Multimedia Polska makes steady progress

March 5, 2014 09.44 Europe/London By Chris Dziadul

Multimedia PolskaThe Polish cable operator Multimedia Polska saw a fall in its TV revenues in H1 2013 due to the country’s upcoming ASO in July. However, by the fourth quarter they were again growing.

Results published by the company show that its total revenues in 2013 amounted to PLN699.2 million (€166.3 million), or 2% more than a year earlier.

TV revenues, at PLN346.8 million, were 3.1% up year-on-year, with falls in analogue more than offset by an increase in digital TV revenues.

EBITDA in 2013 amounted to PLN355.5 million, or 1.2% more than a year earlier, while net income stood at PLN70.7 million, up PLN21.7 million on 2012.

Multimedia Polska notes that in 2013 it introduced a different way of counting TV Revenue Generating Units (RGUs).

Whereas previously digital TV subscribers who also received analogue TV services were each treated as two RGUs, now they are referred to as a single RGU.

Multimedia Polska ended 2013 with 751,000 TV RGUs, of whom 318,000 opted for digital, 318,000 analogue and 83,000 premium TV services.

Churn was unchanged on the 2012 figure of a monthly average of 0.86%.

Multimedia Polska invested PLN189.9 million in 2013, of which PLN175 million went towards upgrading and modernising its network, increasing capacity and introducing new services.

It added 30,000 homes to its network.

Furthermore, it allocated PLN3.7 million to a change in investment liabilities and temporary differences in levels of fixed assets.

The remaining funds, totally PLN11.2 million, were earmarked for acquisitions.