Cyfrowy Polsat with PLN 167 mln Q4 net profit

WSE-listed media group Cyfrowy Polsat net profit amounted to PLN 167.1 million in Q4 down by 52.2 percent y/y. The result was affected by the PLN 144 million one-offs from an increase in income tax liabilities following a change in corporate income tax regulations. Revenues amounted to PLN 2.57 billion, up by 1.7 percent y/y, while EBITDA stood at PLN 872.7 million, down by 3.3 percent y/y. The number of contract services increased year-on-year at end-Q4 by 3.2 percent to 13.68 million. In 2017, Cyfrowy Polsat had PLN 980 million net profit, down from PLN 1.04 billion in 2016, while revenues grew to PLN 9.82 billion from PLN 9.72 billion.