B2B customer increased by 4.6% YoY, reaching PLN 1,530 monthly in a highly competitive environment (PLN)
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Green energy segment Maciej Stec Vice-President for Strategy, Cyfrowy Polsat
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22 biomass solar wind on-shore Completed 105 MW Completed 82 MW Completed 297 MW (incl. 139 MW by the end of 2025) Within just 5 years, we will reach over 1,700 GWh of clean, green energy production capacity by investing PLN 3.9 bn (PLN 1.1 bn less than we initially assumed) Goal #1: Achieved We are a leading producer of clean, green energy
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green energy production of green hydrogen storage and transportation distribution of green hydrogen end-user products Solar energy Wind energy Biomass energy Completed 2.5 MW electrolyser with a capacity of 1t of H2 daily 0.5 MW electrolyser prototype in progress Completed 10 hydrogen trailers in use Completed 6 public refuelling stations in operation Completed 90 buses sold and contracted Completed 150 H2 cars in Polsat Plus Group’s car fleet 23 Within just 3 years, we have built a complete, operational value chain based on green hydrogen, which we will test, optimize, and scale according to market needs Goal #2: Achieved We have built a complete green hydrogen value chain
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28 72 565 665 314 86 616 1 016 Wiatr Fotowoltaika Biomasa razem +53% 21 8 150 179 116 9 169 295 Wiatr Fotowoltaika Biomasa RAZEM Renewable energy production +64% wind farms PV biomass TOTAL Q4’24 2024 [GWh][GWh] Q4’24Q4’23Q4’24Q4’23Q4’24Q4’23 20242023 20242023 20242023 Q4’23 2023 24 Dynamic growth of energy production by c.64% due to expanding capacity for wind energy generation ● Green energy production increased by 64% YoY to 295 GWh in Q4’24 following the commissioning of 123 MW at the Człuchów and Przyrów wind farms ● Green energy production increased by 53% YoY in 2024 to over 1 TWh ● The construction of the largest wind farm in Drzeżewo with 139MW of capacity is progressing according to schedule, with 32 turbines already assembled
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Already PLN 282m of EBITDA of the green energy segment in 2024 -1 79 Q4'23 Q4'24 EBITDA 25 282 2023 2024 25 ● Higher EBITDA in Q4’24 is due to the expansion of capacity to 338 MW (from 215 MW at the end of 2023), favourable biomass supply conditions, and a stable regulatory environment ● Increase in EBITDA of the segment in 2024 is the result of its consolidation since July 2023 ● In 2025, we will double capacity installed in wind power, which will further support EBITDA (mPLN)(mPLN)
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EBITDA Energy production capacity Capex Strategy 2023+ PLN 500-600m annually from 2026 2 TWh annually PLN 5 bn in the period 2022-2026 Implementation 2024 PLN 282m in 2024 1 TWh in 2024 PLN 3.2 bn in the period 2022-2024 Outlook 2026 c. PLN 500m in 2026 1.7 TWh annually ~PLN 3.9 bn in the period 2022-2026 48% 85% PLN -1.1 bn -22% lower capex In line with strategy We maintain our goal of PLN 500m EBITDA in 2026 with significantly lower expenditures by PLN 1.1bn
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Financial results Katarzyna Ostap-Tomann CFO, Member of the Management Board for ESG, Cyfrowy Polsat
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677 740 -0.4 -41 Q4'23 Q4'24 3.012 220 3.300 138 2023 2024 13,626 14,266 2023 2024 3,682 3,827 Q4'23 Q4'24 312 777 2023 2024 28 +4.0% (mPLN) 130 168 Q4'23 Q4'24 Net profit (mPLN) Revenue +4.7% (mPLN) (mPLN) (mPLN) (mPLN) +15.3% 781 +9.3% Impairment on inventories of photovoltaic modules EBITDA +6.4% 3,438 +9.6% Profit from the sale of Asseco shares 3,231 Profit from the sale of Muzo, disposal of IPv4 address package, impairment on inventories of photovoltaic modules +149.5% +28.7% 677 Adjustment of profit from the sale of Asseco shares Financial results of the Group
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29 3.51x 3.59x 2023 2024 Net debt/EBITDA LTM (excl. project financing) Note: (1) FCF adjusted for capex in the green energy segment 334 1,303 2023 2024 LTM FCF1) +290% FCF and net debt/EBITDA in 2024
