Locked content Play operator with PLN 1.58 bln revenue. IPO decision within months

P4, Play network mobile operator, had PLN 1.58 billion revenue, up by 9.6 percent y/y, and PLN 564 million EBITDA in Q1, a 20.8 percent y/y increase. At the end of March, Play had 14.3 million customers, down by 0.5 percent y/y, with 60.5 percent of them being regular subscribers, and the rest pre-p...

Locked content Euler Hermes: 67 bankruptcies in April

In April, 67 Polish companies were declared bankrupt, compared to 66 last year, according to a report issued by Euler Hermes. Since the beginning of the year, 291 companies were declared bankrupt, a 22 percent growth y/y. According to Euler Hermes most bankruptcies are caused by low profitability of...

Locked content Opole music festival canceled after artists protests

The Opole music festival, one of the Poland’s entertainment staples, has been canceled by the city after numerous artists backed out of the event. Musicians protested when public broadcaster TVP withdrew its invitations to few artists that were deemed “too controversial.” President of Opole, f...

Locked content Musician and composer Zbigniew Wodecki dies

Zbigniew Wodecki, a Polish musician and composer, most famous for singing the Polish theme to the animated series Maya the Bee passed away at the age of 67. Wodecki was one of Poland’s best-known singers, musicians, composers and trumpet players. He called himself a “singing musician.” He started pl...

Locked content World Bank to buy €137 million worth of BZ WBK’s green bonds

IFC, a member of the World Bank Group, will invest €137 million in subordinated green bonds issued by Bank Zachodni WBK to help it to finance climate-related projects, IFC said in a statement. This is the first green bond issue by a Polish commercial bank. Poland’s government issued green bonds, as ...

Locked content PKO BP Q1 profit down

WSE-listed PKO BP posted a PLN 525 million attributable net profit in Q1, down by 17.8 percent y/y PKO’s total assets increased by 1 percent q/q to PLN 288.5 billion, loans remained flat at PLN 200.6 billion. Deposits were up by 1 percent to PLN 207.1 billion. Net interest income increased to PLN 2....

Locked content LNG terminal in Świnoujście beats 3 mln CM threshold

The LNG terminal in Świnoujście accepted 15 deliveries totaling 3 million cubic meters of LNG. Ships usually carry 200k cubic meters of LNG each, which after gasification process turns into 120 million cubic meters of gas. “One such delivery could fulfill the country’s needs for three days,” t...

Locked content BGK with PLN 1.2 bln bonds issue

State bank BGK issued 1.2 million bonds worth PLN 1k each, the bank said in a market filing. The papers will mature in three years, till then BGK will pay interest to bondholders every six months. By end-March, BGK liabilities amount to PLN 80.6 billion, the bank said.  …

Locked content Housing permits on the rise – GUS

At end-April 2017, the number of housing permits has increased by 36.8 percent to 83,440, according to data released by the Central Statistics Office (GUS), moreover, the number of dwellings completed declined by 0.4 percent y/y to 50,935. The number of dwellings in which construction has begun also...

Locked content Demand for coal won’t change till 2030 – Tchórzewski

The demand for coal in Poland will remain at the same levels till 2030, energy minister Krzysztof Tchórzewski said. “The production level we currently have may stay the same, if only coal mines manage, but to 2030 demand for coal in Poland won’t decline if we are to cover demand for electrical...