By Helgi Library - October 12, 2020
Cyfrowy Polsat's total assets reached PLN 28,356 mil at the end of 1Q2016, up 4.68% compared to the previous year. ...
By Helgi Library - October 12, 2020
Cyfrowy Polsat's total assets reached PLN 28,356 mil at the end of 1Q2016, up 4.68% compared to the previous year. ...
By Helgi Library - April 2, 2020
Cyfrowy Polsat's total assets reached PLN 26,490 mil at the end of 2015, down 3.1% compared to the previous year. ...
Profit Statement | 2013 | 2014 | 2015 | |
Sales | PLN mil | 2,911 | 7,410 | 9,823 |
Gross Profit | PLN mil | 1,728 | 4,968 | 6,616 |
EBITDA | PLN mil | 1,046 | 2,738 | 3,685 |
EBIT | PLN mil | 790 | 1,442 | 1,986 |
Financing Cost | PLN mil | 200 | 1,131 | 656 |
Pre-Tax Profit | PLN mil | 593 | 314 | 1,332 |
Net Profit | PLN mil | 525 | 293 | 1,163 |
Dividends | PLN mil | 0 | 103 | ... |
Balance Sheet | 2013 | 2014 | 2015 | |
Total Assets | PLN mil | 5,676 | 27,339 | 26,490 |
Non-Current Assets | PLN mil | 4,456 | 23,356 | 22,261 |
Current Assets | PLN mil | 1,220 | 3,983 | 4,229 |
Working Capital | PLN mil | 108 | 232 | 415 |
Shareholders' Equity | PLN mil | 3,001 | 9,078 | 10,250 |
Liabilities | PLN mil | 2,675 | 18,261 | 16,240 |
Total Debt | PLN mil | 1,925 | 14,021 | 12,363 |
Net Debt | PLN mil | 1,582 | 12,285 | 10,851 |
Ratios | 2013 | 2014 | 2015 | |
ROE | % | 19.2 | 4.84 | 12.0 |
ROCE | % | 11.6 | 2.08 | 5.03 |
Gross Margin | % | 59.3 | 67.0 | 67.4 |
EBITDA Margin | % | 35.9 | 37.0 | 37.5 |
EBIT Margin | % | 27.1 | 19.5 | 20.2 |
Net Margin | % | 18.1 | 3.95 | 11.8 |
Net Debt/EBITDA | 1.51 | 4.49 | 2.94 | |
Net Debt/Equity | 0.527 | 1.35 | 1.06 | |
Cost of Financing | % | 9.50 | 14.2 | 4.97 |
Valuation | 2013 | 2014 | 2015 | |
Market Capitalisation | USD mil | 2,289 | 3,578 | 3,423 |
Enterprise Value (EV) | USD mil | 2,814 | 7,048 | 6,205 |
Number Of Shares | mil | 348 | 539 | 640 |
Share Price | EUR | 19.8 | 23.5 | 20.9 |
EV/EBITDA | 8.50 | 8.44 | 6.26 | |
EV/Sales | 3.06 | 3.12 | 2.35 | |
Price/Earnings (P/E) | 13.1 | 43.3 | 11.5 | |
Price/Book Value (P/BV) | 2.30 | 1.40 | 1.30 | |
Dividend Yield | % | 0 | 0.812 | ... |
Get all company financials in excel:
summary | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | |||||||||||||
Sales | PLN mil | ... | ... | 1,266 | 1,482 | 2,366 | 2,778 | 2,911 | |||||
Gross Profit | PLN mil | ... | ... | 648 | 782 | 1,119 | 1,426 | 1,728 | |||||
EBIT | PLN mil | ... | ... | 287 | 357 | 560 | 789 | 790 | |||||
Net Profit | PLN mil | ... | ... | 230 | 258 | 160 | 598 | 525 | |||||
ROE | % | ... | ... | 74.8 | 68.9 | 13.8 | 27.4 | 19.2 | |||||
EBIT Margin | % | ... | ... | 22.6 | 24.1 | 23.7 | 28.4 | 27.1 | |||||
Net Margin | % | ... | ... | 18.2 | 17.4 | 6.77 | 21.5 | 18.1 | |||||
Employees | ... | ... | 569 | 864 | 1,267 | 1,454 | 1,443 | ||||||
