Locked content Cyfrowy Polsat Q1 results above expectations

WSE-listed media group Cyfrowy Polsat, had PLN 279.4 million attributable net profit in Q2, crushing the PLN 181.6 million consensus, and up by 59.2 percent y/y. EBITDA grew by 9.8 percent y/y to PLN 929.5 million. Revenues were up to PLN 2.38 billion. Net profit increased mainly due foreign exchang...

Locked content LOT gets first Boeing next gen 737 plane

Polish state-owned airline LOT received its first of the four ordered Boeing 737-800 Next Generation planes. The model, capable of carrying up to 186 passengers, is the largest narrow-body aircraft to date, and will begin his operations this month. The rest of the planes will arrive by end-June, and...

Locked content European Commission to seek further dialog with Polish gov’t

“It is not yet time to take further action against Poland in a dispute with the European Commission over the rule of law in the eastern European state,” Commission First Vice President Frans Timmermans. “We have a number of instruments in our toolbox. I believe there is still room for political dial...

Economic climate improves in Q2 – IRG SGH

The economic climate index calculated by the Research Institute for Economic Development of the Warsaw School of Economics (IRG SGH) increased by 6.8 points quarter-to-quarter and amounts to -0.3 points in Q2 2017. In year-to-year terms the index has gone up by 3.6 points.

Average wages on the rise in Q1 – GUS

According to data released by the Polish Central Statistical Office (GUS), the average salary in Q1 grew by 4.1 percent year-on-year to PLN 4,353.55 gross. In Q1 2016, the average salary was PLN 4,181.49, GUS data showed.

Locked content PGE agrees to buy EDF’s Polish assets

WSE-listed, state-owned power group PGE signed a conditional agreement to buy EDF’s Polish power and heating assets. Under the deal, PGE will acquire all shares of EDF’s Polish subsidiary, and PGE will have the option “to call PGE to sign the share sale agreement for the above-mentioned ...

Locked content Poland to launch power capacity market in 2018

The ministry of energy is working on a bill to introduce power capacity auctions by 2018. “Our schedule is to enact a bill on the capacity market to end-year for it to go into effect in 2018 and to launch certification processes to make it possible to conduct the first capacity auctions in 2018 and&...

Locked content Polish investment funds assets grow to PLN 275.7 bln in April

Net assets under management (AuM) of Polish investment funds inched up by 0.9 percent (PLN 2.5 billion) to PLN 275.7 billion in April, a report by researcher Analizy Online and asset management lobby IZFiA showed. In the same period, net inflows stood at PLN 0.6 billion. Since January 1, 2017, the A...

Locked content Pekao net profit beats expectations

WSE-listed Pekao, posted PLN 349.7 million attributable net profit in Q1 2017, down 29 percent q/q but still above the consensus expectations for PLN 327.1 million. Revenue from interests inched up by 0.2 percent q/q to PLN 1.11 billion, while earnings from fees and commissions, dropped by 6.4 perce...

EBRD upholds GDP forecasts for Poland

The European Bank for Reconstruction and Development (EBRD) has maintained its forecast of 3.2 percent Polish GDP growth for 2017 and 2018. “While the tightening labor market will likely continue putting pressure on wages, thus providing a further boost to consumption, the positive impact of the chi...