Play Q2 profit beats consensus

WSE-listed telecom operator Play Communications recorded a consolidated net profit of PLN 159.7 million in Q2, above the PLN 171.8 million consensus and way up by 412 percent y/y (30.6 percent q/q growth).

Operating profit was up to PLN 365.7 million representing a 199.8 percent y/y increase. Adjusted EBITDA decreased by 8.2 percent y/y to PLN 550.1 million. Revenues grew by 3.6 percent to PLN 1.68 billion.

At end-H1, Play had 12.46 million active clients (up by 81k customers compared to end-Q1) with 8.84 million contract clients (102.5k more than in the previous quarter), while pre-paid customers dropped by 22k to 3.63 million.

ARPU increased by 1.9 percent q/q to PLN 32.4.

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