balance sheet | |||||||||||||
Total Assets | PLN mil | ... | ... | 775 | 1,015 | 5,349 | 5,561 | 5,676 | |||||
Non-Current Assets | PLN mil | ... | ... | 341 | 545 | 4,278 | 4,476 | 4,456 | |||||
Current Assets | PLN mil | ... | ... | 434 | 470 | 1,070 | 1,085 | 1,220 | |||||
Shareholders' Equity | PLN mil | ... | ... | 322 | 428 | 1,896 | 2,468 | 3,001 | |||||
Liabilities | PLN mil | ... | ... | 452 | 587 | 3,453 | 3,093 | 2,675 | |||||
Non-Current Liabilities | PLN mil | ... | ... | 28.8 | 68.8 | 2,484 | 2,026 | 1,700 | |||||
Current Liabilities | PLN mil | ... | ... | 424 | 518 | 968 | 1,067 | 975 | |||||
Net Debt/EBITDA | ... | ... | -0.073 | -0.018 | 2.71 | 1.95 | 1.51 | ||||||
Net Debt/Equity | ... | ... | -0.074 | -0.019 | 1.29 | 0.815 | 0.527 | ||||||
Cost of Financing | % | ... | ... | ... | 5.10 | 7.41 | 13.7 | 3.84 | 9.50 | ||||
cash flow | |||||||||||||
Total Cash From Operations | PLN mil | ... | ... | 179 | 195 | 58.5 | 781 | 803 | |||||
Total Cash From Investing | PLN mil | ... | ... | -61.5 | -77.5 | -2,428 | -133 | -134 | |||||
Total Cash From Financing | PLN mil | ... | ... | -265 | -190 | 2,617 | -653 | -596 | |||||
Net Change In Cash | PLN mil | ... | ... | -147 | -71.7 | 248 | -5.41 | 72.4 | |||||
valuation | |||||||||||||
Market Capitalisation | USD mil | ... | ... | ... | ... | 1,274 | 1,496 | 1,271 | 1,848 | 2,289 | |||
Number Of Shares | mil | ... | ... | 268 | 268 | 324 | 348 | 348 | |||||
Share Price | EUR | ... | ... | ... | ... | 13.6 | 16.5 | 13.5 | 16.4 | 19.8 | |||
Earnings Per Share (EPS) | PLN | ... | ... | 0.858 | 0.963 | 0.494 | 1.72 | 1.51 | |||||
Book Value Per Share | PLN | ... | ... | 1.20 | 1.59 | 5.85 | 7.09 | 8.62 | |||||
Dividend Per Share | PLN | ... | ... | ... | 0.570 | 0 | 0 | 0 | 0 | ... | |||
Price/Earnings (P/E) | ... | ... | ... | ... | 15.8 | 17.1 | 27.3 | 9.55 | 13.1 | ||||
Price/Book Value (P/BV) | ... | ... | ... | ... | 11.3 | 10.3 | 2.31 | 2.32 | 2.30 | ||||
Dividend Yield | % | ... | ... | ... | ... | 4.19 | 0 | 0 | 0 | 0 | ... | ||
Earnings Per Share Growth | % | ... | ... | ... | -14.6 | 12.2 | -48.7 | 248 | -12.2 | ||||
Book Value Per Share Growth | % | ... | ... | ... | 9.91 | 32.7 | 267 | 21.2 | 21.6 |
income statement | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
income statement | |||||||||||||
Sales | PLN mil | ... | ... | 1,266 | 1,482 | 2,366 | 2,778 | 2,911 | |||||
Cost of Goods & Services | PLN mil | ... | ... | 618 | 700 | 1,247 | 1,352 | 1,183 | |||||
Gross Profit | PLN mil | ... | ... | 648 | 782 | 1,119 | 1,426 | 1,728 | |||||
Staff Cost | PLN mil | ... | ... | 72.8 | 88.3 | 149 | 178 | 179 | |||||
Other Cost | PLN mil | ... | ... | 247 | 255 | 65.1 | 216 | 503 | |||||
EBITDA | PLN mil | ... | ... | 329 | 439 | 905 | 1,032 | 1,046 | |||||
