Poland's Cyfrowy Polsat shares jump on costs and revenue beat

Cyfrowy Polsat SA

21/11/2024 08:35

** Polish media company Cyfrowy Polsat SA  CPS.WA  shares
rise 5.7%, boosted by better-than-expected Q3 results
    ** The company's Q3 retail revenue rises 4% y/y to 1.82
billion zlotys ($441.1 million), while costs decrease by 6% to
2.99 billion zlotys
    ** "The positive surprise (...) is due to
higher-than-estimated savings on the content line (...)", says
Trigon analyst Dominik Niszcz, adding retail revenues were 8
million zlotys above the brokerage's estimates
    ** Niszcz also points to the trend reversal in the company's
key retail revenue line, whose y/y growth accelerates
    ** "Overall, the results were better than expected on all
major lines" says Erste Group analyst Nora Nagy, deeming Cyfrowy
Polsat's guidance for stable FY EBITDA as too conservative
    ** Shares, which are on track for their best day in 3 months
if gains hold, top Poland's blue-chip  .WIG20  index
    


($1 = 4.1262 zlotys)

 (Reporting by Rafal W. Nowak)
 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))