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677 677 781 740 +0.4 -9 -43 +81 +73 +2 -41 EBITDA 4Q'23 EBITDA skorygowana 3Q'23 B2C and B2B services segment Media segment: TV and online Green energy segment Real estate segment Consolidation adjustments EBITDA adjusted 4Q'24 EBITDA EBITDA 30 3,682 3,827 +17 -6 +8 +87 +39 Przychody 4Q'23 B2C and B2B services segment Media segment: TV and online Green energy segment Real estate segment Consolidation adjustments Przychody 4Q'24 Revenue +4.0% | +146m Revenue Q4’23 Revenue Q4’24 (mPLN) +15.3% | +104m 18% 20% EBITDA margin (mPLN) 18% 19% EBITDA Q4’23 EBITDA skorygowana 3Q’24 EBITDA adjusted Q4’24 EBITDA Q4’24 EBITDA adjusted Q4’23 Adjustment of profit from the sale of Asseco shares Revenue and EBITDA – change drivers in Q4’24 Impairment of inventories of PV modules
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31 13,626 14,266 -136 +22 +677 +76 +1 Przychody 2023 B2C and B2B services segment Media segment: TV and online Green energy segment Real estate segment Consolidation adjustments Przychody 2024 Revenue 3,231 3,012 3,300 3,438 -220 -61 +14 +258 +72 +5 +128 +10 EBITDA 2023 B2C and B2B services segment Media segment: TV and online Green energy segment Real estate segment Consolidation adjustments EBITDA adjusted 2024 EBITDA 9M'24 EBITDA 22% +4.7% | +640m EBITDA 2023 EBITDA 2024 24% (mPLN) (mPLN) +9.6% | +288m 24% 23% EBITDA adjusted 2023 EBITDA margin Revenue 2023 Revenue 2024 Profit from the sale of Asseco shares Profit from the sale of Muzo EBITDA adjusted 2024 Profit on disposal of assets and impairments1) Note: (1) EBITDA adjusted by the gain on the sale of IPv4 address package (PLN 199m) and by impairments on inventories of photovoltaic modules (PLN 71m) Revenue and EBITDA – change drivers in 2024
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-2 174 -1 422 -169 550 209 -212 378 926 0 32 EBITDA adjusted1) 2024 Change in NWC, tax & other Cash used in investing activities Interests, leasing & net hedging FCF LTM after interest Telco frequency reservations Adjusted FCF LTM after interest Green Energy capex Acquisitions2) Adjusted FCF after interest excl. Green Energy capex 2024 (mPLN) Inlcl. 361 NWC change Note: (1) EBITDA adjusted by a gain on disposal of a subsidiary and an associate (PLN 10m), a gain on the sale of intangible assets (IPv4 address package, PLN 199m) and by impairment charges on photovoltaic modules’ inventories (PLN 71m) (2) One-off acquisition of shares in subsidiaries, net of cash acquired Proceeds from disposal of IPv4 addresses and Muzo 1 303 3 300 127 FCF in 2024 impacted by higher EBITDA with continued pressure from high interest costs
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185 409 4 202 394 14 TMT Green energy Real estate 867 711 25 834 926 25 TMT Green energy Real estate 33 (mPLN) 1 6% (mPLN) 1 Q4’23 Q4’24 Q4’23 Q4’24 Q4’23 Q4’24 2023 2024 20232) 2024 2023 2024 6% Capex by segment in Q4’24 Capex "under control": capex/revenue in TMT only 6%, high investments in profitable green energy segment ● In the TMT1) area, capex/revenue ratio remains at 6% ● Development capex in the green energy segment at PLN 926m in 2024 ● Investments in renewable energy sources require high front-loaded capital expenditures, while maintenance capex is low in the long-term Development capex Development capex Development capex Development capex x% Note: (1) Includes the B2C and B2B services segment and the media segment (2) Consolidation of the green energy segment from 3 July 2023 capex/revenue for the segment Capex by segment in 2024
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34 PLN 83% EUR 17% mPLN Balance value as at 31 December 2024 Loans and borrowings, including: 10,458 loans and borrowings liabilities excl. project financing1) 9,037 project financing liabilities 1,421 Bonds 4,038 Leasing and other liabilities 685 Gross debt 15,180 Cash and cash equivalents2) 2,653 Net debt 12,527 EBITDA LTM3) 3,286 Total net debt / EBITDA LTM 3.81x Net debt to EBITDA LTM ratio excl. project financing4) 3.59x Weighted average interest cost of loans and bonds5) 8.3% Bonds 30% 621 778 830 4,716 EUR 506m 3,490 400 2025 2026 2027 2028 2029 2030 TLA (PLN) TLB (EUR) Series D and Series E Bonds Series F Bonds The Group’s debt Debt structure (excl. project financing) as at 31.12.2024 Debt maturing profile (excl. project financing) as at 31.12.2024 Note: (1) Project financing means investment loans granted to PAK -PCE subsidiaries (project companies) for investment projects related to the development of clean energy sources (2) Includes cash and cash equivalents held for sale (3) Consolidated EBITDA LTM adjusted for non-controlling interests (4) EBITDA LTM and net debt of companies using project financing are excluded from the calculation of the ratio (5) Prospective average weighted interest cost of the Group's debt (including the Revolving Credit Facility) in accordance with WIBOR/EURIBOR ratios as of the balance sheet date, excluding hedging instruments, project financing and leases (mPLN) Bank loans 70%
