New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (79% net debt to equity). Share price has been volatile over the past 3 months (8.4% average weekly change). Duyuru • May 27
Cyfrowy Polsat S.A., Annual General Meeting, Jun 22, 2026 Cyfrowy Polsat S.A., Annual General Meeting, Jun 22, 2026, at 11:00 Central European Standard Time. Reported Earnings • May 22
First quarter 2026 earnings released: EPS: zł0.24 (vs zł0.15 in 1Q 2025) First quarter 2026 results: EPS: zł0.24 (up from zł0.15 in 1Q 2025). Revenue: zł3.64b (up 3.0% from 1Q 2025). Net income: zł127.9m (up 55% from 1Q 2025). Profit margin: 3.5% (up from 2.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Duyuru • Jan 23
Cyfrowy Polsat S.A. to Report Fiscal Year 2025 Results on Apr 16, 2026 Cyfrowy Polsat S.A. announced that they will report fiscal year 2025 results at 8:30 AM, Central European Standard Time on Apr 16, 2026 Duyuru • Mar 25
Cyfrowy Polsat S.A.(WSE:CPS) dropped from WIG 20 Index Cyfrowy Polsat S.A. has been dropped from the WIG 20 Index . Duyuru • Feb 01
Cyfrowy Polsat S.A. to Report Fiscal Year 2024 Results on Apr 10, 2025 Cyfrowy Polsat S.A. announced that they will report fiscal year 2024 results at 11:30 AM, Central European Standard Time on Apr 10, 2025 Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: zł0.32 (vs zł0.013 loss in 2Q 2023) Second quarter 2024 results: EPS: zł0.32 (up from zł0.013 loss in 2Q 2023). Revenue: zł3.45b (up 5.0% from 2Q 2023). Net income: zł146.4m (up zł153.7m from 2Q 2023). Profit margin: 4.2% (up from net loss in 2Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • May 23
First quarter 2024 earnings released: EPS: zł0.33 (vs zł0.12 in 1Q 2023) First quarter 2024 results: EPS: zł0.33 (up from zł0.12 in 1Q 2023). Revenue: zł3.41b (up 6.4% from 1Q 2023). Net income: zł180.1m (up 179% from 1Q 2023). Profit margin: 5.3% (up from 2.0% in 1Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.55, the stock trades at a forward P/E ratio of 395x. Average forward P/E is 11x in the Media industry in Germany. Total loss to shareholders of 54% over the past three years. New Risk • Apr 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Apr 12
Full year 2023 earnings released: EPS: zł0.57 (vs zł1.61 in FY 2022) Full year 2023 results: EPS: zł0.57 (down from zł1.61 in FY 2022). Revenue: zł13.6b (up 5.5% from FY 2022). Net income: zł278.5m (down 69% from FY 2022). Profit margin: 2.0% (down from 7.0% in FY 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Duyuru • Feb 01
Cyfrowy Polsat S.A. to Report Fiscal Year 2023 Results on Apr 11, 2024 Cyfrowy Polsat S.A. announced that they will report fiscal year 2023 results on Apr 11, 2024 Reported Earnings • Nov 09
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł3.46b (up 5.6% from 3Q 2022). Net income: zł120.8m (down 49% from 3Q 2022). Profit margin: 3.5% (down from 7.2% in 3Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. New Risk • Oct 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Duyuru • Jul 01
Cyfrowy Polsat S.A. Announces Management Appointments Cyfrowy Polsat have appointed two new vice-chairmen of the supervisory board of the company. Tobias Solorz and Piort Zak have been appointed to those positions. Duyuru • Jun 30
Cyfrowy Polsat to Pay No Dividend from 2022 Cyfrowy Polsat shareholders decided to retain the entire net profit from 2022 in line with the management recommendation. Previously the management said it decided not to recommend the dividend payout from the 2022 profit due to "the capital-intensive strategic investments carried out by the Company as part of its Strategy 2023+. Reported Earnings • Apr 20
Full year 2022 earnings released Full year 2022 results: Revenue: zł12.9b (up 3.8% from FY 2021). Net income: zł900.0m (down 80% from FY 2021). Profit margin: 7.0% (down from 35% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Duyuru • Jan 28
Cyfrowy Polsat S.A. to Report Fiscal Year 2022 Results on Mar 30, 2023 Cyfrowy Polsat S.A. announced that they will report fiscal year 2022 results at 11:30 AM, Central European Standard Time on Mar 30, 2023 Duyuru • Dec 27
Cyfrowy Polsat Announces Board Changes Cyfrowy Polsat appointed Agata Wiktorow-Sobczuk its new director of investors relations. Wiktorow-Sobczuk will replace Grzegorz Para, who is leaving the company. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł3.27b (up 7.9% from 3Q 2021). Net income: zł236.7m (down 93% from 3Q 2021). Profit margin: 7.2% (down from 104% in 3Q 2021). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Duyuru • Sep 29
Embud 2 sp. z o.o. S.K.A. entered into contract to acquire unknown minority stakes in MODIVO S.A. from Cyfrowy Polsat S.A. (WSE:CPS) for PLN 600 million. Embud 2 sp. z o.o. S.K.A. entered into contract to acquire unknown minority stakes in MODIVO S.A. from Cyfrowy Polsat S.A. (WSE:CPS) for PLN 600 million on September 27, 2022. Embud 2 sp. z o.o. S.K.A will acquire 1 million shares at a price of PLN 600 per share. Duyuru • Sep 19
Cyfrowy Polsat S.A.(WSE:CPS) dropped from FTSE All-World Index (USD) Cyfrowy Polsat S.A.(WSE:CPS) dropped from FTSE All-World Index (USD) Upcoming Dividend • Sep 12