Depreciation | PLN mil | ... | ... | 41.9 | 81.2 | 344 | 243 | 256 | |||||
EBIT | PLN mil | ... | ... | 287 | 357 | 560 | 789 | 790 | |||||
Financing Cost | PLN mil | ... | ... | 4.11 | 2.53 | 188 | 96.3 | 200 | |||||
Extraordinary Cost | PLN mil | ... | ... | -1.83 | 33.6 | 180 | -2.77 | -2.90 | |||||
Pre-Tax Profit | PLN mil | ... | ... | 284 | 321 | 192 | 696 | 593 | |||||
Tax | PLN mil | ... | ... | 54.0 | 62.8 | 31.9 | 97.3 | 67.4 | |||||
Minorities | PLN mil | ... | ... | 0 | 0.023 | 0 | 0 | 0 | |||||
Net Profit | PLN mil | ... | ... | 230 | 258 | 160 | 598 | 525 | |||||
Dividends | PLN mil | ... | ... | ... | 153 | 0 | 0 | 0 | 0 | ... | |||
growth rates | |||||||||||||
Total Revenue Growth | % | ... | ... | ... | 15.3 | 17.1 | 59.6 | 17.4 | 4.77 | ||||
Operating Cost Growth | % | ... | ... | ... | 12.5 | 7.61 | -37.8 | 84.3 | 72.9 | ||||
EBITDA Growth | % | ... | ... | ... | -5.43 | 33.5 | 106 | 14.1 | 1.37 | ||||
EBIT Growth | % | ... | ... | ... | -11.5 | 24.7 | 56.8 | 40.8 | 0.089 | ||||
Pre-Tax Profit Growth | % | ... | ... | ... | -14.8 | 13.0 | -40.2 | 262 | -14.8 | ||||
Net Profit Growth | % | ... | ... | ... | -14.6 | 12.2 | -38.0 | 273 | -12.2 | ||||
ratios | |||||||||||||
ROE | % | ... | ... | 74.8 | 68.9 | 13.8 | 27.4 | 19.2 | |||||
ROCE | % | ... | ... | ... | 58.9 | 41.0 | 5.91 | 13.1 | 11.6 | ||||
Gross Margin | % | ... | ... | 51.2 | 52.8 | 47.3 | 51.3 | 59.3 | |||||
EBITDA Margin | % | ... | ... | 26.0 | 29.6 | 38.2 | 37.2 | 35.9 | |||||
EBIT Margin | % | ... | ... | 22.6 | 24.1 | 23.7 | 28.4 | 27.1 | |||||
Net Margin | % | ... | ... | 18.2 | 17.4 | 6.77 | 21.5 | 18.1 | |||||
Payout Ratio | % | ... | ... | ... | 66.4 | 0 | 0 | 0 | 0 | ... | |||
Cost of Financing | % | ... | ... | ... | 5.10 | 7.41 | 13.7 | 3.84 | 9.50 | ||||
Net Debt/EBITDA | ... | ... | -0.073 | -0.018 | 2.71 | 1.95 | 1.51 |
balance sheet | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
balance sheet | |||||||||||||
Non-Current Assets | PLN mil | ... | ... | 341 | 545 | 4,278 | 4,476 | 4,456 | |||||
Property, Plant & Equipment | PLN mil | ... | ... | 269 | 428 | 672 | 696 | 659 | |||||
Intangible Assets | PLN mil | ... | ... | 14.2 | 75.3 | 3,306 | 3,497 | 3,631 | |||||
Goodwill | PLN mil | ... | ... | ... | ... | ... | ... | 52.0 | 2,412 | 2,568 | 2,603 | ||
Current Assets | PLN mil | ... | ... | 434 | 470 | 1,070 | 1,085 | 1,220 | |||||
Inventories | PLN mil | ... | ... | 116 | 179 | 178 | 162 | 147 | |||||
Receivables | PLN mil | ... | ... | 131 | 182 | 271 | 335 | 374 | |||||
Cash & Cash Equivalents | PLN mil | ... | ... | 72.7 | 27.6 | 278 | 270 | 342 | |||||
Total Assets | PLN mil | ... | ... | 775 | 1,015 | 5,349 | 5,561 | 5,676 | |||||
Shareholders' Equity | PLN mil | ... | ... | 322 | 428 | 1,896 | 2,468 | 3,001 | |||||