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Summary of 2024 and objectives for 2025 Mirosław Błaszczyk President of the Management Board, Cyfrowy Polsat
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Summary of 2024 B2C and B2B services segment ● Consistent implementation of the multiplay strategy focused on building customer value and loyalty – growing ARPU in key customer groups and churn decreasing to 7% ● 26 million residents of Poland – that is 70% – within the range of Plus 5G network ● 11 million households within the range of our fixed internet service Media segment: TV and online ● High and stable viewership results – 22% market share, and a strong position in the advertising market, in line with our strategy ● Interia with a leading position in the online market ● Strengthening the sports offering with exclusive sports rights Green energy and hydrogen ● We maintain our goal of c. PLN 500m EBITDA in 2026 with expenditures lower by PLN 1.1bn ● Expansion of installed capacity in wind power to 150 MW ● Implementation of a complete value chain based on green hydrogen, including the launch of green hydrogen production at our own electrolysis plant in Konin Finance ● Very good financial results of the Group ● Effective management of our investments within Strategy 2023+
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o Building ARPU and maintaining a low churn rate based on the multiplay strategy: content, mobile and fibre internet, telephone o Expansion of Plus 5G network based on the 3.6 GHz and 700 MHz bands o Maintaining a very good position in the TV advertising market and high viewership of our channels o Consistent building of our position in the internet market o Completion and launch of the Drzeżewo wind farm, which will double our capacity in wind power to nearly 300 MW o Maximizing revenue from green energy sales o Continuation of effective investment management and cost control o Focus on reducing the Group's debt after completing the largest strategic renewable energy investments 37 Goals for 2025 Telecom and mediaEnergyFinance
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We consistently implement our long-term multiplay strategy and monetize our investments in green energy 38 Business growth driven organically, generating strong recurring cash flows Investments will translate into c. PLN 500 million of incremental recurring EBITDA in 2026 Connectivity EnergyContent Maintaining strict cost discipline and maximizing cash flows to build value for our shareholders in the long term
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Q&A 39
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Additional information
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41 ● Increase in retail revenue partly offset by lower wholesale revenue from the final regulatory reduction of MTR rates and lower revenue from equipment sales ● Operating costs under control despite ongoing pressure on costs related to salaries, distribution and marketing, as well as network maintenance and development ● In Q4'24, EBITDA adjusted by an impairment on inventories on photovoltaic modules (PLN 41m) mPLN Q4’24 YoY change Revenue 2,710 1% Operating costs1) 2,183 2% EBITDA adjusted2) 527 -2% EBITDA adjusted margin2) 19.4% -0.5 pp Capex 183 5% Note: (1) Costs excl. depreciation, amortization, impairment and liquidation (2) EBITDA adjusted by a gain/loss on disposal of a subsidiary and an associate (PLN -0.4m) and by impairment charges on photovoltaic modules’ inventories (PLN 41m) Results of the B2C and B2B services segment
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42 ● Higher advertising revenue offset by a decrease in revenue from cable and satellite operators and from the sale of licenses and sublicenses ● Increase in operating costs due to higher costs of own production, including higher write-offs on the value of programming assets. mPLN Q4’24 YoY change Revenue 698 -1% Operating costs1) 587 7% EBITDA 97 -31% EBITDA margin 13.8% -6.1 pp Capex 20 73% Results of the media segment: television and online Note: (1) Costs excl. depreciation, amortization, impairment and liquidation
