Cyfrowy Polsat Q1 net profit slumps on absence of one-off, Asseco stake sale loss (updated)

Asseco Poland SA

21/05/2025 17:44

Recasts first paragraph and headline with the effect of the Asseco deal on company results, adds additional information from paragraph 3

GDANSK, May 21 (Reuters) - Polish telecom and media firm Cyfrowy Polsat CPS.WA reported on Wednesday a 53% slump in its first-quarter net profit, due to the absence of last year's one-off gains and a non-cash loss recorded on the sale of its stake in software firm Asseco Poland ACPP.WA.

Net profit was 82.6 million zlotys ($22 million), slightly below analysts' expectations of 84 million zlotys, according to a Reuters poll.

Core profit adjusted for gains or losses from the sale of shares and assets rose by 4.8% year-on-year to 809.3 million zlotys, slightly above the 804 million zloty expected by analysts.

The increase was primarily driven by higher retail revenues and an improved core profit in the company's green energy segment.

Revenue from energy sales rose by 9.8% year-on-year in the quarter, reaching 309.4 million zlotys, mainly due to higher production volumes from wind farm expansions.

Cyfrowy Polsat entered the green energy sector in 2023 and plans to invest about 5 billion zlotys by 2026 to expand its clean energy production from photovoltaics, biomass, onshore wind farms, and thermal waste treatment.

($1 = 3.7375 zlotys)

 (Reporting by Rafal W. Nowak and Marta Maciag; Editing by Emelia Sithole-Matarise and Lisa Shumaker)

 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))