Cyfrowy Polsat beats profit consensus

WSE-listed media group Cyfrowy Polsat, had PLN 349.9 million attributable net profit in Q4, beating the PLN 226.7 million consensus. The difference comes from the deferred tax asset which boosted the result by PLN 104 million. EBITDA grew by 2.4 percent y/y to PLN 902.3 million. Revenues were down by 2.9 percent y/y to POLN 2.54 billion. For the 2016, Cyfrowy Polsat PLN 1.04 billion consolidated net profit, down from PLN 1.16 billion the year before. EBIDTA stood at PLN 3.64 billion vs. PLN 3.68 billion in 2015.