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mPLN Q4’24 YoY change Revenue, incl.: 403 2% Revenue from sale of generated electricity2) 157 26% Revenue from resale of electricity2) 176 -4% Operating costs1) 324 -18% EBITDA 79 PLN 81 m EBITDA margin 19.6% 20.0 pp Capex 394 -4% 43 Results of the green energy segment Note: (1) Costs excl. depreciation, amortization (incl. depreciation costs included in energy and buses production costs), impairment and liquidation (2) Before consolidation adjustments ● The increase in revenue from the sale of generated electricity, resulting from the successive expansion of installed capacity in wind farms, was partially offset by lower revenue from bus sales ● Operating costs influenced by the lower cost of energy sold, resulting, among other, from favourable conditions of biomass supply
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44 ● Increase in revenue and EBITDA as a result of the completion of the residential project in Port Praski at 1-3 Sierakowska St. and transfer of ownership of apartments to customers mPLN Q4’24 YoY change Revenue 145 149% Operating costs1) 84 42% EBITDA 78 >100% EBITDA margin 53.8% 44.7 pp Capex 14 300% Note: (1) Costs excl. depreciation, amortization, impairment and liquidation Results of the real estate segment
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45 ● Higher retail revenue mainly due to the effective up-selling of products and services to our customer base and an increase in ARPU per B2C contract customer and B2B customer; ● Lower wholesale revenue mainly due to the recognition of lower interconnection revenue, resulting from the final regulatory reduction of MTR rates, and lower revenue from cable and satellite operators; ● Lower sale of equipment following lower volumes of equipment sold; ● Higher energy revenue mainly as a result of higher volumes of energy produced following the expansion of installed capacity in wind farms; ● Increase in other revenue mainly due to recognition of revenue from the sale of apartments following the transfer of ownership of part of the apartments to customers in the investment on Sierakowskiego St. in Port Praski. This increase was partially offset by lower revenue from the sale of buses, associated with the execution of a large delivery of green hydrogen- powered buses to the city of Rybnik in the comparative period. 1,810 899 479 340 300 1,764 929 507 286 196 Retail revenue Wholesale revenue Sale of equipment Energy revenue Other revenue Q4'24 Q4'23 3% 3% 6% 53% 19% mPLN Revenue structure
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46 ● Lower depreciation, amortization, impairment and liquidation costs, primarily as a result of the completion of the amortization of Polkomtel‘s retail customer relationships; ● Increase in content costs mainly due to higher costs of internal production, including higher write-offs on the value of programming assets; ● Higher distribution, marketing, customer relation management and retention costs due to the recognition of higher logistic and distribution costs and higher customer care costs, which were associated, among others, with an increase in the minimum wage; ● Higher salaries and employee-related costs, due to inflationary pressure on wages; ● Increase in other costs, primarily as a net result of the recognition of higher cost of the sale of apartments in the residential investment in Port Praski, higher costs of advisory services and lower costs of hydrogen- powered buses sold due to the lower number of units delivered during the analysed period. 872 373 590 405 291 263 353 21 271 862 494 566 415 277 268 336 26 242 Technical costs and cost of settlements with telecommunication operators Depreciation, amortization, impairment and liquidation Content costs Cost of equipment sold Distribution, marketing, customer relation management and retention… Cost of energy sold Salaries and employee-related costs Cost of debt collection services and bad debt allowance Other costs Q4'24 Q4'23 4% 18% 3% 5% 12% 25% 5% 1% 2%(incl depreciation) mPLN Operating costs structure and receivables written off
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• Production capacity: 83 GWh • Launched (2021 Brudzew, Cambria 2023) • Production capacity: 60 GWh • Launched (Q3’23) • Production capacity: 230 GWh • Launched (Q1’24) • Production capacity: 410 GWh • Planned launch: Q4’25 • Production capacity: 38 GWh • Launched (Q3’23) • Production capacity: 24 GWh • Planned launch: 2026 Drzeżewo 138.6 MW Człuchów 72.6 MW Brudzew/Cambria 82.4 MWp Kazimierz Biskupi 17.5 MW Miłosław 9.6 MW Dobra 7.8 MW • Production capacity: 105 GWh • Launched (Q2’24) Przyrów 50.4 MW • Production capacity: ca. 700 GWh • Launched (2012/2022) Biomass 105 MW 47 Investments in renewable energy sources