Upcoming dividend of zł1.20 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 18% but the company is paying out more than the cash it is generating. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.5%). Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł3.23b (up 2.2% from 2Q 2021). Net income: zł288.9m (down 46% from 2Q 2021). Profit margin: 8.9% (down from 17% in 2Q 2021). Over the next year, revenue is forecast to grow 1.3%, compared to a 6.4% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Jun 24
Cyfrowy Polsat Announces Dividend, Payable on December 15, 2022 Cyfrowy Polsat will pay out a dividend of PLN 1.2 per share, or a total of PLN 660.8 million, above the management proposal for PLN 1.0 DPS, shareholders decided during the Thursday GM. Dividend rights will be set September 20 and the payment will follow on December 15. Cyfrowy Polsat last paid PLN 1.2 in dividend per share from 2020 profits and retained earnings. Reported Earnings • May 13
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł2.99b (flat on 1Q 2021). Net income: zł214.9m (down 45% from 1Q 2021). Profit margin: 7.2% (down from 13% in 1Q 2021). Over the next year, revenue is forecast to grow 1.9%, compared to a 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2021 earnings released Third quarter 2021 results: Revenue: zł3.03b (flat on 3Q 2020). Net income: zł3.14b (up zł2.80b from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 07
Upcoming dividend of zł1.20 per share Eligible shareholders must have bought the stock before 14 September 2021. Payment date: 10 December 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł3.16b (up 10% from 2Q 2020). Net income: zł539.3m (up 87% from 2Q 2020). Profit margin: 17% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Duyuru • May 29
Cyfrowy Polsat Announces Dividend Cyfrowy Polsat S.A. announced dividend rights to be established September 15, while the payment would be split into two traches: PLN 0.4 per share would be paid September 28 and PLN 0.8 per share would be paid December 10. Reported Earnings • May 15
First quarter 2021 earnings released: EPS zł0.61 (vs zł0.28 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł2.99b (up 4.9% from 1Q 2020). Net income: zł389.6m (up 114% from 1Q 2020). Profit margin: 13% (up from 6.4% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Duyuru • Apr 29
Cyfrowy Polsat S.A. (WSE:CPS) made an offer to acquire an additional 20.9% stake in Netia S.A. (WSE:NET) for approximately PLN 400 million. Cyfrowy Polsat S.A. (WSE:CPS) made an offer to acquire an additional 20.9% stake in Netia S.A. (WSE:NET) for approximately PLN 400 million on April 28, 2021. As per the offer, Cyfrowy Polsat S.A. will acquire 70 million shares at PLN 5.77 per share. Trigon acted as broker in the transaction. Reported Earnings • Mar 26
Full year 2020 earnings released The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: zł12.0b (up 2.5% from FY 2019). Net income: zł1.14b (up 3.7% from FY 2019). Profit margin: 9.5% (in line with FY 2019). Duyuru • Mar 14
CCC to Sell 20% Interest in eobuwie CCC S.A. (WSE:CCC) has entered into exclusive talks on the sale of a minority stake in eobuwie.pl S.A., valuing the online shoe shop at PLN 5 billion ($1.30 billion), it said late on March 11, 2021. Cyfrowy Polsat S.A. (WSE:CPS) and A&R Investments Ltd, a shareholder of parcel lockers company InPost, are interested in taking a 10% stake each in the platform for PLN 500 million in pre-initial public offering (IPO) deals, CCC said. CCC, hit by ailing brick-and-mortar sales due to the pandemic, started to look for a minority investor for eobuwie in 2020 as it turned to online sales. Cyfrowy Polsat said it sees a possible financial investment in eobuwie, which also offers it exposure to the e-commerce sector. Is New 90 Day High Low • Jan 09
New 90-day high: €6.54 The company is up 11% from its price of €5.87 on 09 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.47 per share. Duyuru • Dec 25
Cyfrowy Polsat S.A. (WSE:CPS) made an offer to acquire remaining 34.02% in Netia S.A. (WSE:NET) for approximately PLN 550 million. Cyfrowy Polsat S.A. (WSE:CPS) made an offer to acquire remaining 34.02% in Netia S.A. (WSE:NET) for approximately PLN 550 million on December 23, 2020. Under the terms of the transaction Cyfrowy Polsat S.A. will acquire 114.2 million shares for PLN 4.8 per share. The tender offer period will commence on January 15, 2021 and end of February 26, 2021. Prior to the the transaction Cyfrowy Polsat holds 221.4 million shares representing 65.98% and post acquisition will own 100% stake in Netia S.A. On 23 December 2020, the Supervisory Board of the Company adopted a resolution consenting to the announcement of the Tender Offer. Is New 90 Day High Low • Dec 08
New 90-day high: €6.39 The company is up 14% from its price of €5.62 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.00 per share. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 1.9% while the growth in Media industry in Germany is expected to stay flat. Is New 90 Day High Low • Oct 16
New 90-day low: €5.38 The company is down 12% from its price of €6.12 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.50 per share. Duyuru • Sep 02
Cyfrowy Polsat S.A. to Report Q3, 2020 Results on Oct 11, 2020 Cyfrowy Polsat S.A. announced that they will report Q3, 2020 results on Oct 11, 2020