Of Which Minority Interest | PLN mil | ... | ... | 0 | 0 | 0 | 0 | 0 | |||||
Liabilities | PLN mil | ... | ... | 452 | 587 | 3,453 | 3,093 | 2,675 | |||||
Non-Current Liabilities | PLN mil | ... | ... | 28.8 | 68.8 | 2,484 | 2,026 | 1,700 | |||||
Long-Term Debt | PLN mil | ... | ... | 1.15 | 1.10 | 2,377 | 1,909 | 1,580 | |||||
Deferred Tax Liabilities | PLN mil | ... | ... | ... | 26.1 | 65.3 | 87.1 | 94.3 | 108 | ||||
Current Liabilities | PLN mil | ... | ... | 424 | 518 | 968 | 1,067 | 975 | |||||
Short-Term Debt | PLN mil | ... | ... | 47.6 | 18.5 | 352 | 373 | 345 | |||||
Trade Payables | PLN mil | ... | ... | 86.6 | 147 | 62.7 | 472 | 413 | |||||
Equity And Liabilities | PLN mil | ... | ... | 775 | 1,015 | 5,349 | 5,561 | 5,676 | |||||
growth rates | |||||||||||||
Total Asset Growth | % | ... | ... | ... | 2.34 | 31.0 | 427 | 3.98 | 2.07 | ||||
Shareholders' Equity Growth | % | ... | ... | ... | 9.91 | 32.7 | 343 | 30.2 | 21.6 | ||||
Net Debt Growth | % | ... | ... | ... | -82.2 | -66.6 | -30,789 | -17.9 | -21.3 | ||||
Total Debt Growth | % | ... | ... | ... | -56.6 | -59.7 | 13,804 | -16.4 | -15.7 | ||||
ratios | |||||||||||||
Total Debt | PLN mil | ... | ... | 48.8 | 19.6 | 2,729 | 2,282 | 1,925 | |||||
Net Debt | PLN mil | ... | ... | -23.9 | -7.99 | 2,451 | 2,012 | 1,582 | |||||
Working Capital | PLN mil | ... | ... | 160 | 213 | 387 | 24.6 | 108 | |||||
Capital Employed | PLN mil | ... | ... | 501 | 759 | 4,665 | 4,501 | 4,564 | |||||
Net Debt/Equity | ... | ... | -0.074 | -0.019 | 1.29 | 0.815 | 0.527 | ||||||
Cost of Financing | % | ... | ... | ... | 5.10 | 7.41 | 13.7 | 3.84 | 9.50 |
cash flow | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
cash flow | |||||||||||||
Net Profit | PLN mil | ... | ... | 230 | 258 | 160 | 598 | 525 | |||||
Depreciation | PLN mil | ... | ... | 41.9 | 81.2 | 344 | 243 | 256 | |||||
Non-Cash Items | PLN mil | ... | ... | ... | -12.0 | -91.2 | -273 | -422 | 104 | ||||
Change in Working Capital | PLN mil | ... | ... | ... | -81.1 | -53.0 | -173 | 362 | -83.4 | ||||
Total Cash From Operations | PLN mil | ... | ... | 179 | 195 | 58.5 | 781 | 803 | |||||
Capital Expenditures | PLN mil | ... | ... | -26.5 | -28.7 | -39.2 | -91.2 | -123 | |||||
Other Investments | PLN mil | ... | ... | -35.0 | -48.8 | -2,389 | -42.3 | -11.0 | |||||
Total Cash From Investing | PLN mil | ... | ... | -61.5 | -77.5 | -2,428 | -133 | -134 | |||||
Dividends Paid | PLN mil | ... | ... | ... | -153 | 0 | 0 | 0 | 0 | ... | |||
Issuance Of Debt | PLN mil | ... | ... | ... | -63.6 | -29.1 | 2,709 | -447 | -358 | ||||
Total Cash From Financing | PLN mil | ... | ... | -265 | -190 | 2,617 | -653 | -596 | |||||
Net Change In Cash | PLN mil | ... | ... | -147 | -71.7 | 248 | -5.41 | 72.4 | |||||
ratios | |||||||||||||
