UPC sale delay hits Multimedia
March 12, 2018 04.52 Europe/London By Chris Dziadul
The uncertainty surrounding its proposed sale to UPC is starting to impact on the Polish cable operator Multimedia Polska.
Results published by the company show that its full-year revenues in 2017 were, as PLN678.389 million (€161.505 million), 3% down on the previous year. Adjusted EBITDA was PLN334.876 million (-2%) and its loss from continued operations PLN12.352 million (-162%), principally due to the high level of income tax.
With discontinued operations included, Multimedia still had a total loss of PLN1.8 million.
Although Multimedia saw growth in its revenues from video services in 2018 (+5%), those from internet (-13%) and telephony services (-15%) were significantly lower.
Video RGUs at the end of 2017 stood at 948,000, up from 868,000 a year earlier, while both data and voice RGUs declined.
The RGU total as a whole increased, though the total number of customers fell in 2017, from 783,000 to 758,000.
In his comments on the results, Multimedia’s president Andrzej Rogowski conceded that the company’s proposed takeover by Liberty Global’s UPC Polska impacted on its performance in 2017.
The sale, which was first announced in October 2016, is being examined by the completion authority UOKiK, with a final decision expected by the end of this month.
Multimedia has already sold off its insurance and utility businesses as they were not of interest to UPC.