Cyfrowy Polsat (CPS) investor relations material

Executive summary

• Multiplay strategy drove ARPU growth across B2C (+6.5% YoY), B2B (+2.8% YoY), and prepaid (+4.0% YoY) segments, enhancing customer value and loyalty.

• Q2 2026 delivered strong operating and financial results, with growth across all core business segments and robust free cash flow generation.

• Net profit for the 6 months ended 30 June 2026 was PLN 306.1 million, up from PLN 199.7 million year-over-year.

• 5G network coverage expanded to nearly 28 million people, reaching 75% of Poland's population.

• Media segment extended exclusive sports rights and maintained flagship channel audience growth despite market headwinds.

Financial highlights

• Revenue increased by 2.9% year-on-year to PLN 3.7 billion in Q2'26; H1 revenue reached PLN 7,329.7 million.

• Adjusted EBITDA rose 3.6% year-on-year to PLN 853 million in Q2'26; H1 EBITDA was PLN 1,710.1 million.

• Net profit surged 53% year-on-year to PLN 173 million in Q2'26; H1 net profit was PLN 306.1 million.

• Adjusted free cash flow for the last 12 months approached PLN 1 billion, up 33% year-on-year.

• Net debt to EBITDA stood at 3.63 at June-end, slightly above year-end due to spectrum payments.

Outlook and guidance

• Free cash flow guidance for 2026 reaffirmed at high hundreds of millions PLN after interest.

• CapEx for green energy segment expected below PLN 150 million in 2026, dropping to maintenance levels in subsequent years.

• Strategic review and long-term strategy to be announced in autumn; ongoing network investments and product innovation expected to support future growth.