Days Sales Outstanding | days | ... | ... | 37.6 | 44.8 | 41.8 | 44.0 | 47.0 | |||||
Days Sales Of Inventory | days | ... | ... | 68.7 | 93.1 | 52.1 | 43.7 | 45.3 | |||||
Days Payable Outstanding | days | ... | ... | 51.1 | 76.6 | 18.3 | 127 | 127 | |||||
Cash Conversion Cycle | days | ... | ... | 55.2 | 61.2 | 75.6 | -39.8 | -35.2 | |||||
Cash Earnings | PLN mil | ... | ... | 272 | 340 | 505 | 841 | 782 | |||||
Cash Earnings Per Share | PLN | ... | ... | 1.01 | 1.27 | 1.56 | 2.42 | 2.24 | |||||
Price/Cash Earnings (P/CE) | ... | ... | ... | ... | 13.4 | 13.0 | 8.68 | 6.79 | 8.82 | ||||
Free Cash Flow | PLN mil | ... | ... | 118 | 118 | -2,370 | 648 | 669 | |||||
Free Cash Flow Yield | % | ... | ... | ... | ... | 2.97 | 2.61 | -62.9 | 10.8 | 9.25 |
other data | Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
other data | |||||||||||||
ROA | % | ... | ... | 30.1 | 28.9 | 5.03 | 11.0 | 9.35 | |||||
Gross Margin | % | ... | ... | 51.2 | 52.8 | 47.3 | 51.3 | 59.3 | |||||
Employees | ... | ... | 569 | 864 | 1,267 | 1,454 | 1,443 | ||||||
Cost Per Employee | USD per month | ... | ... | 3,421 | 2,824 | 3,301 | 3,142 | 3,264 | |||||
Cost Per Employee (Local Currency) | PLN per month | ... | ... | 10,660 | 8,521 | 9,788 | 10,223 | 10,314 | |||||
Staff Cost (As % Of Total Cost) | % | ... | ... | 7.43 | 7.85 | 8.24 | 8.97 | 8.42 | |||||
Effective Tax Rate | % | ... | ... | 19.0 | 19.6 | 16.6 | 14.0 | 11.4 | |||||
Enterprise Value (EV) | USD mil | ... | ... | ... | ... | 1,266 | 1,493 | 1,983 | 2,498 | 2,814 | |||
EV/EBITDA | ... | ... | ... | ... | 12.0 | 10.3 | 6.50 | 7.88 | 8.50 | ||||
EV/Capital Employed | ... | ... | ... | ... | 7.23 | 5.83 | 1.46 | 1.72 | 1.86 | ||||
EV/Sales | ... | ... | ... | ... | 3.11 | 3.04 | 2.49 | 2.93 | 3.06 | ||||
EV/EBIT | ... | ... | ... | ... | 13.8 | 12.6 | 10.5 | 10.3 | 11.3 | ||||
Capital Expenditures (As % of Sales) | % | ... | ... | 2.09 | 1.94 | 1.66 | 3.28 | 4.22 | |||||
Number Of Pay TV Subscribers (Total) | '000 | 3,202 | 3,436 | 3,552 | 3,995 | 4,212 | |||||||
Number Of Pay TV Subscribers (Family Package) | '000 | 2,610 | 2,720 | 2,785 | 2,761 | ... | ... | ... | |||||
Number Of Pay TV Subscribers (Mini Package) | '000 | ... | ... | 593 | 716 | 767 | 805 | ... | ... | ... | |||
ARPU Total (per Month) | PLN | 34.6 | 35.9 | 37.3 | 39.3 | ... | ... | ... | |||||
ARPU per Family Package (per Month) | PLN | 40.3 | 42.1 | 44.2 | 46.6 | ... | ... | ... | |||||
ARPU per Mini Package (per Month) | PLN | ... | ... | 9.20 | 11.1 | 12.7 | 13.4 | ... | ... | ... | |||
CHURN Rate Subscribers | % | 10.7 | 10.3 | 9.80 | 8.43 | 9.16 | |||||||
Sales from Retail | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | 1,732 | 1,830 | ||
Sales from Wholesale | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | 992 | 1,010 | ||