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• Świdnik: operational • Production capacity: 1000 kg H2 daily • Konin • Gdańsk: operational • Wrocław: operational NESO H2 refuelling station NESO H2 refuelling station Nesobus manufacturing plant NESO H2 refuelling station 48 2.5 MW PEM Electrolysis plant NESO H2 refuelling station • Exion Hydrogen Polskie Elektrolizery • Prototype of a 0.5 MW alkaline electrolyser Electrolyser development Mobile H2 refuelling stations • 5 mobile stations in use • 9 trailers with 1024 kg capacity • 1 trailer with 371 kg capacity H2 trailers • Gdynia: operational • Warszawa: operational NESO H2 refuelling station • Rybnik: operational We have built a complete value chain for green hydrogen • Lublin: operational
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49 Glossary RGU (Revenue Generating Unit) Single, active and retail revenue generating service of pay TV provided in all types of access technologies, mobile or fixed-line Internet access, or mobile telephony provided in the contract or prepaid model. Customer A natural person, legal entity or an organizational unit without legal personality who has at least one active service provided in the contract model. A customer is identified by a unique national identification number (PESEL), tax identification number (NIP) or national business registry number (REGON). ARPU per B2C/B2B customer Average monthly revenue per customer generated in a given settlement period. ARPU per prepaid RGU Average monthly revenue per prepaid RGU generated in a given settlement period. Churn Termination of the contract with a B2C customer by means of a termination notice, collections or other activities resulting in the situation that after the termination of the contract the customer does not have any active services provided in the contract model. Churn rate presents the relation of the number of customers for whom the last service has been deactivated (by means of a termination notice as well as deactivation as a result of collection activities or other reasons) within the last 12 months to the annual average number of customers in this 12-month period. Usage definition (90-day for prepaid RGU) Number of reported RGUs of prepaid services of mobile telephony and Internet access refers to the number of SIM cards which received or answered calls, sent or received SMS/MMS or used data transmission services within the last 90 days.
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50 Disclaimer This presentation may include forward-looking statements, understood as all statements (other than statements of historical facts) regarding our financial results, business strategy, plans and objectives pertaining to our future operations (including development plans related to our products and services). Such forward-looking statements do not constitute a guarantee of future performance and involve risks and uncertainties which may affect the fulfilment of these expectations, as by their nature they are subject to many factors, risks and uncertainties. The actual results may be materially different from those expressed or implied by such forward-looking statements. Even if our financial results, business strategy, plans and objectives pertaining to our future operations are consistent with the forward-looking statements included herein, this does not necessarily mean that these statements will be true for subsequent periods. These forward-looking statements express our position only as at the date of this presentation. We expressly disclaim any obligation or undertaking to publish any updates or revisions to any forward-looking statements contained herein in order to reflect any change in our expectations, change of circumstances on which any such statement is based or any event that occurred after the date of this presentation. Certain financial data contained in this document have been subject to rounding adjustments. Accordingly, certain numbers presented as the sum may not conform exactly to the arithmetical sum of their components or comparative references. For more detailed financial information, please refer to our financial statements available on our website https://grupapolsatplus.pl/en/arc/results
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https://grupapolsatplus.pl Investor Relations Cyfrowy Polsat S.A. Konstruktorska 4 02-673 Warsaw Email: ir@cyfrowypolsat.pl