Sales from Sale Of Equipment | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | 18.7 | 41.7 | ||
Sales from Other | PLN mil | ... | ... | ... | ... | ... | ... | ... | ... | 35.7 | 28.8 | ||
Audience Share - Main Channel | % | ... | ... | ... | ... | 17.3 | 16.8 | 17.0 | 14.7 | 12.8 | |||
Audience Share - Thematic Channels | % | ... | ... | ... | ... | 2.88 | 3.47 | 4.08 | 5.36 | 10.2 | |||
Audience share - Total | % | ... | ... | ... | ... | 20.2 | 20.2 | 21.1 | 20.0 | 23.0 | |||
Total Number of RGUs (Contract+Prepaid) | '000 | ... | ... | ... | ... | ... | ... | ... | ... | ... | 16,447 | ||
Number of Contract Customers | '000 | ... | ... | ... | ... | ... | ... | ... | ... | 6,313 | 6,288 | ||
ARPU per Contract Customer | PLN | ... | ... | ... | ... | ... | ... | ... | ... | 93.6 | 88.5 |
Get all company financials in excel:
By Helgi Library - April 2, 2020
Cyfrowy Polsat's total assets reached PLN 26,490 mil at the end of 2015, down 3.1% compared to the previous year. Current assets amounted to PLN 4,229 mil, or 16.0% of total assets while cash stood at PLN 1,512 mil at the end of 2015. ...
Cyfrowy Polsat SA is a Poland-based pay digital television platform operator. It is composed of Cyfrowy Polsat, direct-to-home (DTH) platform, and Telewizja Polsat, commercial television (TV) broadcaster. It operates through one business segment: Retail business, comprising DTH, broadband Internet in High Speed Packet Access (HSPA) and Long Term Evolution (LTE) technologies, as well as mobile telephony services in a mobile virtual network operator (MVNO) model; and Broadcasting and television production, offering TV channels consisting of general entertainment, sports, news, business, lifestyle, movie and children's channels. The Company has a 20.5% audience market share and 23.2% share of the TV advertising market and nearly 3.6 mil subcribers
Cyfrowy Polsat has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 53.1% a year during that time to total of PLN 3,685 mil in 2015, or 37.5% of sales. That’s compared to 37.2% average margin seen in last five years.
The company netted PLN 1,163 mil in 2015 implying ROE of 12.0% and ROCE of 5.03%. Again, the average figures were 15.5% and 7.53%, respectively when looking at the previous 5 years.
Cyfrowy Polsat’s net debt amounted to PLN 10,851 mil at the end of 2015, or 1.06 of equity. When compared to EBITDA, net debt was 2.94x, up when compared to average of 2.72x seen in the last 5 years.
Cyfrowy Polsat stock traded at EUR 20.9 per share at the end of 2015 resulting in a market capitalization of USD 3,423 mil. Over the previous five years, stock price grew by 26.5% or 4.82% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 6.26x and price to earnings (PE) of 11.5x as of 2015.